Abbreviated Company Accounts - PURE STREAM INVESTMENTS LTD

Abbreviated Company Accounts - PURE STREAM INVESTMENTS LTD

PURE STREAM INVESTMENTS LTD - Company Information

Print Friendly Version

Registered Number 06370685

PURE STREAM INVESTMENTS LTD

Abbreviated Accounts

30 September 2014

PURE STREAM INVESTMENTS LTD Registered Number 06370685

Abbreviated Balance Sheet as at 30 September 2014

Notes 2014 2013
£ £
Fixed assets
Investments 2 16,511 16,511
16,511 16,511
Current assets
Debtors 3 935 935
Cash at bank and in hand 1,003 1,596
1,938 2,531
Creditors: amounts falling due within one year 0 (169)
Net current assets (liabilities) 1,938 2,362
Total assets less current liabilities 18,449 18,873
Total net assets (liabilities) 18,449 18,873
Capital and reserves
Called up share capital 18,350 18,350
Profit and loss account 99 523
Shareholders' funds 18,449 18,873
  • For the year ending 30 September 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 June 2015

And signed on their behalf by:
Stephan C Gagnon, Director

PURE STREAM INVESTMENTS LTD Registered Number 06370685

Notes to the Abbreviated Accounts for the period ended 30 September 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

2Fixed assets Investments
On 12th May 2011, the company entered into a convertible loan agreement with 7847122 Canada Inc, a designer and manufacturer of biomass harvesting and land clearing equipment in Quebec, Canada. Under the terms of the loan, interest of 15% per annum is accrued until the loan is converted or repayment is demanded.
The loan was convertible at the discretion of the company on 12th May 2012 into ordinary shares of the borrower at a price providing the company with a discount of 25% from the price per share being paid by new investors in 7847122 Canada Inc, or at a price representing a pre-money valuation of 75% of CAN $ 2,250,000, whichever is the lowest. The loan remained not converted at the balance sheet date as 7847122 Canada Inc was part of a corporate restructuring. Interest on the Convertible Loan has not been accrued from October 1 2011 given the uncertainty generated by the long restructuring process.

3Debtors
2014
£		 2013
£
Debtors include the following amounts due after more than one year 935 935

Represent interest accrued on the Investment – Convertible Loan in 7847122 Canada Inc.