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REGISTERED NUMBER: 04348026 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

PURPLE LINE LIMITED

PURPLE LINE LIMITED (REGISTERED NUMBER: 04348026)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PURPLE LINE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: J M Harrison





REGISTERED OFFICE: Peninsula Business Centre
Wherstead
Ipswich
Suffolk
IP9 2BB





REGISTERED NUMBER: 04348026 (England and Wales)





ACCOUNTANTS: Walter Wright
Chartered Accountants
89 High Street
Hadleigh
Ipswich
Suffolk
IP7 5EA

PURPLE LINE LIMITED (REGISTERED NUMBER: 04348026)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 170,868 146,154
Tangible assets 5 673,589 683,754
Investments 6 1 -
844,458 829,908

CURRENT ASSETS
Stocks 1,948,776 2,307,856
Debtors 7 1,791,720 3,006,158
Cash at bank and in hand 1,087,436 1,005,540
4,827,932 6,319,554
CREDITORS
Amounts falling due within one year 8 579,785 1,046,860
NET CURRENT ASSETS 4,248,147 5,272,694
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,092,605

6,102,602

CREDITORS
Amounts falling due after more than one
year

9

(472

)

(944

)

PROVISIONS FOR LIABILITIES - (3,283 )
NET ASSETS 5,092,133 6,098,375

CAPITAL AND RESERVES
Called up share capital 10,100 10,100
Retained earnings 5,082,033 6,088,275
SHAREHOLDERS' FUNDS 5,092,133 6,098,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 LINE LIMITED (REGISTERED NUMBER: 04348026)

BALANCE SHEET - continued
31 JANUARY 2024


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 20 August 2024 and were signed by:





J M Harrison - Director


PURPLE LINE LIMITED (REGISTERED NUMBER: 04348026)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Purple Line 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.

Turnover
Turnover represents the sale of goods, is recognised on dispatch, and disclosed net of discounts, returns and value added tax.

Amortisation of intangible fixed assets
Patents are amortised over 20 years on cost.

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 - 33% on cost, 25% on reducing balance and 15% on reducing balance

The directors consider that the freehold property is maintained in such a state of repair that its residual value is at least equal to the net book value. As a result the corresponding depreciation would not be material and therefore is not charged in the profit & loss account. The directors perform an annual impairment review to ensure that the recoverable amount is not lower than the carrying value.

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


PURPLE LINE LIMITED (REGISTERED NUMBER: 04348026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
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 21 (2023 - 21 ) .

PURPLE LINE LIMITED (REGISTERED NUMBER: 04348026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023 207,099
Additions 36,271
At 31 January 2024 243,370
AMORTISATION
At 1 February 2023 60,945
Charge for year 11,557
At 31 January 2024 72,502
NET BOOK VALUE
At 31 January 2024 170,868
At 31 January 2023 146,154

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 576,258 361,267 937,525
Additions - 29,245 29,245
Disposals - (15,827 ) (15,827 )
At 31 January 2024 576,258 374,685 950,943
DEPRECIATION
At 1 February 2023 2,232 251,539 253,771
Charge for year 2,132 35,175 37,307
Eliminated on disposal - (13,724 ) (13,724 )
At 31 January 2024 4,364 272,990 277,354
NET BOOK VALUE
At 31 January 2024 571,894 101,695 673,589
At 31 January 2023 574,026 109,728 683,754

PURPLE LINE LIMITED (REGISTERED NUMBER: 04348026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 1
At 31 January 2024 1
NET BOOK VALUE
At 31 January 2024 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 840,290 1,139,734
Other debtors 951,430 1,866,424
1,791,720 3,006,158

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 231,722 625,467
Taxation and social security 156,235 174,711
Other creditors 191,828 246,682
579,785 1,046,860

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 472 944

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
J M Harrison
Balance outstanding at start of year 1,220,490 -
Amounts advanced - 1,220,490
Amounts repaid (1,137,930 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 82,560 1,220,490

PURPLE LINE LIMITED (REGISTERED NUMBER: 04348026)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


11. RELATED PARTY DISCLOSURES

During the year the sum of £766,321 was advanced to a company in which one of the company's shareholders has an interest and is a director.

The loan was on an interest free basis. At the year end the amount of £766,321 remained outstanding.