Pure IT Recycling Ltd

Pure IT Recycling Ltd

PURE IT RECYCLING LTD - Company Information

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true true 1 January 2014 31 December 2014 31 December 2014 true false SC329414 true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC329414 2013-12-31 SC329414 2014-12-31 SC329414 2014-01-01 2014-12-31 SC329414 uk-gaap:RestatedAmount 2013-12-31 SC329414 uk-gaap:RestatedAmount 2014-12-31 SC329414 uk-gaap:NetGoodwill 2013-12-31 SC329414 uk-gaap:NetGoodwill 2014-12-31 SC329414 uk-gaap:NetGoodwill 2014-01-01 2014-12-31 SC329414 uk-gaap:OtherIntangibleFixedAssets 2014-01-01 2014-12-31 SC329414 uk-gaap:IntangibleAssetsOtherThanGoodwill 2013-12-31 SC329414 uk-gaap:IntangibleAssetsOtherThanGoodwill 2014-12-31 SC329414 uk-gaap:IntangibleAssetsOtherThanGoodwill 2014-01-01 2014-12-31 SC329414 uk-gaap:DevelopmentCosts 2013-12-31 SC329414 uk-gaap:DevelopmentCosts 2014-12-31 SC329414 uk-gaap:DevelopmentCosts 2014-01-01 2014-12-31 SC329414 uk-gaap:LandBuildings uk-gaap:OwnedOrFreeholdTangibleFixedAssets 2013-12-31 SC329414 uk-gaap:LandBuildings 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Registered number: SC329414
Pure IT Recycling Ltd
Abbreviated accounts
For The Year Ended 31 December 2014
Rosslyn Associates

Chartered Tax Advisers & Accountants

The Clocktower, Bush House Cottages
Edinburgh Technopole, Milton Bridge
Edinburgh
Midlothian
EH26 0BA
Pure IT Recycling Ltd
Company No. SC329414
Abbreviated Balance Sheet 31 December 2014
Abbreviated Balance Sheet
31 December 2014 Period to 31 December 2013
Notes £ £ £ £
FIXED ASSETS
Tangible assets 2 3,179 3,973
3,179 3,973
CURRENT ASSETS
Stocks 40,000 10,000
Debtors 22,720 15,880
Cash at bank and in hand 13,937 17,996
76,657 43,876
Creditors: Amounts Falling Due Within One Year (40,237) (22,215)
NET CURRENT ASSETS (LIABILITIES) 36,420 21,661
TOTAL ASSETS LESS CURRENT LIABILITIES 39,599 25,634
NET ASSETS 39,599 25,634
CAPITAL AND RESERVES
Called up share capital 3 1 1
Profit and Loss account 39,598 25,633
SHAREHOLDERS' FUNDS 39,599 25,634
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Pure IT Recycling Ltd
Company No. SC329414
Abbreviated Balance Sheet (continued) 31 December 2014
For the year ending 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities
  • The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).
On behalf of the board
Mr Robert Mitchell
28/09/2015
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Pure IT Recycling Ltd
Notes to the Abbreviated Accounts
For The Year Ended 31 December 2014
Notes to the Abbreviated Accounts
Accounting Policies
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Deferred Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
Tangible Assets
Total
Cost £
As at 1 January 2014 8,559
As at 31 December 2014 8,559
Depreciation
As at 1 January 2014 4,586
Provided during the period 794
As at 31 December 2014 5,380
Net Book Value
As at 31 December 2014 3,179
As at 1 January 2014 3,973
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Pure IT Recycling Ltd
Notes to the Abbreviated Accounts (continued)
For The Year Ended 31 December 2014
Share Capital
Value Number 31 December 2014 Period to 31 December 2013
Allotted, called up and fully paid: £ £ £
Ordinary shares 1.000 1 1 1
Ultimate Controlling Party
The company's ultimate controlling party is Robert Mitchell by virtue of his ownership of 100% of the issued share capital in the company.
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