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REGISTERED NUMBER: 08555351 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

PURPLE LETTING LIMITED

PURPLE LETTING LIMITED (REGISTERED NUMBER: 08555351)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PURPLE LETTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: Mr S Shemetras





REGISTERED OFFICE: 42 Drake Circus
Plymouth
Devon
PL4 8AB





REGISTERED NUMBER: 08555351 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

PURPLE LETTING LIMITED (REGISTERED NUMBER: 08555351)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,479 14,379
Property, plant and equipment 5 106,281 27,110
117,760 41,489

CURRENT ASSETS
Debtors 6 532,729 530,429
Cash at bank and in hand 130,257 89,702
662,986 620,131
CREDITORS
Amounts falling due within one year 7 560,244 513,372
NET CURRENT ASSETS 102,742 106,759
TOTAL ASSETS LESS CURRENT
LIABILITIES

220,502

148,248

CREDITORS
Amounts falling due after more than one
year

8

70,608

32,871
NET ASSETS 149,894 115,377

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 149,893 115,376
SHAREHOLDERS' FUNDS 149,894 115,377

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PURPLE LETTING LIMITED (REGISTERED NUMBER: 08555351)

BALANCE SHEET - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 March 2025 and were signed by:





Mr S Shemetras - Director


PURPLE LETTING LIMITED (REGISTERED NUMBER: 08555351)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Purple Letting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts derived from the provision of services to landlords and customers during the year, and is recognised at the date the service was provided. This is stated after trade discounts, other sales taxes and net of VAT.

Goodwill
Goodwill,being the amount paid in connection with the acquisition of a business rental portfolio on 16/06/2023 and is being amortised evenly over its estimated useful life of 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Short lease hold is depreciating over the lease term of thirteen years on a straight line basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

PURPLE LETTING LIMITED (REGISTERED NUMBER: 08555351)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 14,500
AMORTISATION
At 1 July 2023 121
Amortisation for year 2,900
At 30 June 2024 3,021
NET BOOK VALUE
At 30 June 2024 11,479
At 30 June 2023 14,379

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 11,912 11,916 36,874 16,822 77,524
Additions - 1,891 104,450 2,603 108,944
At 30 June 2024 11,912 13,807 141,324 19,425 186,468
DEPRECIATION
At 1 July 2023 7,324 6,315 29,798 6,977 50,414
Charge for year 916 1,017 26,143 1,697 29,773
At 30 June 2024 8,240 7,332 55,941 8,674 80,187
NET BOOK VALUE
At 30 June 2024 3,672 6,475 85,383 10,751 106,281
At 30 June 2023 4,588 5,601 7,076 9,845 27,110

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 64,521 97,315
Other debtors 2,020 -
Deposit held 382,418 351,639
Amounts due from related party 72,861 72,861
Prepayments and accrued income 10,909 8,614
532,729 530,429

PURPLE LETTING LIMITED (REGISTERED NUMBER: 08555351)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts (see note 9) 5,556 5,556
Hire purchase contracts 11,422 -
Trade creditors 42,923 82,480
Tax 23,604 18,327
VAT 20,150 11,513
Other creditors 3,506 3,632
Deposits due to tenants 386,319 283,108
Amounts due to landlords 63,144 89,482
Directors' current accounts 120 15,774
Accrued expenses 3,500 3,500
560,244 513,372

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans (see note 9) 27,316 32,871
Hire purchase contracts 43,292 -
70,608 32,871

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,093 10,648

9. LOANS

An analysis of the maturity of loans is given below:

30.6.24 30.6.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 5,556 5,556

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,556 5,556

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,667 16,667

Amounts falling due in more than five years:

PURPLE LETTING LIMITED (REGISTERED NUMBER: 08555351)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. LOANS - continued
30.6.24 30.6.23
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 5,093 10,648

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1 Ordinary 1 1 1