Purple Ivy Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: SC357481 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2016

for

Purple Ivy Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTOR:

P G Ivins

REGISTERED OFFICE:

308 Albert Drive

Pollokshields

GLASGOW

G41 5RS

REGISTERED NUMBER:

SC357481 (Scotland)

ACCOUNTANTS:

T B Dunn & Co

308 Albert Drive

Pollokshields

GLASGOW

G41 5RS

FIXED ASSETS

Tangible assets

2

186,842

206,812

CURRENT ASSETS

Stocks

55,943

62,025

Debtors

19,103

20,982

Cash at bank and in hand

50,844

71,250

125,890

154,257

CREDITORS

Amounts falling due within one year

164,053

223,481

NET CURRENT LIABILITIES

(38,163

)

(69,224

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

148,679

137,588

CREDITORS

Amounts falling due after more than one
year

(26,495

)

(33,120

)

PROVISIONS FOR LIABILITIES

(23,706

)

(25,535

)

NET ASSETS

98,478

78,933

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

98,378

78,833

SHAREHOLDERS' FUNDS

98,478

78,933

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

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

The director acknowledges his 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 15 November 2016 and were signed by:

P G Ivins - Director

1.	ACCOUNTING POLICIES

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.

Improvements to property

-

Over term of lease

Sight test equipment

-

12.5% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33.33% 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, where transactions or events that result in an obligation to pay more or a right to pay less tax in the

future have occurred by the balance sheet date with certain limited exceptions.

Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the periods in

which the timing differences are expected to reverse, based on tax rates and laws enacted or substantively

enacted at the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

363,484

Additions

9,843

At 31 August 2016

373,327

DEPRECIATION

At 1 September 2015

156,672

Charge for year

29,813

At 31 August 2016

186,485

NET BOOK VALUE

At 31 August 2016

186,842

At 31 August 2015

206,812

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Purple Ivy Ltd for the year ended 31 August 2016 which comprise the Profit and Loss Account,

the Balance Sheet, and the related notes 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the director of Purple Ivy Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Purple Ivy Ltd and state those matters that we have agreed to state to the director of Purple Ivy Ltd in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Purple Ivy Ltd 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 profit of Purple Ivy Ltd. You consider that Purple Ivy Ltd 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 Purple Ivy Ltd. 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.

T B Dunn & Co

308 Albert Drive

Pollokshields

GLASGOW

G41 5RS

15 November 2016