Pure Tree Limited 31/03/2022 iXBRL

Pure Tree Limited 31/03/2022 iXBRL

PURE TREE LIMITED - Company Information

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3 31/03/2022 2022-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2021-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 07371492 2021-04-01 2022-03-31 07371492 2022-03-31 07371492 2021-03-31 07371492 2020-04-01 2021-03-31 07371492 2021-03-31 07371492 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 07371492 core:NetGoodwill 2021-04-01 2022-03-31 07371492 bus:RegisteredOffice 2021-04-01 2022-03-31 07371492 bus:LeadAgentIfApplicable 2021-04-01 2022-03-31 07371492 bus:Director1 2021-04-01 2022-03-31 07371492 bus:Director2 2021-04-01 2022-03-31 07371492 core:WithinOneYear 2022-03-31 07371492 core:WithinOneYear 2021-03-31 07371492 core:NetGoodwill 2022-03-31 07371492 core:FurnitureFittingsToolsEquipment 2021-03-31 07371492 core:FurnitureFittingsToolsEquipment 2022-03-31 07371492 core:ShareCapital 2022-03-31 07371492 core:ShareCapital 2021-03-31 07371492 core:RetainedEarningsAccumulatedLosses 2022-03-31 07371492 core:RetainedEarningsAccumulatedLosses 2021-03-31 07371492 core:NetGoodwill 2021-03-31 07371492 core:FurnitureFittingsToolsEquipment 2021-03-31 07371492 bus:SmallEntities 2021-04-01 2022-03-31 07371492 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 07371492 bus:FullAccounts 2021-04-01 2022-03-31 07371492 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 07371492 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 07371492 core:ComputerEquipment 2022-03-31 07371492 core:ComputerEquipment 2021-03-31
Company registration number: 07371492
Pure Tree Limited
Unaudited filleted financial statements
31 March 2022
PURE TREE LIMITED
DIRECTORS AND OTHER INFORMATION
Directors Mr M G Beach
Mr O C Beach
Company number 07371492
Registered office Western Road
St Thomas
Exeter
Devon
EX4 1EQ
Business address Sedge Mead Works
Western Road
St Thomas
Exeter
EX4 1EQ
Accountants Westcotts
26-28 Southernhay East
Exeter
EX1 1NS
PURE TREE LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2022
2022 2021
Note £ £ £ £
Fixed assets
Intangible assets 5 1 1
Tangible assets 6 887 1,774
_______ _______
888 1,775
Current assets
Debtors 7 86,496 88,843
Cash at bank and in hand 752 10,768
_______ _______
87,248 99,611
Creditors: amounts falling due
within one year 8 ( 50,150) ( 92,009)
_______ _______
Net current assets 37,098 7,602
_______ _______
Total assets less current liabilities 37,986 9,377
_______ _______
Net assets 37,986 9,377
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 9 37,886 9,277
_______ _______
Shareholders funds 37,986 9,377
_______ _______
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 21 December 2022 , and are signed on behalf of the board by:
Mr O C Beach
Director
Company registration number: 07371492
PURE TREE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2022
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Sedge Mead Works, Western Road, St Thomas, Exeter, Devon, EX4 1EQ.
Principal activity
The principal activity of the company is internet sales of flooring products.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Changes in accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and have also been consistently applied.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover represents the total value of goods, excluding value added tax, provided to customers during the year, plus the value of work, excluding value added tax, performed during the year with respect to services.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill arose on a business acquisition and represented the excess of the cost of the acquisition over thecompanies interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. It was amortised over three years and is now fully amortised.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 33 % straight line
Website development costs - Straight line over three years
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2021: 3 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2021 and 31 March 2022 70,000 70,000
_______ _______
Amortisation
At 1 April 2021 and 31 March 2022 69,999 69,999
_______ _______
Carrying amount
At 31 March 2022 1 1
_______ _______
At 31 March 2021 1 1
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Website development costs Total
£ £ £
Cost
At 1 April 2021 and 31 March 2022 2,660 32,490 35,150
_______ _______ _______
Depreciation
At 1 April 2021 887 32,489 33,376
Charge for the year 887 - 887
_______ _______ _______
At 31 March 2022 1,774 32,489 34,263
_______ _______ _______
Carrying amount
At 31 March 2022 886 1 887
_______ _______ _______
At 31 March 2021 1,773 1 1,774
_______ _______ _______
7. Debtors
2022 2021
£ £
Trade debtors 75,441 87,670
Amounts owed by connected companies 1,159 1,159
Other debtors 9,896 14
_______ _______
86,496 88,843
_______ _______
8. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 236 -
Accruals and deferred income 46,594 84,022
Social security and other taxes 3,240 7,907
Other creditors 80 80
_______ _______
50,150 92,009
_______ _______
9. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.