PURECHANNELS_LIMITED - Accounts

PURECHANNELS LIMITED - Company Information

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Company Registration No. 05485704 (England and Wales)

PURECHANNELS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2015

PURECHANNELS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PURECHANNELS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

82,549

87,424

Current assets

Debtors

174,005

376,575

Cash at bank and in hand

12,300

200

186,305

376,775

Creditors: amounts falling due within one year

(70,546)

(142,951)

Net current assets

115,759

233,824

Total assets less current liabilities

198,308

321,248

Creditors: amounts falling due after more than one year

(43,526)

(49,726)

154,782

271,522

Capital and reserves

Called up share capital

100

Profit and loss account

154,682

271,422

Shareholders' funds

154,782

271,522

For the financial year ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 8 October 2015

O Choron

G Robertson

Director

Company Registration No. 05485704

PURECHANNELS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

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 less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

Over the lease term

Fixtures, fittings & equipment

15% Reducing balance

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 July 2014

101,448

Additions

1,292

Disposals

(9,540)

At 30 June 2015

93,200

Depreciation

At 1 July 2014

14,023

On disposals

(5,483)

Charge for the year

2,111

At 30 June 2015

10,651

Net book value

At 30 June 2015

82,549

At 30 June 2014

87,424

PURECHANNELS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 3 -

Creditors: amounts falling due after more than one year

2015

2014

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

14,062

22,193

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Loans to directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

O Choron

(480)

36,231

29,400

6,351

(480)

36,231

29,400

6,351