Pure Pricing Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04080217 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

PURE PRICING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mrs J Travell

Mrs A Arnison

Registered office:

305 Regents Park Road

Finchley

London

N3 1DP

Registered number:

04080217 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

305 Regents Park Road

Finchley

London

N3 1DP

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

822

1,095

822

1,095

Current assets

Debtors

6

29,859

118,980

Cash at bank and in hand

170,967

117,670

200,826

236,650

Creditors

Amounts falling due within one year

7

99,690

186,789

Net current assets

101,136

49,861

Total assets less current liabilities

101,958

50,956

Capital and reserves

Called up share capital

500

500

Retained earnings

101,458

50,456

Shareholders' funds

101,958

50,956

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 30 October 2017 and were signed on its behalf by:

Mrs A Arnison - Director

1.	Statutory information

Pure Pricing 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.

Changes in accounting policies

The first date at which FRS 102 s1A was applied was 1 April 2015.

In accordance with FRS 102 s1A the company has:

- provided comparative information;

- applied the same accounting policies throughout all periods presented; and

- retrospectively applied FRS 102 s1A as required.

On transition, management have considered the effect of any changes in accounting treatment from the

Financial Reporting Standard for Smaller Entities (effective January 2015) to FRS 102 s1A for this company

and have concluded that there are no material changes that warrant restatement of the comparative financials.

Turnover

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

value added tax and other sales taxes.

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.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party

to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 3 (2016 - 3 ) .

4.	Intangible fixed assets

Development

costs

£

Cost

At 1 April 2016

and 31 March 2017

2,390

Amortisation

At 1 April 2016

and 31 March 2017

2,390

Net book value

At 31 March 2017

-

At 31 March 2016

-

5.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 April 2016

and 31 March 2017

3,276

6,119

9,395

Depreciation

At 1 April 2016

3,218

5,082

8,300

Charge for year

14

259

273

At 31 March 2017

3,232

5,341

8,573

Net book value

At 31 March 2017

44

778

822

At 31 March 2016

58

1,037

1,095

6.

Debtors: amounts falling due within one year

2017

2016

£

£

Trade debtors

29,859

118,980

7.

Creditors: amounts falling due within one year

2017

2016

£

£

Trade creditors

1,059

409

Tax

37,674

37,335

Social security and other taxes

-

813

VAT

11,270

25,576

Directors' current accounts

539

24,032

Accruals & deferred income

49,148

98,624

99,690

186,789

8.	First year adoption

The company has transitioned to FRS 102 from previously being prepared under the historical cost convention

and in accordance with the Financial Reporting Standards for Smaller Entities (effective January 2015) as at 1

April 2015.

Reconciliation of equity

No transitional adjustments were required.

Reconciliation of profit or loss for the year

No transitional adjustments were required.