28/02/2022
2022-02-28
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No description of principal activities is disclosed
2021-03-01
Sage Accounts Production 21.0 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
04157120
2021-03-01
2022-02-28
04157120
2022-02-28
04157120
2021-02-28
04157120
2020-03-01
2021-02-28
04157120
2021-02-28
04157120
bus:RegisteredOffice
2021-03-01
2022-02-28
04157120
bus:LeadAgentIfApplicable
2021-03-01
2022-02-28
04157120
bus:Director1
2021-03-01
2022-02-28
04157120
bus:Director2
2021-03-01
2022-02-28
04157120
bus:CompanySecretary1
2021-03-01
2022-02-28
04157120
core:WithinOneYear
2022-02-28
04157120
core:WithinOneYear
2021-02-28
04157120
core:LandBuildings
core:OwnedOrFreeholdAssets
2021-02-28
04157120
core:LandBuildings
core:LongLeaseholdAssets
2021-02-28
04157120
core:PlantMachinery
2021-02-28
04157120
core:FurnitureFittingsToolsEquipment
2021-02-28
04157120
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-02-28
04157120
core:LandBuildings
core:LongLeaseholdAssets
2022-02-28
04157120
core:PlantMachinery
2022-02-28
04157120
core:FurnitureFittingsToolsEquipment
2022-02-28
04157120
core:AfterOneYear
2022-02-28
04157120
core:AfterOneYear
2021-02-28
04157120
core:ShareCapital
2022-02-28
04157120
core:ShareCapital
2021-02-28
04157120
core:RetainedEarningsAccumulatedLosses
2022-02-28
04157120
core:RetainedEarningsAccumulatedLosses
2021-02-28
04157120
core:LandBuildings
core:OwnedOrFreeholdAssets
2021-03-01
2022-02-28
04157120
core:LandBuildings
core:LongLeaseholdAssets
2021-03-01
2022-02-28
04157120
core:PlantMachinery
2021-03-01
2022-02-28
04157120
core:FurnitureFittingsToolsEquipment
2021-03-01
2022-02-28
04157120
core:LandBuildings
core:OwnedOrFreeholdAssets
2021-02-28
04157120
core:LandBuildings
core:LongLeaseholdAssets
2021-02-28
04157120
core:PlantMachinery
2021-02-28
04157120
core:FurnitureFittingsToolsEquipment
2021-02-28
04157120
bus:SmallEntities
2021-03-01
2022-02-28
04157120
bus:AuditExemptWithAccountantsReport
2021-03-01
2022-02-28
04157120
bus:FullAccounts
2021-03-01
2022-02-28
04157120
bus:SmallCompaniesRegimeForAccounts
2021-03-01
2022-02-28
04157120
bus:PrivateLimitedCompanyLtd
2021-03-01
2022-02-28
04157120
core:ComputerEquipment
2021-02-28
04157120
core:ComputerEquipment
2021-03-01
2022-02-28
04157120
core:ComputerEquipment
2022-02-28
Company registration number:
04157120
Purpledot Limited
Unaudited filleted financial statements
28 February 2022
PURPLEDOT LIMITED
DIRECTORS AND OTHER INFORMATION
|
|
|
|
Directors |
R A R Winmill |
|
|
S N W Hutchins |
|
|
|
|
|
|
|
Secretary |
R A R Winmill |
|
|
|
|
|
|
|
Company number |
04157120 |
|
|
|
|
|
|
|
Registered office |
The Beach House |
|
|
The Pavillion, Seaton |
|
|
Torpoint |
|
|
Cornwall |
|
|
PL11 3JS |
|
|
|
|
|
|
|
Accountants |
Westcotts (SW) LLP |
|
|
Plym House |
|
|
3 Longbridge Road |
|
|
Plymouth |
|
|
Devon |
|
|
PL6 8LT |
|
|
|
PURPLEDOT LIMITED
STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2022
|
|
|
2022 |
|
|
|
2021 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
1,027,944 |
|
|
|
708,062 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
1,027,944 |
|
|
|
708,062 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
6 |
14,401 |
|
|
|
30,092 |
|
|
Cash at bank and in hand |
|
|
12,498 |
|
|
|
3,968 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
26,899 |
|
|
|
34,060 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
47,085) |
|
|
|
(
69,762) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
20,186) |
|
|
|
(
35,702) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
1,007,758 |
|
|
|
672,360 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
8 |
|
|
(
1,392,522) |
|
|
|
(
946,841) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net liabilities |
|
|
|
|
(
384,764) |
|
|
|
(
274,481) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
166,000 |
|
|
|
166,000 |
Profit and loss account |
|
9 |
|
|
(
550,764) |
|
|
|
(
440,481) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders deficit |
|
|
|
|
(
384,764) |
|
|
|
(
274,481) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 28 February 2022 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
07 September 2022
, and are signed on behalf of the board by:
R A R Winmill
Director
Company registration number:
04157120
PURPLEDOT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Beach House, The Pavillion, Seaton, Torpoint, Cornwall, PL11 3JS.
Principal activity
The principal activity of the company is that of property development.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
Freehold property |
- |
2% straight line
|
|
Leasehold improvements |
- |
5% reducing balance
|
|
Plant and machinery |
- |
15% reducing balance
|
|
Fittings fixtures and equipment |
- |
15% straight line
|
|
Computer equipment |
- |
33% straight line
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability. Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support from the company's directors. If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets as current assets. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
11
(2021:
5
).
5.
Tangible assets
|
|
Freehold property |
Long leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Computer equipment |
Total |
|
|
|
£ |
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 March 2021 |
91,145 |
348,659 |
134,531 |
194,568 |
3,945 |
772,848 |
|
|
Additions |
9,498 |
279,750 |
- |
118,126 |
4,649 |
412,023 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 28 February 2022 |
100,643 |
628,409 |
134,531 |
312,694 |
8,594 |
1,184,871 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 March 2021 |
1,063 |
13,107 |
28,269 |
20,260 |
2,087 |
64,786 |
|
|
Charge for the year |
1,926 |
24,913 |
15,938 |
47,039 |
2,325 |
92,141 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 28 February 2022 |
2,989 |
38,020 |
44,207 |
67,299 |
4,412 |
156,927 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 28 February 2022 |
97,654 |
590,389 |
90,324 |
245,395 |
4,182 |
1,027,944 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 28 February 2021 |
90,082 |
335,552 |
106,262 |
174,308 |
1,858 |
708,062 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Prepayments and accrued income |
|
2,401 |
2,224 |
|
Other debtors |
|
12,000 |
27,868 |
|
|
|
_______ |
_______ |
|
|
|
14,401 |
30,092 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
5,324 |
- |
|
Trade creditors |
|
23,093 |
31,183 |
|
Accruals and deferred income |
|
2,052 |
1,993 |
|
Social security and other taxes |
|
7,380 |
2,464 |
|
Other creditors |
|
9,236 |
34,122 |
|
|
|
_______ |
_______ |
|
|
|
47,085 |
69,762 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due after more than one year
|
|
|
2022 |
2021 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
16,022 |
- |
|
Other creditors |
|
1,376,500 |
946,841 |
|
|
|
_______ |
_______ |
|
|
|
1,392,522 |
946,841 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.