Company Registration No. 08187142 (England and Wales)
SO PURPLE GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
SO PURPLE GROUP LIMITED
CONTENTS
Page
Accountants' report
1
Group balance sheet
2 - 3
Company balance sheet
4 - 5
Notes to the financial statements
6 - 15
SO PURPLE GROUP LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SO PURPLE GROUP LIMITED FOR THE YEAR ENDED 31 JANUARY 2022
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of So Purple Group Limited for the year ended 31 January 2022 which comprise, the group balance sheet, the company balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation

This report is made solely to the Board of Directors of So Purple Group Limited, as a body, in accordance with the terms of our engagement letter dated 23 January 2019. Our work has been undertaken solely to prepare for your approval the financial statements of So Purple Group Limited and state those matters that we have agreed to state to the Board of Directors of So Purple Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than So Purple Group Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that So Purple Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of So Purple Group Limited. You consider that So Purple Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of So Purple Group Limited. 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 statutory financial statements.

PM+M Solutions for Business LLP
13 July 2022
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
SO PURPLE GROUP LIMITED
GROUP BALANCE SHEET
AS AT
31 JANUARY 2022
31 January 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
4
928,083
985,849
Tangible assets
5
40,714
74,130
968,797
1,059,979
Current assets
Stocks
-
0
2,177
Debtors
8
4,250,719
2,409,629
Cash at bank and in hand
2,209,685
1,533,679
6,460,404
3,945,485
Creditors: amounts falling due within one year
9
(8,382,726)
(6,433,028)
Net current liabilities
(1,922,322)
(2,487,543)
Total assets less current liabilities
(953,525)
(1,427,564)
Creditors: amounts falling due after more than one year
10
(4,650,297)
(2,408,213)
Provisions for liabilities
(14,085)
(12,697)
Net liabilities
(5,617,907)
(3,848,474)
Capital and reserves
Called up share capital
192
192
Share premium account
12,233,517
12,233,517
Equity reserve
2,883,343
2,883,343
Capital redemption reserve
6
6
Profit and loss reserves
(20,734,965)
(18,965,532)
Total equity
(5,617,907)
(3,848,474)

The directors of the group have elected not to include a copy of the profit and loss account within the financial statements.

SO PURPLE GROUP LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2022
31 January 2022
- 3 -

For the financial year ended 31 January 2022 the group was entitled to exemption from audit under section 477 of the Companies Act 2006.

Directors' responsibilities under the Companies Act 2006:

 

These financial statements have been prepared in accordance with the provisions applicable to groups and companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 July 2022 and are signed on its behalf by:
13 July 2022
Mr G Wheeldon
Director
SO PURPLE GROUP LIMITED
COMPANY BALANCE SHEET
AS AT 31 JANUARY 2022
31 January 2022
- 4 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
6
1,276
1,276
Current assets
Debtors
8
14,885,719
14,086,923
Cash at bank and in hand
24,341
390,473
14,910,060
14,477,396
Creditors: amounts falling due within one year
9
(900)
(900)
Net current assets
14,909,160
14,476,496
Total assets less current liabilities
14,910,436
14,477,772
Creditors: amounts falling due after more than one year
10
(407,201)
(395,341)
Net assets
14,503,235
14,082,431
Capital and reserves
Called up share capital
192
192
Share premium account
12,233,517
12,233,517
Equity reserve
2,883,343
2,883,343
Capital redemption reserve
6
6
Profit and loss reserves
(613,823)
(1,034,627)
Total equity
14,503,235
14,082,431
SO PURPLE GROUP LIMITED
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2022
31 January 2022
- 5 -

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £420,804 (2021 - £397,895 profit).

For the financial year ended 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 July 2022 and are signed on its behalf by:
13 July 2022
Mr G Wheeldon
Director
Company Registration No. 08187142
SO PURPLE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
- 6 -
1
Accounting policies
Company information

So Purple Group Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Arbeta, 11 Northampton Road, Manchester, M40 5BP.

 

The group consists of So Purple Group Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Basis of consolidation

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

The consolidated group financial statements consist of the financial statements of the parent company So Purple Group Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 January 2022. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

SO PURPLE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
1
Accounting policies
(Continued)
- 7 -
1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Turnover from licences for the provision of information technology services is recognised in the period the licence is delivered and spread on a monthly basis over the agreed contract term.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Goodwill
over 15 years
SO PURPLE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
1
Accounting policies
(Continued)
- 8 -
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line

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.

1.7
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

SO PURPLE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
1
Accounting policies
(Continued)
- 9 -
1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11
Financial instruments

The group 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.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and 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.

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.

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.

 

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.

 

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.

Derecognition of financial assets

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

SO PURPLE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
1
Accounting policies
(Continued)
- 10 -
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 group after deducting all of its liabilities.

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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

SO PURPLE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
1
Accounting policies
(Continued)
- 11 -
1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.17
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2022
2021
2022
2021
Number
Number
Number
Number
Total
113
93
5
6
SO PURPLE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
- 12 -
4
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 February 2021
1,079,359
Additions
16,329
At 31 January 2022
1,095,688
Amortisation and impairment
At 1 February 2021
93,510
Amortisation charged for the year
74,095
At 31 January 2022
167,605
Carrying amount
At 31 January 2022
928,083
At 31 January 2021
985,849
The company had no intangible fixed assets at 31 January 2022 or 31 January 2021.
5
Tangible fixed assets
Group
Fixtures and fittings
£
Cost
At 1 February 2021
348,055
Additions
28,353
Disposals
(123,187)
At 31 January 2022
253,221
Depreciation and impairment
At 1 February 2021
273,925
Depreciation charged in the year
57,933
Eliminated in respect of disposals
(119,351)
At 31 January 2022
212,507
Carrying amount
At 31 January 2022
40,714
At 31 January 2021
74,130
The company had no tangible fixed assets at 31 January 2022 or 31 January 2021.
SO PURPLE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
- 13 -
6
Fixed asset investments
Group
Company
2022
2021
2022
2021
£
£
£
£
-
0
-
0
1,276
1,276
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 February 2021 and 31 January 2022
1,276
Carrying amount
At 31 January 2022
1,276
At 31 January 2021
1,276
7
Subsidiaries

Details of the company's subsidiaries at 31 January 2022 are as follows:

Name of undertaking
Class of
% Held
shares held
Direct
Indirect
Purple WiFi Holdings Ltd
Ordinary
100.00
0
Purple WiFi Ltd
Ordinary
0
100.00
Venue WiFi Ltd
Ordinary
0
100.00
Purple WiFi Inc
Ordinary
100.00
0

Registered office addresses (all UK unless otherwise indicated):

Purple WiFi Holdings Ltd
Meadowbank Offices Junction 22 Business Park, Tweedale Way, Chadderton, Oldham, OL9 8EH
Purple WiFi Ltd
Meadowbank Offices Junction 22 Business Park, Tweedale Way, Chadderton, Oldham, OL9 8EH
Venue WiFi Ltd
Meadowbank Offices Junction 22 Business Park, Tweedale Way, Chadderton, Oldham, OL9 8EH
Purple WiFi Inc
Meadowbank Offices Junction 22 Business Park, Tweedale Way, Chadderton, Oldham, OL9 8EH
SO PURPLE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
- 14 -
8
Debtors
Group
Company
2022
2021
2022
2021
Amounts falling due within one year:
£
£
£
£
Trade debtors
3,085,276
1,646,748
-
0
-
0
Corporation tax recoverable
876,892
561,161
-
0
-
0
Other debtors
288,551
201,720
-
-
4,250,719
2,409,629
-
0
-
0
Amounts falling due after more than one year:
Amounts owed by group
-
0
-
0
14,885,719
14,086,923
Total debtors
4,250,719
2,409,629
14,885,719
14,086,923
9
Creditors: amounts falling due within one year
Group
Company
2022
2021
2022
2021
£
£
£
£
Bank loans
11
983,473
-
0
-
0
-
0
Other borrowings
11
300,587
547,259
-
0
-
0
Trade creditors
576,752
334,998
-
0
-
0
Other taxation and social security
409,779
935,353
-
-
Deferred income
12
5,253,375
4,211,074
-
0
-
0
Other creditors
127,747
87,470
-
0
-
0
Accruals and deferred income
731,013
316,874
900
900
8,382,726
6,433,028
900
900
10
Creditors: amounts falling due after more than one year
Group
Company
2022
2021
2022
2021
Notes
£
£
£
£
Bank loans and overdrafts
11
1,529,003
-
0
-
0
-
0
Other borrowings
11
34,770
335,783
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
407,201
395,341
Deferred income
12
3,086,524
2,072,430
-
0
-
0
4,650,297
2,408,213
407,201
395,341
SO PURPLE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
- 15 -
11
Loans and overdrafts
Group
Company
2022
2021
2022
2021
£
£
£
£
Bank loans
2,512,476
-
0
-
0
-
0
Other loans
335,357
883,042
-
-
2,847,833
883,042
-
-
Payable within one year
1,284,060
547,259
-
-
Payable after one year
1,563,773
335,783
-
0
-
0

The long-term loans amounting to £2,803,053 are secured by fixed and floating charges over the assets of the company. A further long-term loan amounting to £44,780, is secured by government guarantee.

12
Deferred income
Group
Company
2022
2021
2022
2021
£
£
£
£
Other deferred income
8,339,899
6,283,504
-
-

Deferred income is included in the financial statements as follows:

Current liabilities
5,253,375
4,211,074
-
0
-
0
Non-current liabilities
3,086,524
2,072,430
-
0
-
0
8,339,899
6,283,504
-
-
13
Operating lease commitments

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

Group
Company
2022
2021
2022
2021
£
£
£
£
96,514
128,023
-
-
2022-01-312021-02-01falseCCH SoftwareCCH Accounts Production 2022.200No description of principal activityMr P LeeMr G WheeldonMr J OliverSir T LeahyMr R WillettMr S Bossons081871422021-02-012022-01-3108187142bus:Consolidated2022-01-31081871422022-01-3108187142bus:Consolidated2021-01-3108187142core:FurnitureFittingsbus:Consolidated2022-01-3108187142core:FurnitureFittingsbus:Consolidated2021-01-3108187142core:ShareCapitalbus:Consolidated2022-01-3108187142core:ShareCapitalbus:Consolidated2021-01-3108187142core:SharePremiumbus:Consolidated2022-01-3108187142core:SharePremiumbus:Consolidated2021-01-3108187142core:OtherReservesSubtotalbus:Consolidated2022-01-3108187142core:OtherReservesSubtotalbus:Consolidated2021-01-3108187142core:CapitalRedemptionReservebus:Consolidated2022-01-3108187142core:CapitalRedemptionReservebus:Consolidated2021-01-3108187142core:ShareCapital2022-01-3108187142core:ShareCapital2021-01-3108187142core:SharePremium2022-01-3108187142core:SharePremium2021-01-3108187142core:OtherReservesSubtotal2022-01-3108187142core:OtherReservesSubtotal2021-01-3108187142core:CapitalRedemptionReserve2022-01-3108187142core:CapitalRedemptionReserve2021-01-3108187142bus:Director22021-02-012022-01-31081871422021-01-3108187142core:CurrentFinancialInstruments2022-01-3108187142core:CurrentFinancialInstruments2021-01-3108187142core:IntangibleAssetsOtherThanGoodwill2021-02-012022-01-3108187142core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2021-02-012022-01-3108187142core:FurnitureFittings2021-02-012022-01-3108187142bus:Consolidated2021-02-012022-01-3108187142bus:Consolidated2020-02-012021-01-31081871422020-02-012021-01-3108187142core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2021-01-3108187142core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2022-01-3108187142core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2021-02-012022-01-3108187142core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwillbus:Consolidated2021-01-3108187142core:FurnitureFittingsbus:Consolidated2021-01-3108187142core:FurnitureFittingsbus:Consolidated2021-02-012022-01-3108187142core:Subsidiary12021-02-012022-01-3108187142core:Subsidiary22021-02-012022-01-3108187142core:Subsidiary32021-02-012022-01-3108187142core:Subsidiary42021-02-012022-01-3108187142core:Subsidiary112021-02-012022-01-3108187142core:Subsidiary222021-02-012022-01-3108187142core:Subsidiary332021-02-012022-01-3108187142core:Subsidiary442021-02-012022-01-3108187142core:WithinOneYearbus:Consolidated2022-01-3108187142core:WithinOneYearbus:Consolidated2021-01-3108187142core:CurrentFinancialInstrumentscore:WithinOneYear2022-01-3108187142core:CurrentFinancialInstrumentscore:WithinOneYear2021-01-3108187142core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2022-01-3108187142core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2021-01-3108187142core:Non-currentFinancialInstrumentscore:AfterOneYear2022-01-3108187142core:Non-currentFinancialInstrumentscore:AfterOneYear2021-01-3108187142core:CurrentFinancialInstrumentsbus:Consolidated2022-01-3108187142core:CurrentFinancialInstrumentsbus:Consolidated2021-01-3108187142core:Non-currentFinancialInstrumentsbus:Consolidated2022-01-3108187142core:Non-currentFinancialInstrumentsbus:Consolidated2021-01-3108187142core:Non-currentFinancialInstruments2022-01-3108187142core:Non-currentFinancialInstruments2021-01-3108187142core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2022-01-3108187142core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2021-01-3108187142bus:PrivateLimitedCompanyLtd2021-02-012022-01-3108187142bus:SmallCompaniesRegimeForAccounts2021-02-012022-01-3108187142bus:FRS1022021-02-012022-01-3108187142bus:AuditExemptWithAccountantsReport2021-02-012022-01-3108187142bus:ConsolidatedGroupCompanyAccounts2021-02-012022-01-3108187142bus:Director12021-02-012022-01-3108187142bus:Director32021-02-012022-01-3108187142bus:Director42021-02-012022-01-3108187142bus:Director52021-02-012022-01-3108187142bus:Director62021-02-012022-01-3108187142bus:FullAccounts2021-02-012022-01-31xbrli:purexbrli:sharesiso4217:GBP