Company Registration No. 10498889 (England and Wales)
Purple Green Properties Limited
Unaudited accounts
for the year ended 30 November 2024
Purple Green Properties Limited
Unaudited accounts
Contents
Purple Green Properties Limited
Company Information
for the year ended 30 November 2024
Director
GATLAND, Kevin Lee
Company Number
10498889 (England and Wales)
Registered Office
Longfrey Cottage Dorking Road
Chilworth
Guildford
GU4 8RH
England
Accountants
Surrey Hills Accountancy Limited
The Old Workshop
Longfrey Cottage
Dorking Road
Chilworth
GU4 8RH
Purple Green Properties Limited
Statement of financial position
as at 30 November 2024
Investment property
389,000
389,000
Cash at bank and in hand
14,029
18,544
Creditors: amounts falling due within one year
(75,036)
(82,564)
Net current liabilities
(61,007)
(64,020)
Total assets less current liabilities
328,951
326,258
Creditors: amounts falling due after more than one year
(238,016)
(238,020)
Provisions for liabilities
Deferred tax
(12,249)
(12,249)
Called up share capital
125
125
Profit and loss account
78,561
75,864
Shareholders' funds
78,686
75,989
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 February 2024 and were signed on its behalf by
GATLAND, Kevin Lee
Director
Company Registration No. 10498889
Purple Green Properties Limited
Notes to the Accounts
for the year ended 30 November 2024
Purple Green Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 10498889. The registered office is Longfrey Cottage Dorking Road, Chilworth, Guildford, GU4 8RH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10% SL
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Purple Green Properties Limited
Notes to the Accounts
for the year ended 30 November 2024
4
Tangible fixed assets
Plant & machinery
Fair value at 1 December 2023
389,000
At 30 November 2024
389,000
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
901
2,033
Other creditors
25,000
30,000
Loans from directors
48,235
48,923
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
238,016
238,020
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
25 Ordinary A shares of £1 each
25
25
9
Transactions with related parties
At the balance sheet date, the company owed the director £48,235 (2023 £48,923) and £25,000 (2023: £30,000) to other shareholders. These loans are interest-free and repayable on demand.
Purple Green Properties Limited
Notes to the Accounts
for the year ended 30 November 2024
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).