Pur Natur UK Limited - Period Ending 2021-12-31

Pur Natur UK Limited

(Registration number: 02326264)
Balance Sheet as at 31 December 2021

	Note	2021 £	2020 £
Current assets
Debtors	6	172,936	71,516
Cash at bank and in hand		211,616	788,735
		384,552	860,251
Creditors: Amounts falling due within one year	7	(1,280,513)	(1,944,576)
Net liabilities		(895,961)	(1,084,325)
Capital and reserves
Called up share capital		1,180,000	1,180,000
Profit and loss account		(2,075,961)	(2,264,325)
Total equity		(895,961)	(1,084,325)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 20 September 2022 and signed on its behalf by:
 

.........................................

L De Baeremaeker
Director

Pur Natur UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

Principal activity

The principal activity of the company is that of a distribution services company for dairy products.

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has net liabilities but is profit-making in the year. It is dependent on the support of its shareholders to continue as a going concern. Confirmation of this support has been provided and the directors consider it appropriate to prepare the accounts on a going concern basis.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Pur Natur UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Pur Natur UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the
risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease
and the present value of the minimum lease payments. These assets are depreciated on a straight-line
basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to
the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction
of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of
the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 20 September 2022 was David Wheeler, who signed for and on behalf of Bourner Bullock.

Pur Natur UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

4	Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Directors' opinion there are key sources of estimation uncertainty regarding large debit balances which remain unpaid since prior year. A bad debt provision has been made up in order to cover the payment uncertainty which amounted to £59,772.

5	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2020 - 1).

6

Debtors

	2021 £	2020 £
Trade debtors	168,704	69,788
Prepayments	1,727	1,728
Other debtors	2,505	-
	172,936	71,516

7

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Trade creditors	27,514	27,949
Amounts owed to group undertakings	1,063,195	1,901,594
Taxation and social security	5,052	168
Other creditors	184,752	14,865
Total current trade and other creditors	1,280,513	1,944,576

8

Dividends

There were no dividends paid or proposed in either the current year or the previous year.

Pur Natur UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

9	Parent and ultimate parent undertaking

The company's immediate parent is Pur Natur Invest BVBA, incorporated in Belgium.

  These financial statements are available upon request from Hoogstraat 25, Kruishoutem, Belgium