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Registration number: SC599109

Purdie Property Maintenance Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Purdie Property Maintenance Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Purdie Property Maintenance Ltd

Company Information

Directors

Mr N Purdie

Mr A H Purdie

Registered office

 

48-54 East Main Street
Blackburn
West Lothian
EH47 7QS

Accountants

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Purdie Property Maintenance Ltd
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Purdie Property Maintenance Ltd for the year ended 30 April 2024 as set out on pages 3 to 9 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Purdie Property Maintenance Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Purdie Property Maintenance Ltd and state those matters that we have agreed to state to the Board of Directors of Purdie Property Maintenance Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Purdie Property Maintenance Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Purdie Property Maintenance Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Purdie Property Maintenance Ltd. You consider that Purdie Property Maintenance Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Purdie Property Maintenance Ltd. 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 accounts.

......................................

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

27 January 2025

 

Purdie Property Maintenance Ltd

(Registration number: SC599109)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,104

2,630

Current assets

 

Stocks

5

25,629

16,293

Debtors

6

20,927

55,013

Cash at bank and in hand

 

79,088

88,162

 

125,644

159,468

Creditors: Amounts falling due within one year

7

(364,427)

(327,181)

Net current liabilities

 

(238,783)

(167,713)

Total assets less current liabilities

 

(236,679)

(165,083)

Provisions for liabilities

(526)

(658)

Net liabilities

 

(237,205)

(165,741)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(237,305)

(165,841)

Shareholders' deficit

 

(237,205)

(165,741)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Purdie Property Maintenance Ltd

(Registration number: SC599109)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 27 January 2025 and signed on its behalf by:
 

.........................................
Mr A H Purdie
Director

 

Purdie Property Maintenance Ltd

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

1

General information

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

The address of its registered office is:
48-54 East Main Street
Blackburn
West Lothian
EH47 7QS

These financial statements were authorised for issue by the Board on 27 January 2025.

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

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.

The accounts have been prepared on the going concern basis as the parent company has undertaken to continue supporting the company until profitability can be achieved.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

 

Purdie Property Maintenance Ltd

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

Revenue recognition

Turnover comprises the fair value of the consideration derived from that of joinery installation. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

At the balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

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

20% reducing balance

 

Purdie Property Maintenance Ltd

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2023 - 2).

 

Purdie Property Maintenance Ltd

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

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

8,027

8,027

At 30 April 2024

8,027

8,027

Depreciation

At 1 May 2023

5,397

5,397

Charge for the year

526

526

At 30 April 2024

5,923

5,923

Carrying amount

At 30 April 2024

2,104

2,104

At 30 April 2023

2,630

2,630

5

Stocks

2024
£

2023
£

Work in progress

15,974

8,000

Stock

9,655

8,293

25,629

16,293

6

Debtors

2024
£

2023
£

Trade debtors

20,927

55,013

20,927

55,013

 

Purdie Property Maintenance Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

2,656

6,470

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

9

357,886

314,047

Taxation and social security

 

3,360

6,139

Accruals and deferred income

 

525

525

 

364,427

327,181

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Related party transactions

The company operates a loan account with the parent company, Purdie Worldwide Removals & Storage Limited.
During the year, the parent company advanced loans totalling £43,839 to the company. At the year end, the balance due to the parent company was £357,886 (2023 - £314,047). This loan is unsecured, interest free and has no fixed repayment terms.

 

10

Parent and ultimate parent undertaking

The company is controlled by Purdie Worldwide Removals & Storage Limited. The ultimate controlling party is Mr A H Purdie & Mrs G Purdie.