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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
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PURE HEALTH LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
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FOR |
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PURE HEALTH LIMITED |
PURE HEALTH LIMITED (REGISTERED NUMBER: 03317570) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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PURE HEALTH LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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PURE HEALTH LIMITED (REGISTERED NUMBER: 03317570) |
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BALANCE SHEET |
31 DECEMBER 2017 |
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31.12.17 | 31.12.16 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | 10 |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
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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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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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PURE HEALTH LIMITED (REGISTERED NUMBER: 03317570) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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1. | STATUTORY INFORMATION |
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Pure Health Limited is a
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number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these |
financial statements are rounded to the nearest £. |
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Significant judgements and estimates |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies |
have been consistently applied to all years presented unless otherwise stated. |
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Critical accounting judgements and key sources of estimation uncertainty |
In the application of the company's accounting policies, management have been required to make judgements, estimates and |
assumptions. These estimates relate to the carrying value of assets and liabilities that are based on underlying assumptions |
and other factors, which are considered to be relevant. Actual results may differ from these estimates. These estimates and |
assumptions are reviewed on an on-going basis. |
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There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial |
statements. |
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Turnover and other income |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The |
policies adopted for the recognition of turnover are as follows: |
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Sale of goods |
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Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred |
to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the |
transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured |
reliably. This is usually on dispatch of goods. |
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Rendering of services |
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When the outcome of a transaction can be estimated reliably, turnover from provision of consultancy is recognised by |
reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to time already |
spent. |
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Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that |
are recoverable. |
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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. |
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Patent and licences |
Patent cost incurred is written off in equal instalments over 10 years. |
PURE HEALTH LIMITED (REGISTERED NUMBER: 03317570) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Development cost |
Development expenditure is written off in the year of expenditure except in the following circumstances when it may be |
deferred to future periods:- |
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- the project is clearly defined |
- the expenditure can be separately identifiable |
- the outcome of the project has been assessed with reasonable certainty in relation to its technical feasibility and its ultimate |
commercial viability considered in the light of factors such as likely market conditions (including competing products), public |
opinion, consumer and environmental legislator and |
- the aggregate of the deferred development costs, and any further development costs, and related production, selling and |
administration costs is reasonably expected to be exceeded by related future sales or other revenues and; |
- adequate resources exist to enable the project to be completed and provide consequential increases in working capital. |
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Capitalised development expenditure is amortised at 20% on cost. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated |
impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and |
condition necessary for it to be capable of operating in the manner intended by the management. |
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The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when the cost |
is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of |
the replaced part is derecognised. Repairs and maintenance are charged to profit and loss during the period in which they are |
incurred. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the |
carrying value of the asset, and is recognised in the profit and loss account. |
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or |
if there is an indication of a significant change since the last reporting date. |
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Impairment |
A review for indicators of impairment is carried out at each reporting date with the recoverable amount being estimated where |
such indicators exists. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, being the estimated selling price less costs to complete and |
sell after making due allowance for damaged, obsolete and slow moving stock where appropriate. |
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Stock is measured using standard costing which includes labour and attributable overheads on a first in, first out basis. At |
balance sheet date, stocks are assessed for impairment. The impairment loss is recognised immediately in profit and loss. |
PURE HEALTH LIMITED (REGISTERED NUMBER: 03317570) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial |
Instruments Issues' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognised in the company's statement of financial position when the company becomes party to |
the contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and |
settle the liability simultaneously. |
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Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price |
including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the |
arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts |
discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
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Other financial assets |
Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market |
are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest |
method, less any impairment. |
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Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest |
would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of |
allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated |
future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition. |
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Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each |
reporting end date. |
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Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the |
initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the |
impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted |
at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. |
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If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the |
impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount |
would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss |
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Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or |
when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if |
some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is |
able to sell the asset in its entirety to an unrelated third party. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered |
into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of |
its liabilities. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are |
classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, |
where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
Financial liabilities classified as payable within one year are not amortised. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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PURE HEALTH LIMITED (REGISTERED NUMBER: 03317570) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from |
suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are |
presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at |
amortised cost using the effective interest method. |
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Other financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered |
into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of |
its liabilities. |
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Derecognition of financial liabilities |
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled. |
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Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is |
probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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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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. |
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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. |
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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 profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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PURE HEALTH LIMITED (REGISTERED NUMBER: 03317570) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2017 |
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Additions |
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At 31 December 2017 |
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AMORTISATION |
At 1 January 2017 |
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Charge for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2017 |
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Additions |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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6. | STOCKS |
31.12.17 | 31.12.16 |
£ | £ |
Finished goods |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Trade debtors |
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Other debtors |
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PURE HEALTH LIMITED (REGISTERED NUMBER: 03317570) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.17 | 31.12.16 |
value: | £ | £ |
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Ordinary | £1 | 297 | 297 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2017 |
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Profit for the year |
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Dividends | ( |
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At 31 December 2017 |
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11. | CONTINGENT LIABILITIES |
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The company's bankers have secured a deed of charge over credit balances for securing all monies dues or to become due |
from the company to the bank on any account and in any manner whatsoever. |