Pristine London Limited - Accounts to registrar - small 16.3

REGISTERED NUMBER: 07489135 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

PRISTINE LONDON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L Cummins

Mr S P Walshe

REGISTERED OFFICE:

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

07489135 (England and Wales)

ACCOUNTANTS:

Raffingers

Chartered Certified Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Tangible assets

4

49,735

4,616

CURRENT ASSETS

Debtors

5

2,002,929

1,669,453

Cash at bank and in hand

36,311

5,680

2,039,240

1,675,133

CREDITORS

Amounts falling due within one year

6

1,209,909

1,152,558

NET CURRENT ASSETS

829,331

522,575

TOTAL ASSETS LESS CURRENT LIABILITIES

879,066

527,191

CREDITORS

Amounts falling due after more than one year

7

(48,808

)

-

PROVISIONS FOR LIABILITIES

(9,614

)

(923

)

NET ASSETS

820,644

526,268

CAPITAL AND RESERVES

Called up share capital

100

99

Retained earnings

8

820,544

526,169

SHAREHOLDERS' FUNDS

820,644

526,268

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

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

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 March 2017 and were signed on its behalf by:

Mr L Cummins - Director

1.	STATUTORY INFORMATION

Pristine London Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that

it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or

substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future

payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2016

10,583

11,721

22,304

Additions

59,388

2,756

62,144

At 31 December 2016

69,971

14,477

84,448

DEPRECIATION

At 1 January 2016

6,118

11,570

17,688

Charge for year

15,964

1,061

17,025

At 31 December 2016

22,082

12,631

34,713

NET BOOK VALUE

At 31 December 2016

47,889

1,846

49,735

At 31 December 2015

4,465

151

4,616

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

59,388

At 31 December 2016

59,388

DEPRECIATION

Charge for year

14,847

At 31 December 2016

14,847

NET BOOK VALUE

At 31 December 2016

44,541

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

1,867,213

1,523,110

Other debtors

135,716

146,343

2,002,929

1,669,453

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

-

344,846

Hire purchase contracts

10,582

-

Trade creditors

635,623

606,743

Taxation and social security

227,046

111,853

Other creditors

336,658

89,116

1,209,909

1,152,558

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts

48,808

-

8.

RESERVES

Retained

earnings

£

At 1 January 2016

526,169

Profit for the year

638,375

Dividends

(344,000

)

At 31 December 2016

820,544

9.	CONTINGENT LIABILITIES

There were no contingent liabilities at the beginning or end of the financial year.

10.	CAPITAL COMMITMENTS

As at 31 December 2016 and 31 December 2015, the company had no capital commitments which had been contracted for but

not provided in the financial statement.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2016 and 31 December 2015:

2016

2015

£

£

Mr S P Walshe

Balance outstanding at start of year

57,557

22,685

Amounts advanced

178,430

57,557

Amounts repaid

(174,000

)

(22,685

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

61,987

57,557

Mr L Cummins

Balance outstanding at start of year

57,557

28,752

Amounts advanced

132,699

57,557

Amounts repaid

(170,000

)

(28,752

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

20,256

57,557

12.	RELATED PARTY DISCLOSURES

The company was controlled up to 7 April 2015 by the directors, Mr L Cummins and Mr S P Walshe, by virtue of their

ownership of 66.67% of the issued share capital. From 7 April 2015 and throughout the current year the company was

controlled by Mr L Cummins and Mr S P Walshe by virtue of their control of the entire issued share capital.

At the previous balance sheet date the company was owed £4,053 by Pristine Waste & Recycling Limited, a company

controlled by Mr L Cummins.

During the year the company paid £344,000 (2015 - £51,500) in dividends to the directors and related parties.

13.	FIRST YEAR ADOPTION

The Company has adopted FRS 102 for the year ended 31 December 2016, with the date of transition being 1 January 2015.

On transition management have considered the effect of any changes in accounting treatment from UK GAAP to FRS 102 for

this company but do not consider there to be any material changes that would warrant restatement of the comparative

financials.