Purelypaper Ltd - Accounts to registrar (filleted) - small 18.2
Purelypaper Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
PURELYPAPER LTD |
PURELYPAPER LTD (REGISTERED NUMBER: 05076956) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 7 |
PURELYPAPER LTD |
COMPANY INFORMATION |
for the year ended 31 March 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 St Ann Street |
Salisbury |
Wiltshire |
SP1 2DN |
BANKERS: |
38 Blue Boar Row |
Salisbury |
Wiltshire |
SP1 1DB |
PURELYPAPER LTD (REGISTERED NUMBER: 05076956) |
BALANCE SHEET |
31 March 2022 |
31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PURELYPAPER LTD (REGISTERED NUMBER: 05076956) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2022 |
1. | STATUTORY INFORMATION |
Purelypaper Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Revenue is measured at the fair value of the consideration received or receivable for the supply of paper and other office supplies. |
Revenue is recognised on the sale of goods once the customer has placed their online order at which time the significant risks and rewards associated with the product are transferred to the customer. |
Intangible assets |
The Company's website is being amortised evenly over its estimated useful life of 10 years. |
The assets' residual value, useful live and amortisation method is reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Government grants |
Government grants are recognised in the profit and loss on an accruals basis. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
PURELYPAPER LTD (REGISTERED NUMBER: 05076956) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2022 |
2. | ACCOUNTING POLICIES - continued |
Debtors |
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. |
Cash and cash equivalents |
These comprise cash at bank and other short-term highly liquid bank deposits. |
Creditors |
Creditors are not interest bearing and are stated at their nominal value. |
Reserves |
The movement in the fair value of plant & equipment to open market value at the balance sheet date is recognised in a non-distributable reserve. This reserve, which also contains appropriate depreciation and deferred tax provisions, may not be distributed to the shareholders. |
Any movements in the reserve are not liable to corporation tax and an appropriate deferred tax provision is provided within the reserve. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST OR VALUATION |
At 1 April 2021 |
Additions |
At 31 March 2022 |
AMORTISATION |
At 1 April 2021 |
Charge for year |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
Cost or valuation at 31 March 2022 is represented by: |
Other |
intangible |
assets |
£ |
Valuation in 2019 | 20,000 |
Cost | 8,971 |
28,971 |
PURELYPAPER LTD (REGISTERED NUMBER: 05076956) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2021 |
Additions |
At 31 March 2022 |
DEPRECIATION |
At 1 April 2021 |
Charge for year |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
6. | DEBTORS |
31.3.22 | 31.3.21 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.22 | 31.3.21 |
£ | £ |
Within one year |
Between one and five years |
PURELYPAPER LTD (REGISTERED NUMBER: 05076956) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2022 |
9. | RESERVES |
31.3.22 | 31.3.21 |
£ | £ |
Distributable | 130,688 | 122,735 |
Non - distributable | 9,720 | 11,340 |
140,408 | 134,075 |
Movement in Non-distributable reserve | 31.3.22 | 31.3.21 |
£ | £ |
Balance brought forward | 11,340 | 12,960 |
Asset disposals | - | - |
Fair value uplift | - | - |
Movement in depreciation | (2,000 | ) | (2,000 | ) |
Movement in deferred tax | 380 | 380 |
Balance carried forward | 9,720 | 11,340 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021: |
31.03.22 | 31.03.21 |
£ | £ |
Loan 1 |
Balance outstanding/owed at start of year | 9,972 | 10,781 |
Amounts advanced | 7,685 | 9,972 |
Amount repaid | (9,972 | ) | (10,781 | ) |
Balance outstanding at end of year | 7,685 | 9,972 |
31.03.22 | 31.03.21 |
£ | £ |
Loan 2 |
Balance outstanding/owed at start of year | 62,000 | 62,000 |
Amounts advanced | - | - |
Amount repaid | - | - |
Balance outstanding at end of year | 62,000 | 62,000 |
Interest was charged on these loans at commercial rates. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
PURELYPAPER LTD |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Purelypaper Ltd for the year ended 31 March 2022 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Purelypaper Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Purelypaper Ltd and state those matters that we have agreed to state to the Board of Directors of Purelypaper Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Purelypaper Ltd and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Purelypaper Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Purelypaper Ltd. You consider that Purelypaper Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Purelypaper Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
10 St Ann Street |
Salisbury |
Wiltshire |
SP1 2DN |