Purple Square Consulting Ltd 07586167 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is information technology consultancy. Digita Accounts Production Advanced 6.30.9574.0 true 07586167 2023-01-01 2023-12-31 07586167 2023-12-31 07586167 bus:Director2 2023-12-31 07586167 bus:Director3 2023-12-31 07586167 bus:Director4 2023-12-31 07586167 core:RetainedEarningsAccumulatedLosses 2023-12-31 07586167 core:ShareCapital 2023-12-31 07586167 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07586167 core:FurnitureFittingsToolsEquipment 2023-12-31 07586167 bus:SmallEntities 2023-01-01 2023-12-31 07586167 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07586167 bus:AbridgedAccounts 2023-01-01 2023-12-31 07586167 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07586167 bus:RegisteredOffice 2023-01-01 2023-12-31 07586167 bus:Director1 2023-01-01 2023-12-31 07586167 bus:Director2 2023-01-01 2023-12-31 07586167 bus:Director3 2023-01-01 2023-12-31 07586167 bus:Director4 2023-01-01 2023-12-31 07586167 bus:Director5 2023-01-01 2023-12-31 07586167 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07586167 core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-01-01 2023-12-31 07586167 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 07586167 core:OfficeEquipment 2023-01-01 2023-12-31 07586167 countries:England 2023-01-01 2023-12-31 07586167 2022-12-31 07586167 core:FurnitureFittingsToolsEquipment 2022-12-31 07586167 2022-01-01 2022-12-31 07586167 2022-12-31 07586167 core:RetainedEarningsAccumulatedLosses 2022-12-31 07586167 core:ShareCapital 2022-12-31 07586167 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 07586167 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 07586167

Purple Square Consulting Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2023

 

Purple Square Consulting Ltd

Contents

Company Information

1

Directors' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 9

 

Purple Square Consulting Ltd

Company Information

Directors

A D Addison

M Bhatti

B Wyatt

M Addison

T R Biddiscombe

Registered office

The Beehive
Beehive Ring Road
Gatwick Airport
Gatwick
West Sussex
RH6 0PA

 

Purple Square Consulting Ltd

Directors' Report for the Year Ended 31 December 2023

The directors present their report and the abridged financial statements for the year ended 31 December 2023.

Directors of the company

The directors who held office during the year were as follows:

A D Addison

M Bhatti (appointed 27 March 2023)

B Wyatt (appointed 27 March 2023)

M Addison (appointed 27 March 2023)

T R Biddiscombe

Principal activity

The principal activity of the company is information technology consultancy.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 23 February 2024 and signed on its behalf by:
 

.........................................
A D Addison
Director

.........................................
T R Biddiscombe
Director

 

Purple Square Consulting Ltd

(Registration number: 07586167)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

799

-

Tangible assets

6

8,576

5,960

 

9,375

5,960

Current assets

 

Debtors

479,912

561,607

Cash at bank and in hand

 

320,996

401,244

 

800,908

962,851

Prepayments and accrued income

 

731,963

573,918

Creditors: Amounts falling due within one year

(438,183)

(411,861)

Net current assets

 

1,094,688

1,124,908

Total assets less current liabilities

 

1,104,063

1,130,868

Accruals and deferred income

 

(648,499)

(866,808)

Net assets

 

455,564

264,060

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

454,564

263,060

Total equity

 

455,564

264,060

For the financial year ending 31 December 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet and have elected to take the option not to file the Profit and Loss Account in accordance with Section 444 of the Companies Act 2006

 

Purple Square Consulting Ltd

(Registration number: 07586167)
Abridged Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 23 February 2024 and signed on its behalf by:
 

.........................................

A D Addison

Director

.........................................

T R Biddiscombe

Director

 

Purple Square Consulting Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Beehive
Beehive Ring Road
Gatwick Airport
Gatwick
West Sussex
RH6 0PA
England

These financial statements were authorised for issue by the Board on 23 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Purple Square Consulting Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademarks

10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Purple Square Consulting Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Purple Square Consulting Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 35 (2022 - 39).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

2,921

4,701

Amortisation expense

80

-

 

Purple Square Consulting Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

5

Intangible assets

Total
£

Cost or valuation

Additions acquired separately

880

At 31 December 2023

880

Amortisation

Amortisation charge

81

At 31 December 2023

81

Carrying amount

At 31 December 2023

799

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

83,485

83,485

Additions

5,772

5,772

Disposals

(63,439)

(63,439)

At 31 December 2023

25,818

25,818

Depreciation

At 1 January 2023

77,525

77,525

Charge for the year

2,922

2,922

Eliminated on disposal

(63,205)

(63,205)

At 31 December 2023

17,242

17,242

Carrying amount

At 31 December 2023

8,576

8,576

At 31 December 2022

5,960

5,960