Purism Properties Ltd 31/05/2023 iXBRL
Purism Properties Ltd 31/05/2023 iXBRL
Company registration number:
07383420
Contents
Statement of financial position
Notes to the financial statements
Statement of financial position
31 May 2023
2023 | 2022 | ||||||||
(Restated) | |||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 7 |
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_______ | _______ | ||||||||
Net current assets |
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_______ | _______ | ||||||||
Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 8 |
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Provisions for liabilities |
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_______ | _______ | ||||||||
Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
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Fair value reserve |
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Profit and loss account |
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_______ | _______ | ||||||||
Shareholders funds |
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_______ | _______ | ||||||||
A prior year adjustment has been made to 2021 where balances have been restated through the profit and loss reserve.
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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
12 July 2023
, and are signed on behalf of the board by:
Director
Company registration number:
07383420
Notes to the financial statements
Year ended 31 May 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Foxburgh, Warren Rise, New Malden, KT3 4SJ.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2022:
3
).
5.
Tangible assets
Freehold property | Total | ||
£ | £ | ||
Cost | |||
At 1 June 2022 and 31 May 2023 |
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Depreciation | |||
At 1 June 2022 and 31 May 2023 | - | - | |
_______ | _______ | ||
Carrying amount | |||
At 31 May 2023 |
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At 31 May 2022 |
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Tangible assets held at valuation
The company's freehold investment property was revalued in April 2022 at £8.5m by Sanderson Weatherall Chartered Surveyors. The historical cost of this property was £4,985,009.
6.
Debtors
2023 | 2022 | |||
£ | £ | |||
Trade debtors |
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_______ | _______ | |||
7.
Creditors: amounts falling due within one year
2023 | 2022 | |||
£ | £ | |||
Bank loans and overdrafts |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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_______ | _______ | |||
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_______ | _______ | |||
8.
Creditors: amounts falling due after more than one year
2023 | 2022 | |||
£ | £ | |||
Bank loans and overdrafts |
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_______ | _______ | |||