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REGISTERED NUMBER: 04215727 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

PURPLE LEISURE SERVICES LIMITED

PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PURPLE LEISURE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: K G Pocock
J Godbehere





REGISTERED OFFICE: Unit 7A
Cooper Drive
Springwood Industrial Estate
Braintree
Essex
CM7 2RF





REGISTERED NUMBER: 04215727 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
Waterhouse Business Centre
Unit 53
2 Cromar Way
Chelmsford
Essex
CM1 2QE

PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 337,530 323,515

CURRENT ASSETS
Debtors 5 217,909 202,912
Cash at bank 539,539 338,855
757,448 541,767
CREDITORS
Amounts falling due within one year 6 471,538 252,942
NET CURRENT ASSETS 285,910 288,825
TOTAL ASSETS LESS CURRENT
LIABILITIES

623,440

612,340

CREDITORS
Amounts falling due after more than one year 7 (139,337 ) (231,579 )

PROVISIONS FOR LIABILITIES 11 (73,644 ) (69,134 )
NET ASSETS 410,459 311,627

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 410,359 311,527
SHAREHOLDERS' FUNDS 410,459 311,627

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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





K G Pocock - Director


PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

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


1. STATUTORY INFORMATION

Purple Leisure Services 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.

Going concern
The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts.

The directors, having considered all the information available, are confident that the company has adequate reserves and resources to continue its operational activities for the foreseeable future. Accordingly, the directors are satisfied that the going concern basis continues to be appropriate for the preparation of the annual financial statements.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods and services supplied, net of returns, discounts and value added taxes.

Revenue is recognised in the accounting period in which the services were rendered and goods are delivered to the customer, such that the risks and rewards of ownership have passed to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 4% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 27 (2023 - 31 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 100,583 51,101 26,271 447,051 625,006
Additions - 3,346 - 128,554 131,900
Disposals - (28,458 ) - (81,189 ) (109,647 )
At 31 May 2024 100,583 25,989 26,271 494,416 647,259
DEPRECIATION
At 1 June 2023 53,606 49,767 25,260 172,858 301,491
Charge for year 4,022 2,077 261 88,396 94,756
Eliminated on disposal - (28,458 ) - (58,060 ) (86,518 )
At 31 May 2024 57,628 23,386 25,521 203,194 309,729
NET BOOK VALUE
At 31 May 2024 42,955 2,603 750 291,222 337,530
At 31 May 2023 46,977 1,334 1,011 274,193 323,515

PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 430,191
Additions 111,375
Transfer to ownership (115,347 )
At 31 May 2024 426,219
DEPRECIATION
At 1 June 2023 165,482
Charge for year 81,631
Transfer to ownership (86,660 )
At 31 May 2024 160,453
NET BOOK VALUE
At 31 May 2024 265,766
At 31 May 2023 264,709

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 187,941 174,576
Employee's cash advanced 3,150 2,750
Prepayments and accrued income 23,693 22,461
214,784 199,787

Amounts falling due after more than one year:
Prepayments and accrued income 3,125 3,125

Aggregate amounts 217,909 202,912

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 49,196 49,196
Hire purchase contracts (see note 9) 113,545 93,279
Trade creditors 27,310 22,313
Taxation and social security 125,836 67,136
Other creditors 155,651 21,018
471,538 252,942

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 8) 65,595 114,792
Hire purchase contracts (see note 9) 73,742 116,787
139,337 231,579

PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

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


8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 year 49,196 49,196

Amounts falling due between two and five years:
Bank loans - 2-5 years 65,595 114,792

The bank loan is supported by the UK Government's Coronavirus Business Interruption Scheme (CBILS). Interest is charged at a fixed rate of 2.5% and the balance is repayable over 60 months with the first payment due 12 months after inception.

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 113,545 93,279
Between one and five years 73,742 116,787
187,287 210,066

Non-cancellable operating leases
2024 2023
£    £   
Within one year 45,000 17,500
Between one and five years 153,750 -
198,750 17,500

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 187,287 210,066

The Hire purchase debts are secured on the Motor vehicles as shown in note 6.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 73,644 69,134

PURPLE LEISURE SERVICES LIMITED (REGISTERED NUMBER: 04215727)

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


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2023 69,134
Charge to Income Statement during year 4,510
Balance at 31 May 2024 73,644