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Registration number: 07586167

Purple Square Consulting Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2024

 

Purple Square Consulting Ltd

Contents

Company Information

1

Directors' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 9

 

Purple Square Consulting Ltd

Company Information

Directors

A D Addison

M Bhatti

B Wyatt

M Addison

T R Biddiscombe

Registered office

The Beehive
Beehive Ring Road
Gatwick Airport
Gatwick
West Sussex
RH6 0PA

 

Purple Square Consulting Ltd

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the abridged financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

A D Addison

M Bhatti

B Wyatt

M Addison

T R Biddiscombe

Principal activity

The principal activity of the company is information technology consultancy.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 24 February 2025 and signed on its behalf by:
 

.........................................
A D Addison
Director

.........................................
T R Biddiscombe
Director

 

Purple Square Consulting Ltd

(Registration number: 07586167)
Abridged Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

711

799

Tangible assets

6

12,596

8,576

 

13,307

9,375

Current assets

 

Debtors

659,190

479,912

Cash at bank and in hand

 

264,846

320,996

 

924,036

800,908

Prepayments and accrued income

 

178,100

731,963

Creditors: Amounts falling due within one year

(257,451)

(438,183)

Net current assets

 

844,685

1,094,688

Total assets less current liabilities

 

857,992

1,104,063

Accruals and deferred income

 

(403,427)

(648,499)

Net assets

 

454,565

455,564

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

453,565

454,564

Shareholders' funds

 

454,565

455,564

For the financial year ending 31 December 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet and have elected to take the option not to file the Profit and Loss Account in accordance with Section 444 of the Companies Act 2006

 

Purple Square Consulting Ltd

(Registration number: 07586167)
Abridged Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 24 February 2025 and signed on its behalf by:
 

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

A D Addison

Director

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

T R Biddiscombe

Director

 

Purple Square Consulting Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
The Beehive
Beehive Ring Road
Gatwick Airport
Gatwick
West Sussex
RH6 0PA
England

These financial statements were authorised for issue by the Board on 24 February 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 abridged 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 abridged 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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Purple Square Consulting Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

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

Office equipment

25% straight line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademarks

10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Purple Square Consulting Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2023 - 35).

4

Loss/profit before tax

Arrived at after charging/(crediting)

 

Purple Square Consulting Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

2024
£

2023
£

Depreciation expense

4,441

2,921

Amortisation expense

88

80

 

Purple Square Consulting Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

5

Intangible assets

Total
£

Cost or valuation

At 1 January 2024

880

At 31 December 2024

880

Amortisation

At 1 January 2024

81

Amortisation charge

88

At 31 December 2024

169

Carrying amount

At 31 December 2024

711

At 31 December 2023

799

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

25,819

25,819

Additions

8,474

8,474

Disposals

(2,559)

(2,559)

At 31 December 2024

31,734

31,734

Depreciation

At 1 January 2024

17,242

17,242

Charge for the year

4,440

4,440

Eliminated on disposal

(2,544)

(2,544)

At 31 December 2024

19,138

19,138

Carrying amount

At 31 December 2024

12,596

12,596

At 31 December 2023

8,576

8,576