Pure Acoustic Limited - Accounts to registrar (filleted) - small 18.2
Pure Acoustic Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2017 |
| for |
| Pure Acoustic Limited |
| Pure Acoustic Limited (Registered number: 07513892) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 6 |
| Pure Acoustic Limited |
| Company Information |
| for the Year Ended 31 December 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 4 Claridge Court |
| Lower Kings Road |
| Berkhamsted |
| Hertfordshire |
| HP4 2AF |
| Pure Acoustic Limited (Registered number: 07513892) |
| Balance Sheet |
| 31 December 2017 |
| 31.12.17 | 31.12.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Property, plant and equipment | 5 |
| CURRENT ASSETS |
| Inventories |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| 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 on its behalf by: |
| Pure Acoustic Limited (Registered number: 07513892) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2017 |
| 1. | STATUTORY INFORMATION |
| Pure Acoustic Limited is a |
| 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 |
| Going concern |
| In preparing the accounts and reviewing the company's net current liability position of £111,410 |
| (2016:£99,740) the directors have considered going concern and that the company will continue to |
| trade for the foreseeable future. |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding |
| discounts, rebates, value added tax and other sales taxes. |
| Intangible fixed assets |
| Patents and licences are being amortised over an estimated useful life of 10 years |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Inventories are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| 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. |
| Pure Acoustic Limited (Registered number: 07513892) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 January 2017 |
| Additions |
| At 31 December 2017 |
| AMORTISATION |
| At 1 January 2017 |
| Charge for year |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| Included in Intangible Fixed assets is investment at cost in three separate technologies comprising |
| patent and related expenditure |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2017 |
| Additions |
| At 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for year |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| Pure Acoustic Limited (Registered number: 07513892) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Other creditors |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 December 2017 |
| and 31 December 2016: |
| 31.12.17 | 31.12.16 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| 9. | RELATED PARTY DISCLOSURES |
| The Directors have resolved not to seek repayment of their interest free loans, included in Other |
| Creditors, in preference to any other creditor. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Pure Acoustic Limited |
| The following reproduces the text of the report prepared for the directors in respect of the |
| company's annual unaudited financial statements. In accordance with the Companies Act 2006, the |
| company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement |
| and certain other primary statements and the Report of the Directors are not required to be filed |
| with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your |
| approval the financial statements of Pure Acoustic Limited for the year ended 31 December 2017 which |
| comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Pure Acoustic Limited, as a body, in accordance with the terms of our engagement letter dated 5 March 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Pure Acoustic Limited and state those matters that we have agreed to state to the Board of Directors of Pure Acoustic Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pure Acoustic Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Pure Acoustic Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Pure Acoustic Limited. You consider that Pure Acoustic Limited 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 financial statements of Pure Acoustic Limited. 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 financial statements. |
| Chartered Accountants |
| 4 Claridge Court |
| Lower Kings Road |
| Berkhamsted |
| Hertfordshire |
| HP4 2AF |