Purple Onion Associates Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08333101 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2015

for

Purple Onion Associates Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

5

DIRECTORS:

J C Byrne

Mrs S L Byrne

REGISTERED OFFICE:

The Old School

188 Liscard Road

Liscard

Merseyside

CH44 5TN

REGISTERED NUMBER:

08333101 (England and Wales)

ACCOUNTANTS:

Oddpenny Ltd

Chartered Accountants

46 Christchurch Road

Prenton

Merseyside

CH43 5SF

FIXED ASSETS

Intangible assets

2

9,000

12,000

Tangible assets

3

321

450

9,321

12,450

CURRENT ASSETS

Stocks

195

1,266

Debtors

3,600

429

Cash at bank

8,366

2,985

12,161

4,680

CREDITORS

Amounts falling due within one year

31,192

24,633

NET CURRENT LIABILITIES

(19,031

)

(19,953

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,710

)

(7,503

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(9,810

)

(7,603

)

SHAREHOLDERS' FUNDS

(9,710

)

(7,503

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 2 July 2015 and were signed on its behalf by:

J C Byrne - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

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 etc

-

25% on cost

Stocks

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

items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

15,000

AMORTISATION

At 1 April 2014

3,000

Amortisation for year

3,000

At 31 March 2015

6,000

NET BOOK VALUE

At 31 March 2015

9,000

At 31 March 2014

12,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

514

DEPRECIATION

At 1 April 2014

64

Charge for year

129

At 31 March 2015

193

NET BOOK VALUE

At 31 March 2015

321

At 31 March 2014

450

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal

Value: £

40 Ordinary A shares 1 40

40 Ordinary B shares 1 40

10 Ordinary C shares 1 10

10 Ordinary D shares 1 10

100

The following shares were allotted and fully paid for cash at par during the period:

40 Ordinary A shares of 1 each

40 Ordinary B shares of 1 each

10 Ordinary C shares of 1 each

10 Ordinary D shares of 1 each

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial

statements, from which the unaudited abbreviated accounts (set out on pages two to four) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Purple Onion Associates Ltd for the year ended 31 March 2015 which comprise the Profit and Loss Account, the

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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Purple Onion Associates 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 Purple Onion Associates Ltd and state those matters that we have agreed to state to the Board of Directors of Purple Onion Associates Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Purple Onion Associates 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 loss of Purple Onion Associates Ltd. You consider that Purple Onion Associates 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 Purple Onion Associates 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.

Oddpenny Ltd

Chartered Accountants

46 Christchurch Road

Prenton

Merseyside

CH43 5SF

7 July 2015