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REGISTERED NUMBER: 07498502 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Purple Athlete Limited

Purple Athlete Limited (Registered number: 07498502)

Contents of the Financial Statements
for the Year Ended 31 January 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Purple Athlete Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: R G Tansley
S P Brady
Mrs J R Brady





REGISTERED OFFICE: Unit 8a
The Zone
Hornbeam Park Avenue
Harrogate
North Yorkshire
HG2 8QT





REGISTERED NUMBER: 07498502 (England and Wales)





ACCOUNTANTS: NP & Associates Limited
2 Besthorpe Close
Oakwood
Derby
Derbyshire
DE21 4RQ

Purple Athlete Limited (Registered number: 07498502)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 61,230 60,707

CURRENT ASSETS
Stocks 825 804
Debtors 5 10,275 10,275
Cash at bank and in hand 26,975 46,695
38,075 57,774
CREDITORS
Amounts falling due within one year 6 39,746 43,379
NET CURRENT (LIABILITIES)/ASSETS (1,671 ) 14,395
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,559

75,102

CREDITORS
Amounts falling due after more than one year 7 7,304 17,840
NET ASSETS 52,255 57,262

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 8 52,249 57,256
SHAREHOLDERS' FUNDS 52,255 57,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2023 and were signed on its behalf by:





R G Tansley - Director


Purple Athlete Limited (Registered number: 07498502)

Notes to the Financial Statements
for the Year Ended 31 January 2023


1. STATUTORY INFORMATION

Purple Athlete Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is represented by the sale of services provided, membership fees and goods sold less VAT at the appropriate rate under the VAT Flat Rate Scheme.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Expenses & overheads
Expenses and overheads are included inclusive of VAT.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Purple Athlete Limited (Registered number: 07498502)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 53,111 - 51,035 3,518 107,664
Additions 10,592 6,620 - 1,970 19,182
At 31 January 2023 63,703 6,620 51,035 5,488 126,846
DEPRECIATION
At 1 February 2022 39,840 - 4,253 2,864 46,957
Charge for year 4,773 1,324 11,696 866 18,659
At 31 January 2023 44,613 1,324 15,949 3,730 65,616
NET BOOK VALUE
At 31 January 2023 19,090 5,296 35,086 1,758 61,230
At 31 January 2022 13,271 - 46,782 654 60,707

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 6,096 6,096
Prepayments and accrued income 4,179 4,179
10,275 10,275

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans - 4,500
Hire purchase contracts 10,535 10,029
Tax 858 -
Social security and other taxes 400 150
VAT 2,375 3,122
Directors' current accounts 18,828 18,828
Accrued expenses 6,750 6,750
39,746 43,379

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 7,304 17,840

Purple Athlete Limited (Registered number: 07498502)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


8. RESERVES
Retained
earnings
£   

At 1 February 2022 57,256
Profit for the year 10,993
Dividends (16,000 )
At 31 January 2023 52,249