Launch the App Store from your SpringBoard.
Tap the Updates tab at the bottom right.
Tap to select Purchased from top of the Updates list.
Tap to choose My Purchases from the All Purchases window.
Swipe to the left on a purchase you would like to hide.
Tap the red Hide button that appears.
Hiding an app will remove it from the purchased list; however, it can still be redownloaded for free and searching the App Store will indicate that you've purchased the device in the past. You can also unhide a purchase using iTunes for Mac or PC.