Purple Onion Associates Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08333101 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Purple Onion Associates Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J C Byrne

Mrs S L Byrne

REGISTERED OFFICE:

The Old School

188 Liscard Road

Liscard

Merseyside

CH44 5TN

REGISTERED NUMBER:

08333101 (England and Wales)

ACCOUNTANTS:

Oddpenny Ltd

Chartered Accountants

46 Christchurch Road

Prenton

Merseyside

CH43 5SF

FIXED ASSETS

Intangible assets

3

3,000

6,000

Tangible assets

4

64

193

3,064

6,193

CURRENT ASSETS

Debtors

5

323

242

Cash at bank

2,485

5,846

2,808

6,088

CREDITORS

Amounts falling due within one year

6

15,144

20,198

NET CURRENT LIABILITIES

(12,336

)

(14,110

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,272

)

(7,917

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(9,372

)

(8,017

)

SHAREHOLDERS' FUNDS

(9,272

)

(7,917

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 14 November 2017 and were signed on its behalf by:

J C Byrne - Director

1.	STATUTORY INFORMATION

Purple Onion Associates Ltd 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% 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 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.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

15,000

AMORTISATION

At 1 April 2016

9,000

Charge for year

3,000

At 31 March 2017

12,000

NET BOOK VALUE

At 31 March 2017

3,000

At 31 March 2016

6,000

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

514

DEPRECIATION

At 1 April 2016

321

Charge for year

129

At 31 March 2017

450

NET BOOK VALUE

At 31 March 2017

64

At 31 March 2016

193

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

323

-

Other debtors

-

242

323

242

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

-

1

Other creditors

15,144

20,197

15,144

20,198

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J C Byrne.