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REGISTERED NUMBER: 14230640 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

PURPLE VM LTD

PURPLE VM LTD (REGISTERED NUMBER: 14230640)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PURPLE VM LTD

COMPANY INFORMATION
for the Year Ended 31 July 2024







DIRECTOR: Mr S Chapman





REGISTERED OFFICE: Unit 4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE





REGISTERED NUMBER: 14230640 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

PURPLE VM LTD (REGISTERED NUMBER: 14230640)

BALANCE SHEET
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,342 5,914

CURRENT ASSETS
Debtors 5 46,674 89,038
Cash at bank and in hand 54,428 68,146
101,102 157,184
CREDITORS
Amounts falling due within one year 6 76,773 93,454
NET CURRENT ASSETS 24,329 63,730
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,671

69,644

PROVISIONS FOR LIABILITIES 7 2,854 1,433
NET ASSETS 33,817 68,211

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 33,816 68,210
SHAREHOLDERS' FUNDS 33,817 68,211

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 VM LTD (REGISTERED NUMBER: 14230640)

BALANCE SHEET - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 January 2025 and were signed by:





Mr S Chapman - Director


PURPLE VM LTD (REGISTERED NUMBER: 14230640)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Purple Vm Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes derived from ordinary activities. Turnover 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 service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

PURPLE VM LTD (REGISTERED NUMBER: 14230640)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets,are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 VM LTD (REGISTERED NUMBER: 14230640)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2023 3,238 3,553 6,791
Additions 4,720 4,598 9,318
At 31 July 2024 7,958 8,151 16,109
DEPRECIATION
At 1 August 2023 444 433 877
Charge for year 1,499 1,391 2,890
At 31 July 2024 1,943 1,824 3,767
NET BOOK VALUE
At 31 July 2024 6,015 6,327 12,342
At 31 July 2023 2,794 3,120 5,914

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 46,673 86,788
Other debtors 1 2,250
46,674 89,038

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 5,026 21,864
Taxation 25,767 34,826
Value added tax 24,288 35,747
Other creditors 20,396 -
Directors' current accounts 296 17
Accruals 1,000 1,000
76,773 93,454

7. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax
Accelerated capital allowances 2,854 1,433

PURPLE VM LTD (REGISTERED NUMBER: 14230640)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 August 2023 1,433
Provided during year 1,421
Balance at 31 July 2024 2,854

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
1 Ordinary £1 1 1