PurpleSquare Vehicle Solutions Ltd 14164001 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is car rentals. Digita Accounts Production Advanced 6.30.9574.0 true 14164001 2023-07-01 2024-06-30 14164001 2024-06-30 14164001 core:RetainedEarningsAccumulatedLosses 2024-06-30 14164001 core:ShareCapital 2024-06-30 14164001 core:CurrentFinancialInstruments 2024-06-30 14164001 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 14164001 core:MotorVehicles 2024-06-30 14164001 bus:SmallEntities 2023-07-01 2024-06-30 14164001 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 14164001 bus:FullAccounts 2023-07-01 2024-06-30 14164001 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 14164001 bus:RegisteredOffice 2023-07-01 2024-06-30 14164001 bus:Director1 2023-07-01 2024-06-30 14164001 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14164001 core:MotorVehicles 2023-07-01 2024-06-30 14164001 countries:EnglandWales 2023-07-01 2024-06-30 14164001 2023-06-30 14164001 core:MotorVehicles 2023-06-30 14164001 2022-06-10 2023-06-30 14164001 2023-06-30 14164001 core:RetainedEarningsAccumulatedLosses 2023-06-30 14164001 core:ShareCapital 2023-06-30 14164001 core:CurrentFinancialInstruments 2023-06-30 14164001 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 14164001 core:MotorVehicles 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 14164001

PurpleSquare Vehicle Solutions Ltd

Unaudited Financial Statements

for the Year Ended 30 June 2024

 

PurpleSquare Vehicle Solutions Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

PurpleSquare Vehicle Solutions Ltd

(Registration number: 14164001)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,204,160

3,658,606

Current assets

 

Debtors

5

206,496

226,023

Cash at bank and in hand

 

232,536

49,225

 

439,032

275,248

Creditors: Amounts falling due within one year

6

(2,536,393)

(3,881,065)

Net current liabilities

 

(2,097,361)

(3,605,817)

Net assets

 

106,799

52,789

Capital and reserves

 

Called up share capital

100

100

Retained earnings

106,699

52,689

Shareholders' funds

 

106,799

52,789

For the financial year ending 30 June 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 his 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 2 December 2024
 

.........................................
Mr CJ Latham
Director

 

PurpleSquare Vehicle Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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.

 

PurpleSquare Vehicle Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tax

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

Motor vehicles

10% straight line

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

PurpleSquare Vehicle Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

3,863,346

3,863,346

Additions

323,340

323,340

Disposals

(1,669,152)

(1,669,152)

At 30 June 2024

2,517,534

2,517,534

Depreciation

At 1 July 2023

204,740

204,740

Charge for the year

225,341

225,341

Eliminated on disposal

(116,707)

(116,707)

At 30 June 2024

313,374

313,374

Carrying amount

At 30 June 2024

2,204,160

2,204,160

At 30 June 2023

3,658,606

3,658,606

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

66,261

1,503

Amounts owed by related parties

109,786

-

Prepayments

 

10,528

75

Other debtors

 

19,921

224,445

   

206,496

226,023

 

PurpleSquare Vehicle Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

152,783

119,362

Amounts owed to parent

2,229,233

3,750,576

Taxation and social security

 

134,947

-

Accruals and deferred income

 

1,430

11,127

Other creditors

 

18,000

-

 

2,536,393

3,881,065