Company Registration No. 04953670 (England and Wales)
PURPLE VISION LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
PURPLE VISION LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PURPLE VISION LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
3,022
-
Tangible assets
2
5,127
2,540
8,149
2,540
Current assets
Debtors
128,676
85,677
Cash at bank and in hand
23,462
83,948
152,138
169,625
Creditors: amounts falling due within one year
(155,639)
(115,211)
Net current liabilities/(assets)
(3,501)
54,414
Total assets less current liabilities
4,648
56,954
Provisions for liabilities
(1,025)
-
3,623
56,954
Capital and reserves
Called up share capital
3
120
120
Share premium account
4,990
4,990
Profit and loss account
(1,487)
51,844
Shareholders' funds
3,623
56,954
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 18 December 2015
S S Thomas
Director
Company Registration No. 04953670
PURPLE VISION LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the comapny to continue as a going concern.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Property improvements
25% straight line
Fixtures, fittings & equipment
33% straight line
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
PURPLE VISION LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014
-
15,015
15,015
Additions
4,512
6,057
10,569
At 31 March 2015
4,512
21,072
25,584
Depreciation
At 1 April 2014
-
12,474
12,474
Charge for the year
1,490
3,471
4,961
At 31 March 2015
1,490
15,945
17,435
Net book value
At 31 March 2015
3,022
5,127
8,149
At 31 March 2014
-
2,540
2,540
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
20 A Ordinary shares of £1 each
20
20
120
120