Company Registration No. 07226068 (England and Wales)
Purepak Limited
Unaudited accounts
for the year ended 31 May 2018
Purepak Limited
Unaudited accounts
Contents
Purepak Limited
Company Information
for the year ended 31 May 2018
Directors
Mr Shakeel Osman
Mrs Mehzabeen Shakeel Osman
Company Number
07226068 (England and Wales)
Registered Office
24 Vulcan House
Vulcan Road
Leicester
LE5 3EF
Accountants
Ghumra & Co Limited
45 Broadway Road
Leicester
LE5 5TB
Purepak Limited
Statement of financial position
as at 31 May 2018
Cash at bank and in hand
45,224
32,112
Creditors: amounts falling due within one year
(39,056)
(40,162)
Net current assets
28,431
16,148
Called up share capital
34,000
34,000
Profit and loss account
(5,016)
(16,853)
Shareholders' funds
28,984
17,147
For the year ending 31 May 2018 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 5 November 2018.
Mr Shakeel Osman
Director
Company Registration No. 07226068
Purepak Limited
Notes to the Accounts
for the year ended 31 May 2018
Purepak Limited is a private company, limited by shares, registered in England and Wales, registration number 07226068. The registered office is 24 Vulcan House, Vulcan Road, Leicester, LE5 3EF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts are presented in £ sterling.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Purepak Limited
Notes to the Accounts
for the year ended 31 May 2018
4
Tangible fixed assets
Plant & machinery
Trade debtors
21,734
23,637
6
Creditors: amounts falling due within one year
2018
2017
Trade creditors
1,666
2,394
Taxes and social security
326
154
Loans from directors
36,664
37,214
Allotted, called up and fully paid:
34,000 Ordinary shares of £1 each
34,000
34,000
8
Average number of employees
During the year the average number of employees was 2 (2017: 3).
