Pure Emporium Hair Limited - Period Ending 2016-08-31

Registration number: 09654834

Pure Emporium Hair Limited

Unaudited Abbreviated Accounts

for the Period from 24 June 2015 to 31 August 2016

 

Young & Co
Chartered Accountants
Bewell House
Bewell Street
Hereford
Herefordshire
HR4 0BA

Pure Emporium Hair Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pure Emporium Hair Limited
for the Period Ended 31 August 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pure Emporium Hair Limited for the period ended 31 August 2016 set out on pages 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 (ICAEW), 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 Pure Emporium Hair Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pure Emporium Hair Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pure Emporium Hair Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pure Emporium Hair Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pure Emporium Hair Limited. You consider that Pure Emporium Hair Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Pure Emporium Hair 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 accounts.

......................................

Young & Co
Chartered Accountants
Bewell House
Bewell Street
Hereford
Herefordshire
HR4 0BA

22 March 2017

Page 1

Pure Emporium Hair Limited
(Registration number: 09654834)
Abbreviated Balance Sheet at 31 August 2016

		Note			31 August 2016 £
Fixed assets
Tangible fixed assets					1,589
Current assets
Stocks					8,357
Cash at bank and in hand					16,041
					24,398
Creditors: Amounts falling due within one year					(18,993)
Net current assets					5,405
Total assets less current liabilities					6,994
Provisions for liabilities					(318)
Net assets					6,676
Capital and reserves
Called up share capital		3			100
Profit and loss account					6,576
Shareholders' funds					6,676

For the year ending 31 August 2016 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.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 22 March 2017 and signed on its behalf by:

.........................................
Miss Amy Card
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Pure Emporium Hair Limited
Notes to the Abbreviated Accounts for the Period from 24 June 2015 to 31 August 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

All turnover was derived from the provision of goods and services that fall within the company's ordinary continuing activities. All turnover has been based on the same class of business and supplied to United Kingdom customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% straight line

Stock

Stocks are stated at the lower of cost and net realisable value, as follows: Cost incurred in bringing each product to its present location and condition:- Materials - Purchase cost on a first in first out basis. Work in progress - Cost of direct materials, labour plus a proportion to cover attributable overheads. Net realisable value is based on the estimated selling price less further costs expected to be incurred to completion and disposal.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Pure Emporium Hair Limited
Notes to the Abbreviated Accounts for the Period from 24 June 2015 to 31 August 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		1,986			1,986
At 31 August 2016		1,986			1,986
Depreciation
Charge for the period		397			397
At 31 August 2016		397			397
Net book value
At 31 August 2016		1,589			1,589

3	Share capital

Allotted, called up and fully paid shares

	31 August 2016
		No.			£
Ordinary of £1 each		100			100

4	Related party transactions

Directors' advances and credits

	24 June 2015 to 31 August 2016 Advance/ Credit £	24 June 2015 to 31 August 2016 Repaid £
Miss Amy Card

Page 4

Pure Emporium Hair Limited
Notes to the Abbreviated Accounts for the Period from 24 June 2015 to 31 August 2016
......... continued

The loan is repayable upon demand.	(5,146)	-

Page 5