0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-04 Sage Accounts Production Advanced 2024 - FRS102_2024 557,390 557,390 557,390 xbrli:pure xbrli:shares iso4217:GBP SC774622 2023-07-04 2024-07-31 SC774622 2024-07-31 SC774622 2023-07-03 SC774622 bus:LeadAgentIfApplicable 2023-07-04 2024-07-31 SC774622 bus:Director2 2023-07-04 2024-07-31 SC774622 core:WithinOneYear 2024-07-31 SC774622 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-04 2024-07-31 SC774622 core:ShareCapital 2024-07-31 SC774622 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC774622 core:LandBuildings core:OwnedOrFreeholdAssets 2024-07-31 SC774622 bus:Director1 2023-07-04 2024-07-31 SC774622 bus:SmallEntities 2023-07-04 2024-07-31 SC774622 bus:AuditExemptWithAccountantsReport 2023-07-04 2024-07-31 SC774622 bus:SmallCompaniesRegimeForAccounts 2023-07-04 2024-07-31 SC774622 bus:PrivateLimitedCompanyLtd 2023-07-04 2024-07-31 SC774622 bus:FullAccounts 2023-07-04 2024-07-31 SC774622 core:AllAssociates 2023-07-04 2024-07-31
COMPANY REGISTRATION NUMBER: SC774622
Purple Peach Properties Ltd
Filleted Unaudited Financial Statements
31 July 2024
Purple Peach Properties Ltd
Financial Statements
Period from 4 July 2023 to 31 July 2024
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
Purple Peach Properties Ltd
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Purple Peach Properties Ltd
Period from 4 July 2023 to 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Purple Peach Properties Ltd for the period ended 31 July 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Purple Peach Properties Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Purple Peach Properties Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Purple Peach Properties Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Purple Peach Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Purple Peach Properties Ltd. You consider that Purple Peach Properties Ltd is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Purple Peach Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
1 April 2025
Purple Peach Properties Ltd
Statement of Financial Position
31 July 2024
31 Jul 24
Note
£
£
Fixed assets
Tangible assets
4
557,390
Current assets
Cash at bank and in hand
5,637
Creditors: amounts falling due within one year
5
554,638
---------
Net current liabilities
549,001
---------
Total assets less current liabilities
8,389
-------
Net assets
8,389
-------
Capital and reserves
Called up share capital
100
Profit and loss account
8,289
-------
Shareholders funds
8,389
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 July 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 April 2025 , and are signed on behalf of the board by:
Ms M Ambrose
Director
Company registration number: SC774622
Purple Peach Properties Ltd
Notes to the Financial Statements
Period from 4 July 2023 to 31 July 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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 of value.
Investment properties
Investment properties are initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment properties are revalued to their fair value at each reporting date and any changes in fair value recognised in profit or loss.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities
4. Tangible assets
Investment Properties
£
Cost
At 4 July 2023
Additions
557,390
---------
At 31 July 2024
557,390
---------
Depreciation
At 4 July 2023 and 31 July 2024
---------
Carrying amount
At 31 July 2024
557,390
---------
The company's investment properties are initially recorded at cost. They are subsequently revalued to recognise their fair value at each reporting date.
5. Creditors: amounts falling due within one year
31 Jul 24
£
Amounts owed to group undertakings
240,000
Accruals and deferred income
2,160
Corporation tax
2,112
Director loan accounts
193,216
Other creditors
117,150
---------
554,638
---------
6. Directors' advances, credits and guarantees
As at 31 July 2024, the company owed the directors £193,216. This amount is interest free, unsecured and has no fixed date of repayment.
7. Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies.
8. Controlling party
Preon Holding is regarded by the directors as being the company's ultimate parent company. Preon Holding is not controlled by any one individual throughout the period.