Pure Fuels Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05790768 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2019

FOR

PURE FUELS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T Lasica

Mr C G 't Hooft

Dr K A Isbester

Mrs R Lasica

SECRETARY:

Mr T Lasica

REGISTERED OFFICE:

Unit A8

Hastingwood Trading Estate

Harbert Road

London

N18 3HT

REGISTERED NUMBER:

05790768 (England and Wales)

ACCOUNTANTS:

Hanburys Limited

Chartered Certified Accountants

6b Parkway

Porters Wood

St Albans

Hertfordshire

AL3 6PA

FIXED ASSETS

Tangible assets

4

15,259

14,832

CURRENT ASSETS

Stocks

5

20,747

34,744

Debtors

6

142,142

122,762

Cash at bank and in hand

90,627

1,693

253,516

159,199

CREDITORS

Amounts falling due within one year

7

223,830

107,569

NET CURRENT ASSETS

29,686

51,630

TOTAL ASSETS LESS CURRENT LIABILITIES

44,945

66,462

PROVISIONS FOR LIABILITIES

8

2,912

2,818

NET ASSETS

42,033

63,644

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

10

41,833

63,444

SHAREHOLDERS' FUNDS

42,033

63,644

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 17 December 2019 and were signed on its behalf by:

Mr T Lasica - Director

1.	STATUTORY INFORMATION

Pure Fuels Ltd is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other

Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a

legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price

including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not

amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements

entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after

deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business

from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not,

they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and

subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2018 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 May 2018

75,879

19,845

95,724

Additions

1,420

1,800

3,220

At 30 April 2019

77,299

21,645

98,944

DEPRECIATION

At 1 May 2018

63,743

17,149

80,892

Charge for year

1,984

809

2,793

At 30 April 2019

65,727

17,958

83,685

NET BOOK VALUE

At 30 April 2019

11,572

3,687

15,259

At 30 April 2018

12,136

2,696

14,832

5.

STOCKS

30.4.19

30.4.18

£

£

Stocks

20,747

34,744

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade debtors

138,662

119,387

Other debtors

1,907

1,907

Prepayments

1,573

1,468

142,142

122,762

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Other loans

128,290

-

Trade creditors

64,000

12,705

Corporation tax

12,868

27,883

Social security and other taxes

599

463

Value added tax

13,123

44,441

Other creditors

190

20,077

Directors' current accounts

1,300

-

Accruals

3,460

2,000

223,830

107,569

8.	PROVISIONS FOR LIABILITIES

30.4.19

30.4.18

£

£

Deferred tax

Accelerated capital allowances

2,912

2,818

Deferred

tax

£

Balance at 1 May 2018

2,818

Charge to Income Statement during year

94

Balance at 30 April 2019

2,912

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.19

30.4.18

value:

£

£

200

Ordinary

£1

200

200

10.

RESERVES

Retained

earnings

£

At 1 May 2018

63,444

Profit for the year

55,189

Dividends

(76,800

)

At 30 April 2019

41,833