Acorah Software Products - Accounts Production 15.0.500 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04895009 Mr R Lyon-Smith Mrs M Lyon-Smith Mr R Palmer Mr R Palmer The Purple Holding Company (UK) Ltd Unit 1 Hennock Court Hennock Road East, Marsh Barton Trading Estate, Exeter, England, EX2 8RU true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04895009 2022-12-31 04895009 2023-12-31 04895009 2023-01-01 2023-12-31 04895009 frs-core:CurrentFinancialInstruments 2023-12-31 04895009 frs-core:Non-currentFinancialInstruments 2023-12-31 04895009 frs-core:BetweenOneFiveYears 2023-12-31 04895009 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04895009 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 04895009 frs-core:FurnitureFittings 2023-12-31 04895009 frs-core:FurnitureFittings 2023-01-01 2023-12-31 04895009 frs-core:FurnitureFittings 2022-12-31 04895009 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 04895009 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04895009 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 04895009 frs-core:MotorVehicles 2023-01-01 2023-12-31 04895009 frs-core:OtherResidualIntangibleAssets 2023-12-31 04895009 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 04895009 frs-core:OtherResidualIntangibleAssets 2022-12-31 04895009 frs-core:PlantMachinery 2023-12-31 04895009 frs-core:PlantMachinery 2023-01-01 2023-12-31 04895009 frs-core:PlantMachinery 2022-12-31 04895009 frs-core:WithinOneYear 2023-12-31 04895009 frs-core:ShareCapital 2023-12-31 04895009 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04895009 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04895009 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04895009 frs-bus:SmallEntities 2023-01-01 2023-12-31 04895009 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04895009 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04895009 1 2023-01-01 2023-12-31 04895009 frs-bus:Director1 2023-01-01 2023-12-31 04895009 frs-bus:Director2 2023-01-01 2023-12-31 04895009 frs-bus:Director3 2023-01-01 2023-12-31 04895009 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 04895009 frs-core:CurrentFinancialInstruments 2 2023-12-31 04895009 frs-countries:EnglandWales 2023-01-01 2023-12-31 04895009 2021-12-31 04895009 2022-12-31 04895009 2022-01-01 2022-12-31 04895009 frs-core:CurrentFinancialInstruments 2022-12-31 04895009 frs-core:Non-currentFinancialInstruments 2022-12-31 04895009 frs-core:BetweenOneFiveYears 2022-12-31 04895009 frs-core:WithinOneYear 2022-12-31 04895009 frs-core:ShareCapital 2022-12-31 04895009 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 04895009 frs-core:CurrentFinancialInstruments 2 2022-12-31
The Purple Company (UK) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Ian Roper & Company Ltd
Chartered Accountants
37 Fore Street
Sidmouth
Devon
EX10 8AQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04895009
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1 1,937
Tangible Assets 5 38,528 41,627
38,529 43,564
CURRENT ASSETS
Stocks 6 37,235 34,225
Debtors 7 655,036 519,013
Cash at bank and in hand 143,190 216,524
835,461 769,762
Creditors: Amounts Falling Due Within One Year 8 (565,226 ) (579,755 )
NET CURRENT ASSETS (LIABILITIES) 270,235 190,007
TOTAL ASSETS LESS CURRENT LIABILITIES 308,764 233,571
Creditors: Amounts Falling Due After More Than One Year 9 (14,167 ) (24,167 )
NET ASSETS 294,597 209,404
CAPITAL AND RESERVES
Called up share capital 10 80,250 80,125
Profit and Loss Account 214,347 129,279
SHAREHOLDERS' FUNDS 294,597 209,404
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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 R Lyon-Smith
Director
Mr R Palmer
Director
30th July 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Purple Company (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04895009 . The registered office is 1 Hennock Court, Hennock Road East Marsh Barton , Exeter, Devon, EX2 8RU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are related to the development of the company website and webshops. It is amortised to profit and loss account over its estimated economic life of 3 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Leasehold 10%
Plant & Machinery 10%
Motor Vehicles 25%
Fixtures & Fittings 15%
Computer Equipment 15%
2.5. 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.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. 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 year 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 asset 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2022: 13)
15 13
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 16,770
As at 31 December 2023 16,770
Amortisation
As at 1 January 2023 14,833
Provided during the period 1,936
As at 31 December 2023 16,769
Net Book Value
As at 31 December 2023 1
As at 1 January 2023 1,937
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 56,763 107,558 20,211 184,532
Additions - 600 850 1,450
As at 31 December 2023 56,763 108,158 21,061 185,982
Depreciation
As at 1 January 2023 39,059 87,585 16,261 142,905
Provided during the period 1,771 2,058 720 4,549
As at 31 December 2023 40,830 89,643 16,981 147,454
Net Book Value
As at 31 December 2023 15,933 18,515 4,080 38,528
As at 1 January 2023 17,704 19,973 3,950 41,627
6. Stocks
2023 2022
£ £
Stock 37,235 34,225
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 391,106 366,529
Prepayments and accrued income 33,822 20,613
Other debtors 15,586 3,356
Amount owed by Silk Group 133,422 83,422
Directors' loan accounts - 125
Amounts owed by associates 81,100 44,968
655,036 519,013
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 390,687 431,449
Bank loans and overdrafts 10,844 10,000
Corporation tax 56,811 44,915
VAT 52,615 32,826
Other creditors 41,459 26,092
Accruals and deferred income 12,078 34,473
Directors' loan accounts 732 -
565,226 579,755
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,167 24,167
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 80,250 80,125
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 10,450 10,450
Later than one year and not later than five years 10,450 20,900
20,900 31,350
12. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is The Purple Holding Company (UK) Ltd . The Purple Holding Company (UK) Ltd was incorporated in England with a Registered Office of Unit 1 Hennock Court Hennock Road East, Marsh Barton Trading Estate, Exeter, England, EX2 8RU . The ultimate controlling party is The Purple Holding Company (UK) Ltd who controls 100% of the shares of The Purple Company (UK) Limited .
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