Pinkunlimited.co.uk Limited - Period Ending 2013-12-31

Registration number: 05653301

Pinkunlimited.co.uk Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 December 2013
 

Pinkunlimited.co.uk Limited
Contents

Company Information 1

Directors' Report 2

Statement of Directors' Responsibilities 2

Profit and Loss Account 3

Balance Sheet 4

Notes to the Financial Statements 5 to 6

Pinkunlimited.co.uk Limited
Company Information

Directors

Mr Andrew Millet Mr Benjamin Cohen Mr Richard Cohen

Company secretary

Mr Richard Cohen

Registered office

Wisteria Camrose House 2A Camrose Avenue Edgware Middlesex HA8 6EG

Accountants

Wisteria Limited Camrose House 2A Camrose Avenue Edgware Middlesex HA8 6EG

Page 1

Pinkunlimited.co.uk Limited
Directors' Report for the Year Ended 31 December 2013

The directors present their report and the unaudited financial statements for the year ended 31 December 2013.

Directors of the company

The directors who held office during the year were as follows:

Mr Andrew Millet

Mr Benjamin Cohen

Mr Richard Cohen - Company secretary and director

These directors did not hold any non-beneficial interests in the shares of the company.
  208 ordinary shares of £1 each are held by Rochelle Cohen. Rochelle Cohen is the spouse of Richard Cohen, a director of the company; and mother of Benjamin Cohen, a director of the company.

Principal activity

The principal activity of the company is publication of an online newspaper for the lesbian, gay, bisexual and transgender community.

Business review

The result for the year and financial position of the company are as shown in the annexed financial statements.

Statement of director's responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;
•	make judgements and accounting estimates that are reasonable and prudent; and
•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board on 29 September 2014 and signed on its behalf by:

.........................................
Mr Benjamin Cohen
Director

Page 2

Pinkunlimited.co.uk Limited
Profit and Loss Account for the Year Ended 31 December 2013

		Note			2013 £			2012 £
Turnover					105,827			37,816
Cost of sales					(8,463)			(7,770)
Gross profit					97,364			30,046
Administrative expenses					(64,074)			(25,301)
Operating profit					33,290			4,745
Other interest receivable and similar income					47			-
Interest payable and similar charges					(25)			-
Profit on ordinary activities before taxation					33,312			4,745
Tax on profit on ordinary activities		2			(7,562)			(263)
Profit for the financial year		6			25,750			4,482

The notes on pages 5 to 6 form an integral part of these financial statements.
Page 3

Pinkunlimited.co.uk Limited
(Registration number: 05653301)
Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Current assets
Debtors		3			9,971			14,827
Cash at bank and in hand					80,256			31,058
					90,227			45,885
Creditors: Amounts falling due within one year		4			(28,077)			(9,485)
Net assets					62,150			36,400
Capital and reserves
Called up share capital		5			1,526			1,526
Share premium account		6			34,674			34,674
Profit and loss account		6			25,950			200
Shareholders' funds					62,150			36,400

These 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).

For the year ending 31 December 2013 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.

Approved by the Board on 29 September 2014 and signed on its behalf by:

.........................................
Mr Benjamin Cohen
Director

The notes on pages 5 to 6 form an integral part of these financial statements.
Page 4

Pinkunlimited.co.uk Limited
Notes to the Financial Statements for the Year Ended 31 December 2013
......... continued

1	Accounting policies

Basis of preparation

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).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

2

Taxation

Tax on profit on ordinary activities

		2013 £			2012 £
Current tax
Corporation tax charge		7,562			263

3

Debtors

		2013 £			2012 £
Trade debtors		9,971			14,827

4	Creditors: Amounts falling due within one year

		2013 £			2012 £
Trade creditors		11,561			1,262
Corporation tax		7,828			263
Other taxes and social security		1,801			2,287
Other creditors		6,887			5,673
		28,077			9,485

Page 5

Pinkunlimited.co.uk Limited
Notes to the Financial Statements for the Year Ended 31 December 2013
......... continued

5	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary of £1 each		1,526			1,526			1,526			1,526

6

Reserves

		Share premium account £			Profit and loss account £			Total £
At 1 January 2013		34,674			200			34,874
Profit for the year		-			25,750			25,750
At 31 December 2013		34,674			25,950			60,624

7	Related party transactions

Andrew Millet, a director of the company is also a director of Wisteria Limited. During the year Wisteria Limited invoices the company £3,090 (last year £1,800) for accountancy services.

8

Control

The ultimate controling party is B Cohen who holds 68% of the issued share capital. Also, Rochelle Cohen, wife of Richard Cohen, holds 208 shares of the issued share capital.

Page 6