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Abbreviated Unaudited Accounts |
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for the Year Ended 31 October 2016 |
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for |
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The Purple Turtle Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 October 2016 |
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for |
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The Purple Turtle Limited |
The Purple Turtle Limited (Registered number: 03233477) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 October 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
The Purple Turtle Limited |
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Company Information |
for the Year Ended 31 October 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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The Purple Turtle Limited (Registered number: 03233477) |
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Abbreviated Balance Sheet |
31 October 2016 |
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31.10.16 | 31.10.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors | 3 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
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The financial statements were approved by the Board of Directors on
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The Purple Turtle Limited (Registered number: 03233477) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 October 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Income is recognised at the point at which goods are sold. |
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Tangible fixed assets |
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Leasehold | - |
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Fixtures and fittings | - |
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Office equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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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 the profit and loss account in the period to which they relate. |
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Going concern justification |
The company is dependent upon the continued support of its directors. The directors have confirmed that this |
support will continue for the foreseeable future. The directors have reviewed their projections for the current year |
and anticipate that the company will continue to trade profitability. On this basis the directors consider it |
appropriate to prepare the accounts on the going concern basis. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 November 2015 |
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Additions |
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At 31 October 2016 |
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DEPRECIATION |
At 1 November 2015 |
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Charge for year |
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At 31 October 2016 |
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NET BOOK VALUE |
At 31 October 2016 |
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At 31 October 2015 | 419,982 |
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3. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
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The aggregate total of debtors falling due after more than one year is £
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The Purple Turtle Limited (Registered number: 03233477) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 October 2016 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.16 | 31.10.15 |
value: | £ | £ |
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Ordinary | £1 |
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5. | ULTIMATE PARENT COMPANY |
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All the Company's 100 issued shares are held by Purple Turtle (Holdings) Limited, a company registered in |
England and Wales. |
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6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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At the balance sheet date the following loans had been made to the company by the directors |
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Loan from D P Fraifeld - £416,044 (2015 - £517,176). |
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Loan from G S Muden - £496,048 (2015 - £573,697) |
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Interest of 3% was charged to the company on the above loans during the year and the total amount charged |
was as follows: |
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Interest charged by D P Fraifeld - £9,124 (2015 - £15,950) |
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Interest charged by G S Muden - £10,188 (2015 - £17,239) |
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The loans have no fixed date for repayment. |