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Registration number: SC499081

Purdie Worldwide Removals & Storage Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Purdie Worldwide Removals & Storage Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 12

 

Purdie Worldwide Removals & Storage Limited

Company Information

Directors

Mr N Purdie

Mrs G Purdie

Mr A H Purdie

Registered office

 

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

Accountants

Glen Drummond Ltd
Chartered Accountants
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 Worldwide Removals & Storage Limited
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 Worldwide Removals & Storage Limited for the year ended 30 April 2024 as set out on pages 3 to 12 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 Worldwide Removals & Storage Limited, 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 Worldwide Removals & Storage Limited and state those matters that we have agreed to state to the Board of Directors of Purdie Worldwide Removals & Storage Limited, 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 Worldwide Removals & Storage Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Purdie Worldwide Removals & Storage Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Purdie Worldwide Removals & Storage Limited. You consider that Purdie Worldwide Removals & Storage Limited 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 Worldwide Removals & Storage Limited. 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
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

27 January 2025

 

Purdie Worldwide Removals & Storage Limited

(Registration number: SC499081)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

360,376

392,444

Investments

5

100

100

 

360,476

392,544

Current assets

 

Debtors

6

979,102

772,278

Cash at bank and in hand

 

158,459

302,178

 

1,137,561

1,074,456

Creditors: Amounts falling due within one year

7

(256,939)

(246,641)

Net current assets

 

880,622

827,815

Total assets less current liabilities

 

1,241,098

1,220,359

Creditors: Amounts falling due after more than one year

7

(98,838)

(131,395)

Provisions for liabilities

(87,947)

(95,492)

Net assets

 

1,054,313

993,472

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

1,054,312

993,471

Shareholders' funds

 

1,054,313

993,472

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.

 

Purdie Worldwide Removals & Storage Limited

(Registration number: SC499081)
Balance Sheet as at 30 April 2024

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.

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

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

 

Purdie Worldwide Removals & Storage Limited

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

Going concern

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

Revenue recognition

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

 

Purdie Worldwide Removals & Storage Limited

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

Tax

The tax expense for the period comprises current and 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.

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.

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

Furniture, fittings and equipment

25% on cost

Motor vehicles

25% reducing balance

Other tangible assets

20% on cost

 

Purdie Worldwide Removals & Storage Limited

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

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Purdie Worldwide Removals & Storage Limited

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

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 34 (2023 - 36).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

21,674

983,079

70,345

1,075,098

Additions

4,992

80,220

4,500

89,712

At 30 April 2024

26,666

1,063,299

74,845

1,164,810

Depreciation

At 1 May 2023

21,673

641,043

19,937

682,653

Charge for the year

1,248

105,564

14,969

121,781

At 30 April 2024

22,921

746,607

34,906

804,434

Carrying amount

At 30 April 2024

3,745

316,692

39,939

360,376

At 30 April 2023

-

342,036

50,408

392,444

 

Purdie Worldwide Removals & Storage Limited

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

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 May 2023

100

Provision

Carrying amount

At 30 April 2024

100

At 30 April 2023

100

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

163,142

237,018

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

10

787,000

514,454

Prepayments

 

25,700

19,536

Other debtors

 

3,260

1,270

 

979,102

772,278

 

Purdie Worldwide Removals & Storage Limited

Notes to the 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

 

Loans and borrowings

8

71,043

86,367

Trade creditors

 

41,201

31,079

Taxation and social security

 

69,347

46,620

Accruals and deferred income

 

67,258

76,727

Other creditors

 

8,090

5,848

 

256,939

246,641

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

98,838

131,395

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Finance lease liabilities

98,838

131,395

Current loans and borrowings

2024
£

2023
£

Finance lease liabilities

71,043

86,367

The finance lease/hire purchase liabilities are secured over the assets concerned.

 

Purdie Worldwide Removals & Storage Limited

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

8.1

Obligations under leases contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

18,266

19,466

Later than one year and not later than five years

38,942

41,294

57,208

60,760

The amount of non-cancellable operating lease payments recognised as an expense during the year was £21,833 (2023 - £27,096).

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       
 

Purdie Worldwide Removals & Storage Limited

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

10

Related party transactions

The company operates a loan account with the parent company, Purdie Properties Limited.
During the year, the company paid management charges of £199,000 (2023 - £168,000) to the parent company. The company advanced loans totalling £228,707 to the parent company. At the year end, the balance due from the parent company was £429,114 (2023 - £200,407). This loan is unsecured, interest free and has no fixed repayment terms.

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

 

11

Parent and ultimate parent undertaking

The ultimate controlling party is Mr A H Purdie & Mrs G Purdie.