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Registration number: 06611585

Purple Fig Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Purple Fig Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Purple Fig Limited

Company Information

Director

K Stephenson

Registered office

9 Spicers Court
St Pauls Hill
Winchester
Hampshire
SO22 5ER

 

Purple Fig Limited

(Registration number: 06611585)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

26,346

14,703

Cash at bank and in hand

 

291

4,570

 

26,637

19,273

Creditors: Amounts falling due within one year

6

(17,795)

(11,189)

Total assets less current liabilities

 

8,842

8,084

Creditors: Amounts falling due after more than one year

6

(8,830)

(7,901)

Net assets

 

12

183

Capital and reserves

 

Called up share capital

1

1

Retained earnings

11

182

Shareholders' funds

 

12

183

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 February 2025
 

.........................................
K Stephenson
Director

 

Purple Fig Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
9 Spicers Court
St Pauls Hill
Winchester
Hampshire
SO22 5ER

These financial statements were authorised for issue by the director on 27 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 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 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.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Purple Fig Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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

Furniture and fittings

33.3% straight line

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 services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. 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.

Trade creditors

Trade creditors are obligations to pay for 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.

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.

 

Purple Fig Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Purple Fig Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

1,557

1,557

At 30 June 2023

1,557

1,557

Depreciation

At 1 July 2022

1,557

1,557

At 30 June 2023

1,557

1,557

Carrying amount

At 30 June 2023

-

-

5

Debtors

Current

2023
£

2022
£

Trade debtors

19,445

5,000

Other debtors

6,901

9,703

 

26,346

14,703

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

1,190

1,985

Taxation and social security

 

12,557

8,484

Accruals and deferred income

 

720

720

Other creditors

 

3,328

-

 

17,795

11,189

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

8,830

7,901

 

Purple Fig Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

8,830

7,901

Current loans and borrowings

2023
£

2022
£

Bank borrowings

-

1,985

Bank overdrafts

1,190

-

1,190

1,985

Bank borrowings

Bounce back loan is denominated in with a nominal interest rate of 2.5%, and the final instalment is due on 19 March 2027. The carrying amount at year end is £8,830 (2022 - £9,886).

The bank loan is unsecured.

 

Purple Fig Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

8

Related party transactions

Transactions with the director

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

K Stephenson

Advances and repayments to and from director

3,986

10,500

(17,814)

(3,328)

2022

At 1 July 2021
£

Advances to director
£

Repayments by director
£

At 30 June 2022
£

K Stephenson

Advances and repayments to and from director

(2,584)

8,880

(2,310)

3,986