Purple Hat Consulting LLP Filleted Accounts Cover
Purple Hat Consulting LLP
Registered No. OC378970
Information for Filing with the Registrar
31 October 2022
Purple Hat Consulting LLP Balance Sheet Registrar
at
31 October 2022
Registered No.
OC378970
Notes
2022
2021
£
£
Fixed assets
Tangible assets
4
2,588
3,251
2,588
3,251
Current assets
Debtors
5
2,013
410
Cash at bank and in hand
797
1,253
2,810
1,663
Creditors: Amounts falling due within one year
6
(3,735)
(1,739)
Net current liabilities
(925)
(76)
Total assets less current liabilities
1,663
3,175
Creditors: Amounts falling due after more than one year
7
(14,174)
(18,433)
Net liabilities attributable to members
(12,511)
(15,258)
Represented by:
Loans and other debts due to members
(55,370)
(30,549)
Members' other interests
Other reserves
42,859
15,291
42,859
15,291
(12,511)
(15,258)
These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
For the year ended 31 October 2022 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the members on 24 October 2023
And signed on its behalf by designated member:
R.B. Phillips
Designated member
24 October 2023
Purple Hat Consulting LLP Notes to the Accounts Registrar
for the year ended 31 October 2022
1
General information
Its registered number is: OC378970
Its registered office is:
Lawford House
Albert Place
London
N3 1QA
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Members' remuneration and division of profits
Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.

Profits are treated as being available for discretionary division only if the the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and machinery
25% Reducing Balance
Furniture, fittings and equipment
25% Reducing Balance
Research and development costs
Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% straight line.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Investments
Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Members' Interests
Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
3
Employees
2022
2021
Number
Number
The average number of persons employed during the year was:
0
0
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
Cost
At 1 November 2021
9,4602,13211,592
Additions
200-200
At 31 October 2022
9,6602,13211,792
Depreciation
At 1 November 2021
7,1411,2008,341
Charge for the year
630233863
At 31 October 2022
7,7711,4339,204
Net book values
At 31 October 2022
1,8896992,588
At 31 October 2021
2,319
932
3,251
5
Debtors
2022
2021
£
£
Trade debtors
2,013410
2,013410
6
Creditors:
amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
--
Trade creditors
2,415420
Accruals and deferred income
1,3201,319
3,7351,739
7
Creditors:
amounts falling due after more than one year
2022
2021
£
£
Other loans
14,17418,433
14,17418,433
8
Loans and other debts due to members
2022
2021
£
£
Amounts due to members in respect of profits
(55,370)
(30,549)
(55,370)
(30,549)
Amounts falling due within one year
(55,370)
-
(55,370)
(30,549)
Purple Hat Consulting LLPOC37897031 October 202201 November 2021false24 October 2023BTCSoftware AP Solution 2023 10.3.0210.3.02OC3789702021-11-012022-10-31OC3789702022-10-31OC378970bus:RegisteredOffice2021-11-012022-10-31OC378970core:PlantMachinery2021-11-012022-10-31OC378970core:FurnitureFittingsToolsEquipment2021-11-012022-10-31OC3789702020-11-012021-10-31OC378970core:PlantMachinery2021-11-01OC378970core:FurnitureFittingsToolsEquipment2021-11-01OC3789702021-11-01OC378970core:PlantMachinery2022-10-31OC378970core:FurnitureFittingsToolsEquipment2022-10-31OC378970core:PlantMachinery2021-10-31OC378970core:FurnitureFittingsToolsEquipment2021-10-31OC3789702021-10-31OC378970core:WithinOneYear2022-10-31OC378970core:WithinOneYear2021-10-31OC378970core:AfterOneYear2022-10-31OC378970core:AfterOneYear2021-10-31OC378970bus:SmallEntities2021-11-012022-10-31OC378970bus:FullAccounts2021-11-012022-10-31OC378970bus:AuditExempt-NoAccountantsReport2021-11-012022-10-31OC378970bus:PartnerLLP22021-11-012022-10-31OC378970bus:LimitedLiabilityPartnershipLLP2021-11-012022-10-31xbrli:pureiso4217:GBP