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REGISTERED NUMBER: SC643042 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

PURPLE PAPILIO LTD

PURPLE PAPILIO LTD (REGISTERED NUMBER: SC643042)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PURPLE PAPILIO LTD

COMPANY INFORMATION
for the year ended 30 September 2023







DIRECTOR: L M French



REGISTERED OFFICE: 24a Ainslie Place
Edinburgh
EH3 6AJ



REGISTERED NUMBER: SC643042 (Scotland)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



BANKERS: Starling Bank
7TH Floor
Norfolk House
31 St James'S Square
London
SW1Y 4JR

PURPLE PAPILIO LTD (REGISTERED NUMBER: SC643042)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,471 1,838
Investment property 5 246,000 240,790
247,471 242,628

CURRENT ASSETS
Debtors 6 210 1,476
Cash at bank 2,897 4,553
3,107 6,029
CREDITORS
Amounts falling due within one year 7 91,644 90,998
NET CURRENT LIABILITIES (88,537 ) (84,969 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,934

157,659

CREDITORS
Amounts falling due after more than one year 8 (150,857 ) (156,929 )

PROVISIONS FOR LIABILITIES (1,193 ) -
NET ASSETS 6,884 730

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 10 3,830 -
Retained earnings 3,053 729
6,884 730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

PURPLE PAPILIO LTD (REGISTERED NUMBER: SC643042)

BALANCE SHEET - continued
30 September 2023


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 director and authorised for issue on 19 January 2024 and were signed by:





L M French - Director


PURPLE PAPILIO LTD (REGISTERED NUMBER: SC643042)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2023


1. STATUTORY INFORMATION

Purple Papilio ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the total of rent receivable by the company for the rental of own property for the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Investment property
The company carries investment property at fair value with changes in fair value being recognised in the Income Statement. Any such changes together with the related deferred tax are transferred to a Revaluation Reserve.

Financial instruments
Bank and other loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

PURPLE PAPILIO LTD (REGISTERED NUMBER: SC643042)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022
and 30 September 2023 3,128
DEPRECIATION
At 1 October 2022 1,290
Charge for year 367
At 30 September 2023 1,657
NET BOOK VALUE
At 30 September 2023 1,471
At 30 September 2022 1,838

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 240,790
Revaluations 5,210
At 30 September 2023 246,000
NET BOOK VALUE
At 30 September 2023 246,000
At 30 September 2022 240,790

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2023 5,210
Cost 240,790
246,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 210 1,476

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,950 6,522
Taxation and social security 16 -
Other creditors 84,678 84,476
91,644 90,998

PURPLE PAPILIO LTD (REGISTERED NUMBER: SC643042)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 150,857 156,929

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 150,857 156,929

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 157,807 163,451

The company has granted standard securities, in respect of each of the properties included within Investment property, in favour of the lender.

10. RESERVES
Revaluation
reserve
£   
Revaluation 3,830

At 30 September 2023 3,830