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REGISTERED NUMBER: 04215727 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

PURPLE LEISURE SERVICES LIMITED

PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PURPLE LEISURE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: K G Pocock
J Godbehere





REGISTERED OFFICE: Unit 7A
Cooper Drive
Springwood Industrial Estate
Braintree
Essex
CM7 2RF





REGISTERED NUMBER: 04215727 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
Waterhouse Business Centre
Unit 53
2 Cromar Way
Chelmsford
Essex
CM1 2QE

PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 323,515 238,038

CURRENT ASSETS
Debtors 5 202,912 180,998
Cash at bank 338,855 487,857
541,767 668,855
CREDITORS
Amounts falling due within one year 6 252,942 283,534
NET CURRENT ASSETS 288,825 385,321
TOTAL ASSETS LESS CURRENT LIABILITIES 612,340 623,359

CREDITORS
Amounts falling due after more than one year 7 (231,579 ) (245,295 )

PROVISIONS FOR LIABILITIES 11 (69,134 ) (35,537 )
NET ASSETS 311,627 342,527

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 311,527 342,427
SHAREHOLDERS' FUNDS 311,627 342,527

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:





K G Pocock - Director


PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Purple Leisure Services 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.

Going concern
The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the
approval of these accounts.

Government Grants:
Government grants are accounted for on an accrual basis.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods/services supplied, net of returns, discounts and value added taxes.

Revenue is recognised in the accounting period in which the services were rendered and goods are delivered to the customer, such that the risks and rewards of ownership have passed to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 4% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2022 100,583 51,101 26,271 343,510 521,465
Additions - - - 167,181 167,181
Disposals - - - (63,640 ) (63,640 )
At 31 May 2023 100,583 51,101 26,271 447,051 625,006
DEPRECIATION
At 1 June 2022 49,583 47,189 24,923 161,732 283,427
Charge for year 4,023 2,578 337 54,630 61,568
Eliminated on disposal - - - (43,504 ) (43,504 )
At 31 May 2023 53,606 49,767 25,260 172,858 301,491
NET BOOK VALUE
At 31 May 2023 46,977 1,334 1,011 274,193 323,515
At 31 May 2022 51,000 3,912 1,348 181,778 238,038

PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2022 326,650
Additions 167,181
Disposals (63,640 )
At 31 May 2023 430,191
DEPRECIATION
At 1 June 2022 157,517
Charge for year 51,469
Eliminated on disposal (43,504 )
At 31 May 2023 165,482
NET BOOK VALUE
At 31 May 2023 264,709
At 31 May 2022 169,133

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 174,576 155,003
Employee's cash advanced 2,750 2,850
Prepayments and accrued income 22,461 20,020
199,787 177,873

Amounts falling due after more than one year:
Prepayments and accrued income 3,125 3,125

Aggregate amounts 202,912 180,998

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 49,196 49,196
Hire purchase contracts (see note 9) 93,279 54,938
Trade creditors 22,313 23,244
Taxation and social security 67,136 81,116
Other creditors 21,018 75,040
252,942 283,534

PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 114,792 163,988
Hire purchase contracts (see note 9) 116,787 81,307
231,579 245,295

8. LOANS

CBIL loan:
The bank loan is supported by the UK Government's Coronavirus Business Interruption Scheme (CBILS). Interest will be charged at a fixed rate of 2.5% and the balance is repayable over 60 months with the first payment due 12 months after inception.

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 93,279 54,938
Between one and five years 116,787 81,307
210,066 136,245

Non-cancellable operating leases
2023 2022
£    £   
Within one year 17,500 42,000
Between one and five years - 17,500
17,500 59,500

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 210,066 136,245

The Hire purchase debts are secured on the Motor vehicles as shown in note 6.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 69,134 35,537

PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 35,537
Provided during year 33,597
Balance at 31 May 2023 69,134