Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-312023-08-01falsefalseNo description of principal activity44truetrue 08104548 2023-08-01 2024-07-31 08104548 2024-07-31 08104548 2022-08-01 2023-07-31 08104548 2023-07-31 08104548 c:Director2 2023-08-01 2024-07-31 08104548 d:ComputerEquipment 2023-08-01 2024-07-31 08104548 d:ComputerEquipment 2024-07-31 08104548 d:ComputerEquipment 2023-07-31 08104548 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 08104548 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-07-31 08104548 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-31 08104548 d:ComputerSoftware 2024-07-31 08104548 d:ComputerSoftware 2023-07-31 08104548 d:CurrentFinancialInstruments 2024-07-31 08104548 d:CurrentFinancialInstruments 2023-07-31 08104548 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 08104548 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08104548 d:ShareCapital 2024-07-31 08104548 d:ShareCapital 2023-07-31 08104548 d:SharePremium 2024-07-31 08104548 d:SharePremium 2023-07-31 08104548 d:RetainedEarningsAccumulatedLosses 2024-07-31 08104548 d:RetainedEarningsAccumulatedLosses 2023-07-31 08104548 c:FRS102 2023-08-01 2024-07-31 08104548 c:Audited 2023-08-01 2024-07-31 08104548 c:FullAccounts 2023-08-01 2024-07-31 08104548 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08104548 c:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 08104548 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-08-01 2024-07-31 08104548 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-08-01 2024-07-31 08104548 4 2023-08-01 2024-07-31 08104548 6 2023-08-01 2024-07-31 08104548 d:ExternallyAcquiredIntangibleAssets 2023-08-01 2024-07-31 08104548 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-08-01 2024-07-31 08104548 d:ComputerSoftware d:OwnedIntangibleAssets 2023-08-01 2024-07-31 08104548 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure
Registered number: 08104548


PURPLE DRAGON (HOLDINGS) LIMITED








AUDITED

PAGES FOR FILING WITH REGISTRAR

FOR THE PERIOD ENDED 31 JULY 2024

 
PURPLE DRAGON (HOLDINGS) LIMITED
REGISTERED NUMBER: 08104548

BALANCE SHEET
AS AT 31 JULY 2024

2024
Restated 2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
184,448
144,488

Tangible assets
 5 
1,552
3,055

Investments
 6 
1,000
1,000

  
187,000
148,543

Current assets
  

Debtors: amounts falling due within one year
 7 
5,165
5,817

Cash at bank and in hand
 8 
66,185
66,562

  
71,350
72,379

Creditors: amounts falling due within one year
 9 
(706,689)
(443,471)

Net current liabilities
  
 
 
(635,339)
 
 
(371,092)

Total assets less current liabilities
  
(448,339)
(222,549)

  

Net liabilities
  
(448,339)
(222,549)


Capital and reserves
  

Called up share capital 
  
602,957
602,957

Share premium account
  
2,538,871
2,538,871

Profit and loss account
  
(3,590,167)
(3,364,377)

  
(448,339)
(222,549)


Page 1

 
PURPLE DRAGON (HOLDINGS) LIMITED
REGISTERED NUMBER: 08104548
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
P Field
Director
Date: 20 March 2025

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
PURPLE DRAGON (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

1.


General information

Purple Dragon (Holdings) Limited is a private company, limited by shares, registered in England and Wales with registration number 08104548.  The registered office is 1 Vincent Square, London, SW1P 2PN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continuing support of the company's financiers and the ability to have sufficient working capital in the foreseeable future.
The Board of Directors has a reasonable expectation that the company has adequate resources to
continue  its  operations  for  the  foreseeable  future.  Due  to  the  continued  support  of  the  founding shareholder and external investors, alongside a renewed focus on the profitable areas of the brand's commercial activities the Board remain optimistic. The directors have carried out a review of the cash needs of the business for a period in excess of the next 12 months and are satisfied that there will be sufficient resources to meet any reasonably  foreseen requirements.  Should additional  financial  input be required, the directors are not aware of any reason why the company's financiers would not be supportive.
Accordingly,  it  is  appropriate  to  apply  the  going  concern  basis  in  preparing  these  financial
statements.

Page 3

 
PURPLE DRAGON (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Pensions

The company pays both employer and employee contributions into the pension plans of its employee.  The amounts paid are expensed to the Profit and Loss account on an accruals basis, any amounts upnpaid at the date of the Balance Sheet are included within Other Creditors.

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
PURPLE DRAGON (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
PURPLE DRAGON (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash
Page 6

 
PURPLE DRAGON (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)

equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including the directors, during the period was as follows:


        2024
        2023
            No.
            No.







Employees
4
4

Page 7

 
PURPLE DRAGON (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

4.


Intangible assets




Development expenditure
Computer software
Total

£
£
£



Cost


At 1 August 2023
80,125
353,268
433,393


Additions
-
95,878
95,878



At 31 July 2024

80,125
449,146
529,271



Amortisation


At 1 August 2023
42,313
246,593
288,906


Charge for the period on owned assets
15,508
40,409
55,917



At 31 July 2024

57,821
287,002
344,823



Net book value



At 31 July 2024
22,304
162,144
184,448



At 31 July 2023
37,813
106,675
144,488



Page 8

 
PURPLE DRAGON (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 August 2023
51,127


Additions
1,780



At 31 July 2024

52,907



Depreciation


At 1 August 2023
48,072


Charge for the period on owned assets
3,283



At 31 July 2024

51,355



Net book value



At 31 July 2024
1,552



At 31 July 2023
3,055

Page 9

 
PURPLE DRAGON (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 August 2023
1,102


Disposals
(102)



At 31 July 2024

1,000





At 1 August 2023
102


Impairment on disposals
(102)



At 31 July 2024

-



Net book value



At 31 July 2024
1,000



At 31 July 2023
1,000

Page 10

 
PURPLE DRAGON (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

7.


Debtors

2024
2023
£
£


Other debtors
4,353
5,817

Prepayments and accrued income
812
-

5,165
5,817



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
66,185
66,562

66,185
66,562



9.


Creditors: Amounts falling due within one year

2024
Restated 2023
£
£

Trade creditors
5,861
12,194

Amounts owed to group undertakings
674,840
363,340

Other taxation and social security
7,931
-

Other creditors
847
497

Accruals and deferred income
17,210
67,440

706,689
443,471



10.


Prior year adjustment

The accounts have been restated to incorporate the correction of prior period errors relating to the provision of accruals, intangible fixed assets and administrative expenses.
The adjustments have resulted in a increase in brought forward reserves at 1 August 2022 and the profit & loss account for the period to 31 July 2023. The adjustments have led to an accumulated increase in reserves of £130,289 at the beginning of this financial period. 

Page 11

 
PURPLE DRAGON (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

11.


Pension commitments

The Company participates in a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £3,478 (2023 - £3,248). Contributions totalling £848 (2023 - £498) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

The Company has opted not to disclose transactions between group companies, as permitted by section
33 of FRS 102.


13.


Auditors' information

The auditors' report on the financial statements for the period ended 31 July 2024 was unqualified.

The audit report was signed on 20 March 2025 by Mr Matthew Wyatt (Senior statutory auditor) on behalf of Wellers.

 
Page 12