Purple Patch Ideas Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 08864353 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

FOR

PURPLE PATCH IDEAS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Miss N A Murray

REGISTERED OFFICE:

48 Mill Lane

Greenfield

Bedford

MK45 5DF

REGISTERED NUMBER:

08864353 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

Prospero House

46-48 Rothesay Road

Luton

Bedfordshire

LU1 1QZ

FIXED ASSETS

Tangible assets

2

6,278

-

CURRENT ASSETS

Stocks

309,471

270,429

Debtors

6,196

3,800

Cash at bank

144,729

1,928

460,396

276,157

CREDITORS

Amounts falling due within one year

462,905

282,450

NET CURRENT LIABILITIES

(2,509

)

(6,293

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,769

(6,293

)

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

3,768

(6,294

)

SHAREHOLDERS' FUNDS

3,769

(6,293

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 2 September 2016 and were signed by:

Miss N A Murray - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis which is considered to be appropriate, although the

company's ability to continue trading is reliant on the continued support of the director.

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 January 2015).

Turnover

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

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

-

25% on reducing balance

Computer equipment

-

33% 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.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

8,417

At 31 January 2016

8,417

DEPRECIATION

Charge for year

2,139

At 31 January 2016

2,139

NET BOOK VALUE

At 31 January 2016

6,278

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

£1

1