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Registered number: 05949065
Purple Media Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Reynolds
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05949065
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 354,633 364,979
354,633 364,979
CURRENT ASSETS
Stocks 5 22,658 32,340
Debtors 6 203,263 234,412
Cash at bank and in hand 343,596 382,724
569,517 649,476
Creditors: Amounts Falling Due Within One Year 7 (182,377 ) (163,256 )
NET CURRENT ASSETS (LIABILITIES) 387,140 486,220
TOTAL ASSETS LESS CURRENT LIABILITIES 741,773 851,199
Creditors: Amounts Falling Due After More Than One Year 8 (15,691 ) (50,485 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (16,042 ) (15,011 )
NET ASSETS 710,040 785,703
CAPITAL AND RESERVES
Called up share capital 10 88,502 88,502
Profit and Loss Account 621,538 697,201
SHAREHOLDERS' FUNDS 710,040 785,703
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Edward Hunt
Director
23/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Purple Media Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05949065 . The registered office is The Old School House, St. Stephens Street, Tonbridge, Kent, TN9 2AD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 50 years straight line
Plant & Machinery 25% straight line
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2022: 14)
16 14
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 468,253 78,034 7,018 46,778 600,083
As at 31 December 2023 468,253 78,034 7,018 46,778 600,083
Depreciation
As at 1 January 2023 104,577 78,034 6,589 45,904 235,104
Provided during the period 9,365 - 107 874 10,346
As at 31 December 2023 113,942 78,034 6,696 46,778 245,450
Net Book Value
As at 31 December 2023 354,311 - 322 - 354,633
As at 1 January 2023 363,676 - 429 874 364,979
5. Stocks
2023 2022
£ £
Materials 22,658 32,340
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 188,714 220,771
Prepayments and accrued income 14,549 13,641
203,263 234,412
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 62,943 70,489
Bank loans and overdrafts 32,000 30,136
Corporation tax 18,190 18,640
Other taxes and social security 12,246 11,214
VAT 40,692 22,260
Other creditors 4,783 3,243
Pension control 3,234 3,157
Accruals and deferred income 4,210 3,001
Directors' loan accounts 4,079 1,116
182,377 163,256
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Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 15,691 50,485
9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
The bank loan is secured by a fixed charge over the freehold of the property. 
2023 2022
£ £
Bank loans and overdrafts 47,691 80,621
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 88,502 88,502
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