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Registration number: 12906043

Purple Wealth Ltd

Annual Report and Unaudited Financial Statements

For The Year Ended 31 March 2025

 

Purple Wealth Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Purple Wealth Ltd

(Registration number: 12906043)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

           

Fixed assets

   

 

Intangible assets

5

 

7,200

 

14,400

Tangible assets

6

 

8,402

 

7,584

   

15,602

 

21,984

Current assets

   

 

Debtors

7

-

 

7,665

 

Cash at bank and in hand

 

267,993

 

175,884

 

 

267,993

 

183,549

 

Creditors: Amounts falling due within one year

8

(160,020)

 

(167,648)

 

Net current assets

   

107,973

 

15,901

Net assets

   

123,575

 

37,885

Capital and reserves

   

 

Called up share capital

15,700

 

15,700

 

Capital redemption reserve

10,400

 

10,400

 

Profit and loss account

97,475

 

11,785

 

Total equity

   

123,575

 

37,885

For the financial year ending 31 March 2025 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 June 2025 and signed on its behalf by:
 

.........................................
Mr C.J. Handley
Director

 

Purple Wealth Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2025

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:
Handwell House
98 Ringer Lane
Clowne
Derbyshire
S43 4BZ

These financial statements were authorised for issue by the Board on 5 June 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

The financial statements have been prepared using the historical cost convention.

The financial statements are presented in Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of goods and services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Purple Wealth Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment and furniture

25% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

Goodwill

Useful life of five years

Share capital

Ordinary shares are classified as equity.

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.

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 7 (2024 - 6).

4

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

5,754

4,111

Amortisation expense

7,200

7,200

 

Purple Wealth Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2025

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

36,000

36,000

At 31 March 2025

36,000

36,000

Amortisation

At 1 April 2024

21,600

21,600

Amortisation charge

7,200

7,200

At 31 March 2025

28,800

28,800

Carrying amount

At 31 March 2025

7,200

7,200

At 31 March 2024

14,400

14,400

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

16,443

16,443

Additions

6,571

6,571

At 31 March 2025

23,014

23,014

Depreciation

At 1 April 2024

8,859

8,859

Charge for the year

5,753

5,753

At 31 March 2025

14,612

14,612

Carrying amount

At 31 March 2025

8,402

8,402

At 31 March 2024

7,584

7,584

7

Debtors

Current

2025
£

2024
£

Other debtors

-

7,665

 

-

7,665

 

Purple Wealth Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Taxation and social security

61,149

62,970

Other creditors

98,871

104,678

160,020

167,648