PURKISS&COMPANY_LIMITED - Accounts

ONENESS CAPITAL PARTNERS LTD - Company Information

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Company Registration No. 02526415 (England and Wales)

PURKISS&COMPANY LIMITED

(FORMERLY VP EXECUTIVES LTD)

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2016

PURKISS&COMPANY LIMITED

(FORMERLY VP EXECUTIVES LTD)

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 5

PURKISS&COMPANY LIMITED

(FORMERLY VP EXECUTIVES LTD)

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PURKISS&COMPANY LIMITED FOR THE YEAR ENDED 5 APRIL 2016

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 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 Purkiss&Company Limited for the year ended 5 April 2016 set out on pages 3 to 10 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 http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Purkiss&Company Limited, as a body, in accordance with the terms of our engagement letter dated 1 June 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Purkiss&Company Limited and state those matters that we have agreed to state to the Board of Directors of Purkiss&Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at icaew.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Purkiss&Company Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Purkiss&Company 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 Purkiss&Company Limited. You consider that Purkiss&Company 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 Purkiss&Company 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.

Pearson May

21 December 2016

Chartered Accountants

5 Wicker Hill

Trowbridge

Wiltshire

BA14 8JS

PURKISS&COMPANY LIMITED

(FORMERLY VP EXECUTIVES LTD)

ABBREVIATED BALANCE SHEET

AS AT

5 APRIL 2016

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

2,154

2,196

Investments

12,722

2,154

14,918

Current assets

Stocks

156

Debtors

100,563

140,357

Cash at bank and in hand

246

4,078

100,965

144,591

Creditors: amounts falling due within one year

(3,090)

(6,727)

Net current assets

97,875

137,864

Total assets less current liabilities

100,029

152,782

Capital and reserves

Called up share capital

Revaluation reserve

15,104

Profit and loss account

100,027

137,676

Shareholders' funds

100,029

152,782

For the financial year ended 5 April 2016 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 21 December 2016

J E Purkiss

Director

Company Registration No. 02526415

PURKISS&COMPANY LIMITED

(FORMERLY VP EXECUTIVES LTD)

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 5 APRIL 2016

- 3 -

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).

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

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:

Office equipment

25% reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Investments

Fixed asset investments are stated at the market value at the year end date.

1.7

Stock

Stock is valued at the lower of cost and net realisable value.

PURKISS&COMPANY LIMITED

(FORMERLY VP EXECUTIVES LTD)

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2016

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 6 April 2015

5,454

12,722

18,176

Additions

719

Disposals

(133)

(12,722)

(12,855)

At 5 April 2016

6,040

Depreciation

At 6 April 2015

3,258

On disposals

(91)

Charge for the year

719

At 5 April 2016

3,886

Net book value

At 5 April 2016

2,154

At 5 April 2015

2,196

12,722

14,918

Debtors

Debtors include an amount of £23,918 (2015 - £43,936) which is due after more than one year.

Share capital

2016

2015

Allotted, called up and fully paid

2 ordinary shares of £1 each

PURKISS&COMPANY LIMITED

(FORMERLY VP EXECUTIVES LTD)

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2016

- 5 -

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

J E Purkiss

3.00

95,673

53,866

3,186

78,062

74,663

95,673

53,866

3,186

78,062

74,663

The maximum overdrawn balance during the year was £127,194 (2015 £143,943). The loan is unsecured and repayable on demand. Interest is charged on the overdrawn balance.