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Registration number: 08073728

Purplex Marketing Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Purplex Marketing Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Purplex Marketing Limited

(Registration number: 08073728)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

7,920

10,080

Tangible assets

5

137,084

120,388

 

145,004

130,468

Current assets

 

Debtors

6

437,867

504,405

Cash at bank and in hand

 

517,356

412,840

 

955,223

917,245

Creditors: Amounts falling due within one year

7

(467,493)

(564,267)

Net current assets

 

487,730

352,978

Total assets less current liabilities

 

632,734

483,446

Creditors: Amounts falling due after more than one year

7

(17,647)

(23,741)

Provisions for liabilities

(25,753)

(22,379)

Net assets

 

589,334

437,326

Capital and reserves

 

Called up share capital

100

100

Retained earnings

589,234

437,226

Shareholders' funds

 

589,334

437,326

 

Purplex Marketing Limited

(Registration number: 08073728)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 November 2024
 


A J Scott
Director

 

Purplex Marketing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 502 Park Way
Worle
Weston-super-Mare
BS22 6WA
England

These financial statements were authorised for issue by the director on 18 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Purplex Marketing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Straight line

Motor vehicles

25% Reducing balance

Fixtures and fittings

25% Straight line

Plant and machinery

25% Reducing balance

Long leasehold land and buildings

25% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Purplex Marketing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Purplex Marketing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 63 (2023 - 60).

 

Purplex Marketing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

12,240

12,240

At 31 March 2024

12,240

12,240

Amortisation

At 1 April 2023

2,160

2,160

Amortisation charge

2,160

2,160

At 31 March 2024

4,320

4,320

Carrying amount

At 31 March 2024

7,920

7,920

At 31 March 2023

10,080

10,080

5

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 April 2023

4,829

99,494

5,697

144,411

Additions

-

5,692

-

40,994

At 31 March 2024

4,829

105,186

5,697

185,405

Depreciation

At 1 April 2023

2,414

50,340

3,202

101,146

Charge for the year

1,208

25,199

624

25,629

At 31 March 2024

3,622

75,539

3,826

126,775

Carrying amount

At 31 March 2024

1,207

29,647

1,871

58,630

At 31 March 2023

2,415

49,154

2,495

43,265

 

Purplex Marketing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

40,995

295,426

Additions

29,671

76,357

At 31 March 2024

70,666

371,783

Depreciation

At 1 April 2023

17,935

175,037

Charge for the year

7,002

59,662

At 31 March 2024

24,937

234,699

Carrying amount

At 31 March 2024

45,729

137,084

At 31 March 2023

23,059

120,388

Included within the net book value of land and buildings above is £1,208 (2023 - £2,415) in respect of long leasehold land and buildings.
 

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

393,141

468,271

Amounts owed by related parties

26,637

-

Prepayments

 

18,089

36,134

   

437,867

504,405

 

Purplex Marketing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

6,093

6,093

Trade creditors

 

160,083

208,344

Amounts owed to group undertakings and undertakings in which the company has a participating interest

100

-

Taxation and social security

 

243,418

241,117

Accruals and deferred income

 

50,610

95,521

Other creditors

 

7,189

13,192

 

467,493

564,267

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

17,647

23,741

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Finance lease liabilities

17,647

23,741

2024
£

2023
£

Current loans and borrowings

Finance lease liabilities

6,093

6,093