Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-04-01falseNo description of principal activity24truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04576476 2023-04-01 2023-12-31 04576476 2022-04-01 2023-03-31 04576476 2023-12-31 04576476 2023-03-31 04576476 c:Director1 2023-04-01 2023-12-31 04576476 d:FurnitureFittings 2023-04-01 2023-12-31 04576476 d:FurnitureFittings 2023-12-31 04576476 d:FurnitureFittings 2023-03-31 04576476 d:OfficeEquipment 2023-04-01 2023-12-31 04576476 d:OfficeEquipment 2023-12-31 04576476 d:OfficeEquipment 2023-03-31 04576476 d:CurrentFinancialInstruments 2023-12-31 04576476 d:CurrentFinancialInstruments 2023-03-31 04576476 d:Non-currentFinancialInstruments 2023-12-31 04576476 d:Non-currentFinancialInstruments 2023-03-31 04576476 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04576476 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04576476 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04576476 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04576476 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 04576476 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 04576476 d:ShareCapital 2023-12-31 04576476 d:ShareCapital 2023-03-31 04576476 d:RetainedEarningsAccumulatedLosses 2023-12-31 04576476 d:RetainedEarningsAccumulatedLosses 2023-03-31 04576476 c:FRS102 2023-04-01 2023-12-31 04576476 c:AuditExemptWithAccountantsReport 2023-04-01 2023-12-31 04576476 c:FullAccounts 2023-04-01 2023-12-31 04576476 c:PrivateLimitedCompanyLtd 2023-04-01 2023-12-31 04576476 2 2023-04-01 2023-12-31 04576476 e:PoundSterling 2023-04-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 04576476


PURPLE SEVEN LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 DECEMBER 2023




 
PURPLE SEVEN LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PURPLE SEVEN LIMITED
FOR THE PERIOD ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PURPLE SEVEN LIMITED for the period ended 31 December 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of PURPLE SEVEN LIMITED, as a body, in accordance with the terms of our engagement letter dated 7 November 2023Our work has been undertaken solely to prepare for your approval the financial statements of PURPLE SEVEN LIMITED and state those matters that we have agreed to state to the Board of directors of PURPLE SEVEN LIMITED, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PURPLE SEVEN LIMITED and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that PURPLE SEVEN LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PURPLE SEVEN LIMITED. You consider that PURPLE SEVEN LIMITED is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of PURPLE SEVEN LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  






CWM Chartered Accountants
 
Chartered Accountants
  
1a High Street
Epsom
Surrey
KT19 8DA
18 September 2024
Page 1

 
PURPLE SEVEN LIMITED
REGISTERED NUMBER: 04576476

BALANCE SHEET
AS AT 31 DECEMBER 2023

31 December
31 March
2023
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
73,017
55,272

Cash at bank and in hand
 6 
13,603
74,452

  
86,620
129,724

Creditors: amounts falling due within one year
 7 
(52,350)
(80,864)

Net current assets
  
 
 
34,270
 
 
48,860

Total assets less current liabilities
  
34,270
48,860

Creditors: amounts falling due after more than one year
 8 
(36,400)
(66,327)

  

Net liabilities
  
(2,130)
(17,467)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(2,230)
(17,567)

  
(2,130)
(17,467)


Page 2

 
PURPLE SEVEN LIMITED
REGISTERED NUMBER: 04576476
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 September 2024.






J S Robinson
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
PURPLE SEVEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
PURPLE SEVEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 5

 
PURPLE SEVEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
1.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
1.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
PURPLE SEVEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


2.


General information

The company is a private limited company incorporated in England and Wales. The registered office is 1a High Street, Epsom, Surrey KT19 8DA.


3.


Employees

2023
2023
£
£

Wages and salaries
-
57,727

Social security costs
-
998

Cost of defined contribution scheme
-
875

-
59,600


The average monthly number of employees, including directors, during the period was 2 (2023 - 4).

Page 7

 
PURPLE SEVEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Tangible fixed assets







Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
670
2,836
3,506



At 31 December 2023

670
2,836
3,506



Depreciation


At 1 April 2023
670
2,836
3,506



At 31 December 2023

670
2,836
3,506



Net book value



At 31 December 2023
-
-
-



At 31 March 2023
-
-
-


5.


Debtors

31 December
31 March
2023
2023
£
£


Trade debtors
1,890
10,126

Amounts owed by group undertakings
69,623
-

Other debtors
1,004
43,842

Prepayments and accrued income
500
1,304

73,017
55,272


Page 8

 
PURPLE SEVEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Cash and cash equivalents

31 December
31 March
2023
2023
£
£

Cash at bank and in hand
13,603
74,452

13,603
74,452



7.


Creditors: Amounts falling due within one year

31 December
31 March
2023
2023
£
£

Bank loans
10,000
10,000

Other loans
29,819
27,901

Trade creditors
4,281
4,393

Corporation tax
3,608
11,388

Other taxation and social security
-
4,115

Accruals and deferred income
4,642
23,067

52,350
80,864



8.


Creditors: Amounts falling due after more than one year

31 December
31 March
2023
2023
£
£

Bank loans
36,400
66,327

36,400
66,327


Page 9

 
PURPLE SEVEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


31 December
31 March
2023
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Other loans
29,819
27,901


39,819
37,901

Amounts falling due 1-2 years

Bank loans
36,400
66,327


36,400
66,327



76,219
104,228



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £Nil (2023 - 875) .


11.


Related party transactions

Included in administrative expenses are charges by TRG Arts Limited, the parent company, amounting to £17,030 (2023 - £101,354).


12.


Controlling party

The immediate parent undertaking is TRG Arts Limited, a company incorporated in England and Wales.
The company is controlled by J S Robinson.

 
Page 10