Purple Parasol Ltd - Period Ending 2016-09-30

Registration number: 04735990

Purple Parasol Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Nigel K Wayne & Co Ltd
Chartered Accountants
AIMS Accountants for Business
15a East Street
Okehampton
Devon
EX20 1AS

Purple Parasol Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

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 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Purple Parasol Ltd
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Purple Parasol Ltd for the year ended 30 September 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 Purple Parasol Ltd, 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 Purple Parasol Ltd 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 Purple Parasol Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Purple Parasol Ltd 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 Purple Parasol Ltd. You consider that Purple Parasol 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 accounts of Purple Parasol 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 accounts.

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

Nigel K Wayne & Co Ltd
Chartered Accountants
AIMS Accountants for Business
15a East Street
Okehampton
Devon
EX20 1AS

29 June 2017

Page 1

Purple Parasol Ltd
(Registration number: 04735990)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					2,592			3,457
Current assets
Debtors					16,100			11,597
Cash at bank and in hand					1,737			1,464
					17,837			13,061
Creditors: Amounts falling due within one year					(10,719)			(5,183)
Net current assets					7,118			7,878
Total assets less current liabilities					9,710			11,335
Provisions for liabilities					(317)			(445)
Net assets					9,393			10,890
Capital and reserves
Called up share capital		3			500			500
Profit and loss account					8,893			10,390
Shareholders' funds					9,393			10,890

For the year ending 30 September 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 29 June 2017 and signed on its behalf by:

.........................................
Russell Jamieson
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Purple Parasol Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 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

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of services to 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
Plant & machinery	25% reducing balance

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.

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.

Page 3

Purple Parasol Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		14,298			14,298
At 30 September 2016		14,298			14,298
Depreciation
At 1 October 2015		10,841			10,841
Charge for the year		865			865
At 30 September 2016		11,706			11,706
Net book value
At 30 September 2016		2,592			2,592
At 30 September 2015		3,457			3,457

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary £1 shares of £1 each		500			500			500			500

Page 4