Pure Comms Bristol Limited
Pure Comms Bristol Limited
Registered number: 07075344
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 May 2018
Pure Comms Bristol Limited
Directors' Report and Unaudited Financial Statements
For The Year Ended 31 May 2018
Directors' Report and Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Company Information | 1 |
| Directors' Report | 2 |
| Accountant's Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5—6 |
| Statement of Changes in Equity | 7 |
| Notes to the Financial Statements | 8—14 |
Pure Comms Bristol Limited
Company Information
For The Year Ended 31 May 2018
Company Information
| Directors |
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| Secretary |
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| Company Number |
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| Registered Office | East End Court |
| Tickenham Road | |
| Clevedon | |
| North Somerset | |
| BS21 6QY | |
| Accountants |
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| 10 Park Street | |
| Bristol | |
| BS1 5HX | |
Page 1
Pure Comms Bristol Limited
Company No. 07075344
Directors' Report For The Year Ended 31 May 2018
Directors' Report
The directors present their report and the financial statements for the year ended 31 May 2018 .
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
Principal Activity
The company's principal activity continues to be that of the resale of telecommunication services, and the trading of small exotic animals.
Dividends
The directors recommended no final dividend (2017: £50,000).
Directors
The directors who held office during the year were as follows:
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Political and Charitable Donations
Political and charitable donations were £2,206 (2017: £2,090).
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
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Page 2
Pure Comms Bristol Limited
Accountant's Report
For The Year Ended 31 May 2018
Accountant's Report
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 May 2018 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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 financial statements.
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Park House
10 Park Street
Bristol
BS1 5HX
Page 3
Pure Comms Bristol Limited
Profit and Loss Account
For The Year Ended 31 May 2018
Profit and Loss Account
| 2018 | 2017 | |||
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| Notes | £ | £ | ||
| TURNOVER |
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| Cost of sales |
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| GROSS PROFIT |
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| Administrative expenses |
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| OPERATING PROFIT | 2 |
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| Profit on disposal of fixed assets |
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| Other interest receivable and similar income |
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| Interest payable and similar charges | 5 |
( |
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| PROFIT/(LOSS) BEFORE TAXATION |
( |
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| Tax on Profit/(Loss) | 6 |
( |
( |
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| PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
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The notes on pages 8 to 14 form part of these financial statements.
Page 4
Pure Comms Bristol Limited
Balance Sheet
As at
31 May 2018
Balance Sheet
| 2018 | 2017 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 7 |
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| Tangible Assets | 8 |
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| CURRENT ASSETS | |||||
| Stocks | 9 |
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| Debtors | 10 |
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| Investments | 11 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 12 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 13 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 15 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (13,620) | 1,172 | |||
Page 5
Pure Comms Bristol Limited
Balance Sheet (continued)
As at
31 May 2018
Directors' responsibilities:
-
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 in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
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The notes on pages 8 to 14 form part of these financial statements.
Page 6
Pure Comms Bristol Limited
Statement of Changes in Equity
For The Year Ended 31 May 2018
Statement of Changes in Equity
| Share Capital | Profit and Loss Account | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 1 June 2016 |
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19,597 |
| Profit for the year and total comprehensive income | - |
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31,575 |
| Dividends paid | - | (50,000) | (50,000) |
| As at 31 May 2017 and 1 June 2017 |
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1,172 |
| Loss for the year and total comprehensive income | - |
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(14,792) |
| Dividends paid | - | - | - |
| As at |
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( |
(13,620) |
Page 7
Pure Comms Bristol Limited
Notes to the Financial Statements
For The Year Ended 31 May 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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1.5.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.6.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 8
Pure Comms Bristol Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2018
1.7.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Operating Profit
The operating profit is stated after charging:
| 2018 | 2017 | ||
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| £ | £ | ||
| Directors' remuneration |
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| Depreciation of tangible fixed assets |
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| Amortisation of intangible fixed assets |
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3.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| 2018 | 2017 | ||
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| £ | £ | ||
| Wages and salaries |
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| Social security costs |
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| Other pension costs |
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Page 9
Pure Comms Bristol Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2018
4.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2018 | 2017 | ||
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| Office and administration |
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| Sales, marketing and distribution |
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5.
Interest Payable
| 2018 | 2017 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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| Factoring charges | 1,927 | 1,946 | |
| Finance charges payable under finance leases and hire purchase contracts |
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| Other finance charges |
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6.
Tax on Profit
| Tax Rate | 2018 | 2017 | |||
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| 2018 | 2017 | £ | £ | ||
| UK Corporation Tax | 19.0 | 20.0 |
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| Total Current Tax Charge |
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| Total tax charge for the period |
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| 2018 | 2017 | ||||
| £ | £ | ||||
| Profit before tax | (5,451) | 52,782 | |||
| Breakdown of Tax Charge is: | |||||
| Tax on profit at 19% (UK standard rate) |
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| Goodwill/depreciation not allowed for tax |
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| Expenses not deductible for tax purposes |
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| Capital allowances |
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| Total tax charge for the period | 9,341 | 21,207 | |||
The corporation tax rate changed during the company financial year, from 20% to 19% effective 1st April 2017.
Page 10
Pure Comms Bristol Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2018
7.
Intangible Assets
| Goodwill | |||
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| £ | |||
| Cost | |||
| As at |
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| Additions |
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| Amortisation | |||
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| Provided during the period |
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| Net Book Value | |||
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8.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Total | |
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| £ | £ | £ | |
| Cost | |||
| As at |
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| Additions |
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| Disposals |
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| Depreciation | |||
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| Provided during the period |
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| Disposals |
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| Net Book Value | |||
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9.
Stocks
| 2018 | 2017 | ||
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| £ | £ | ||
| Stock | 62,950 | 50,078 | |
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Page 11
Pure Comms Bristol Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2018
10.
Debtors
| 2018 | 2017 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| The UK Pure Office Ltd |
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| Pure Aquatics Ltd |
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| Pure Reptiles Ltd |
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| Directors' loan accounts | 40,339 | 21,737 | |
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11.
Current Asset Investments
| 2018 | 2017 | ||
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| £ | £ | ||
| Unlisted investments | 1 | 1 | |
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The company owns £1 ordinary shares of The UK Pure Office Ltd, which is the wholly issued share capital.
12.
Creditors: Amounts Falling Due Within One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| Other taxes and social security |
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| VAT |
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| Credit card |
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| Pensions payable |
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| Accruals and deferred income |
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Repayment of the loan balance has been personally guaranteed by Director Rob Vivian.
Page 12
Pure Comms Bristol Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2018
13.
Creditors: Amounts Falling Due After More Than One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Bank loans |
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Repayment of the loan balance has been personally guaranteed by Director Rob Vivian.
14.
Obligations Under Finance Leases and Hire Purchase
| 2018 | 2017 | ||
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| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
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| Between one and five years |
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16.
Other Commitments
At the end of the period the company had annual commitments under non-cancellable operating leases as follows:
| Other | ||
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| 2018 | 2017 | |
| £ | £ | |
| Within 1 year | - | 26,092 |
| Between 1 and 5 years | - | 47,835 |
| - | 73,927 | |
17.
Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
Page 13
Pure Comms Bristol Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 May 2018
18.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at |
Amounts advanced | Amounts repaid | Amounts written off | As at |
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| £ | £ | £ | £ | £ | |
| Mr Robert Vivian |
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The above loan is unsecured, interest free and repayable on demand.
19.
Dividends
| 2018 | 2017 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
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| - | 50,000 | ||
20.
Ultimate Controlling Party
The company's ultimate controlling party is R Vivian by virtue of his ownership of 100% of the issued share capital in the company.
21.
General Information
Pure Comms Bristol Limited Registered number 07075344 is a limited by shares company incorporated in England & Wales. The Registered Office is East End Court, Tickenham Road, Clevedon, North Somerset, BS21 6QY.
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