Pure Aviation Limited - Limited company accounts 16.3

REGISTERED NUMBER: 03176207 (England and Wales)

PURE AVIATION LIMITED

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

Page

Report of the Director

1

Report of the Independent Auditors

2

Profit and Loss Account

4

Balance Sheet

5

Notes to the Financial Statements

6

The director presents her report with the financial statements of the company for the year ended 30 November 2016.

DIRECTOR

Dr V C Davies held office during the whole of the period from 1 December 2015 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance

with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the

director has 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 director must not approve the financial statements unless she is 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 director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is 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 her to ensure that the financial statements comply with the Companies Act 2006. She is

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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the

Companies Act 2006) of which the company's auditors are unaware, and she has taken all the steps that she

ought to have taken as a director in order to make herself aware of any relevant audit information and to

establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Rogers & Co (Swansea) Limited who were appointed on 19 February 2009, will be proposed for

re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006

relating to small companies.

ON BEHALF OF THE BOARD:

Dr V C Davies - Director

23 March 2017

We have audited the financial statements of Pure Aviation Limited for the year ended 30 November 2016 on

pages four to seven. The financial reporting framework that has been applied in their preparation is applicable

law and the Financial Reporting Standard for Smaller Entities (effective January 2015) (United Kingdom

Generally Accepted Accounting Practice applicable to Smaller Entities).

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of

the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's

members those matters we are required to state to them in a Report of the Auditors and for no other purpose.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the

company and the company's members as a body, for our audit work, for this report, or for the opinions we

have formed.

Respective responsibilities of director and auditors

As explained more fully in the Statement of Director's Responsibilities set out on page one, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient

to give reasonable assurance that the financial statements are free from material misstatement, whether

caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to

the company's circumstances and have been consistently applied and adequately disclosed; the

reasonableness of significant accounting estimates made by the director; and the overall presentation of the

financial statements. In addition, we read all the financial and non-financial information in the Report of the

Director to identify material inconsistencies with the audited financial statements and to identify any

information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge

acquired by us in the course of performing the audit. If we become aware of any apparent material

misstatements or inconsistencies we consider the implications for our report.

Opinion on financial statements

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 November 2016 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion the information given in the Report of the Director for the financial year for which the financial

statements are prepared is consistent with the financial statements.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to

report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

Susan Rogers (Senior Statutory Auditor)

for and on behalf of Rogers & Co (Swansea) Limited

Statutory Auditors

414 Gower Road

Killay

Swansea

West Glamorgan

SA2

7AJ

23 March 2017

TURNOVER

163,965

191,980

Cost of sales

161,131

189,161

GROSS PROFIT

2,834

2,819

Administrative expenses

2,835

2,819

OPERATING LOSS

2

(1

)

-

Interest receivable and similar income

3

2

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

2

Tax on profit on ordinary activities

3

-

PROFIT FOR THE FINANCIAL YEAR

2

CURRENT ASSETS

Debtors

4

25,593

16,850

Prepayments and accrued income

467

455

Cash at bank

4,423

1,790

30,483

19,095

CREDITORS

Amounts falling due within one year

5

28,420

17,034

NET CURRENT ASSETS

2,063

2,061

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,063

2,061

CAPITAL AND RESERVES

Called up share capital

6

2,000

Profit and loss account

7

63

61

SHAREHOLDERS' FUNDS

2,063

2,061

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the director on 23 March 2017 and were signed by:

Dr V C Davies - 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 flights and other services, excluding value added tax where

applicable.

2.	OPERATING LOSS

The operating loss is stated after charging:

2016

2015

£

Auditors' remuneration

750

Director's remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 30 November 2016 nor

for the year ended 30 November 2015.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Other debtors

25,593

16,850

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Trade creditors

717

-

Amounts owed to group undertakings

26,448

15,774

Other creditors

1,255

1,260

28,420

17,034

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2,000

Ordinary

£1

2,000

7.

RESERVES

Profit

and loss

account

£

At 1 December 2015

61

Profit for the year

2

At 30 November 2016

63

8.	ULTIMATE PARENT COMPANY

Pure Crete Limited is regarded by the director as being the company's ultimate parent company.

The ultimate parent company is Pure Crete Limited, which is registered in England and Wales.

9.	RELATED PARTY DISCLOSURES

Sales of £163,965 (2015 £191,980) were made to the parent company, Pure Crete Limited during the

period. A management charge of £28,258 (2015 £33,585) was raised by them to the company. The

balance due to Pure Crete Limited at the year end was £26,448 (2015 £15,774) and is included in

creditors falling due in under one year .

The company's share capital is owned 100% by Pure Crete Ltd which in turn is controlled by the

Director, Dr V Davies, who together with family interests owns 100% of the share capital.