PURE_RETAIL_ASSOCIATES_LI - Accounts

PURE_RETAIL_ASSOCIATES_LI - Accounts

PURE RETAIL ASSOCIATES LIMITED - Company Information

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Company Registration No. 04950915 (England and Wales)
PURE RETAIL ASSOCIATES LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
PURE RETAIL ASSOCIATES LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
PURE RETAIL ASSOCIATES LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PURE RETAIL ASSOCIATES LIMITED FOR THE YEAR ENDED 31 MARCH 2015
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pure Retail Associates Limited for the year ended 31 March 2015 set out on pages 2 to 5 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Pure Retail Associates Limited, as a body, in accordance with the terms of our engagement letter dated 23 November 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Pure Retail Associates Limited and state those matters that we have agreed to state to the Board of Directors of Pure Retail Associates Limited, 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 Pure Retail Associates Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Pure Retail Associates Limited 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 Pure Retail Associates Limited. You consider that Pure Retail Associates Limited 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 Pure Retail Associates Limited. 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.
Moore and Smalley LLP
Chartered Accountants
Priory Close
St Marys Gate
Lancaster
LA1 1XB
4 December 2015
PURE RETAIL ASSOCIATES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
11,298
13,693
Current assets
Stocks
37,717
45,075
Debtors
8,571
9,211
Cash at bank and in hand
7,200
12,625
53,488
66,911
Creditors: amounts falling due within one year
3
(11,544)
(13,016)
Net current assets
41,944
53,895
Total assets less current liabilities
53,242
67,588
Creditors: amounts falling due after more than one year
4
(7,481)
(10,867)
Provisions for liabilities
(1,467)
(2,071)
44,294
54,650
Capital and reserves
Called up share capital
5
2
2
Profit and loss account
44,292
54,648
Shareholders'  funds
44,294
54,650
PURE RETAIL ASSOCIATES LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2015
31 March 2015
- 3 -
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 3 December 2015
Mr C Bradley
Director
Company Registration No. 04950915
PURE RETAIL ASSOCIATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
1
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 to the extent that the company has a right to consideration arising from the performance of its contractual arrangements.

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:
Equipment
20% reducing balance
Fixtures & fittings
20% reducing balance
Motor vehicles
20% straight line
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock

Stock is valued at the lower of cost and net realisable value after making due consideration for obsolete and slow-moving items.

1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.
1.8
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
PURE RETAIL ASSOCIATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 5 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014
33,773
Additions
1,100
At 31 March 2015
34,873
Depreciation
At 1 April 2014
20,080
Charge for the year
3,495
At 31 March 2015
23,575
Net book value
At 31 March 2015
11,298
At 31 March 2014
13,693
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £3,361 (2014 - £3,104).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £7,481 (2014 - £10,867).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1 A Ordinary share of £1 each
1
1
1 B Ordinary share of £1 each
1
1
2
2

Each class of share rank pari passu in all respects save that the directors may at any time resolve to declare a dividend on one class of share and not another class

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