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Registered Number: 03641403
England and Wales

 

 

 

PURPLE TURTLE (HOLDINGS) LIMITED



Unaudited Abridged Financial Statements
 


Period of accounts

Start date: 01 December 2023

End date: 30 November 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 1,838,438    1,890,707 
Investments 5 3,220,100    3,125,100 
5,058,538    5,015,807 
Current assets      
Debtors 1,243,869    1,220,351 
Cash at bank and in hand 164,562    486,142 
1,408,431    1,706,493 
Creditors: amount falling due within one year (504,457)   (552,164)
Net current assets 903,974    1,154,329 
 
Total assets less current liabilities 5,962,512    6,170,136 
Creditors: amount falling due after more than one year (387,857)   (486,524)
Provisions for liabilities (353,877)   (331,262)
Net assets 5,220,778    5,352,350 
 

Capital and reserves
     
Called up share capital 100    100 
Reserves 6 1,785,774    1,690,774 
Profit and loss account 3,434,904    3,661,476 
Shareholders' funds 5,220,778    5,352,350 
 


For the year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 16 June 2025 and were signed on its behalf by:


-------------------------------
D P Fraifeld
Director
-------------------------------
G S Muden
Director
1
General Information
Purple Turtle (Holdings) Limited is a private company, limited by shares, registered in England and Wales, registration number 03641403, registration address 9 Gun Street, Reading, Berkshire, RG1 2JR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Rent receivable is shown under Other Operating Income and is recognised at the point of invoice. All other fees are invoiced quarterly in arrears and are recognised at the point of invoice.
Operating lease agreements
Rentals paid under operating leases are charged to profit or loss on a straight line casis over the period of the lease.
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.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, 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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year and and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold property         - 2% on cost
Plant and machinery    - 20% on cost
Fixtures and fittings      - 15% on reducing balance
Office equipment          - 33% on cost  
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. No depreciation has been provided for on freehold peoperties held for investment purposes.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value. Dividends when paid are included in the profit and loss account. Consolidated accounts are not prepared as the company qualifies for exemption as part of a small group within the meaning of the Companies Act 2006.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
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 subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Financial Commitments, Guarantees and Contingencies

Purple Turtle (Holdings) Limited has given Lloyds TSB Bank Plc unlimited guarantee in Bank standard form for its subsidiary.

4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 December 2023 2,508,307    1,124    23,838    30,466    2,563,735 
Additions        
Disposals       (12,400)   (12,400)
At 30 November 2024 2,508,307    1,124    23,838    18,066    2,551,335 
Depreciation
At 01 December 2023 625,307    1,124    19,447    27,150    673,028 
Charge for year 50,167      658    1,443    52,268 
On disposals       (12,399)   (12,399)
At 30 November 2024 675,474    1,124    20,105    16,194    712,897 
Net book values
Closing balance as at 30 November 2024 1,832,833      3,733    1,872    1,838,438 
Opening balance as at 01 December 2023 1,883,000      4,391    3,316    1,890,707 


Fixed Asset Investments
The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

The Purple Turtle Limited
Registered office: United Kingdom
Nature of Business: Bar
  
Class of shares:                                                                   % holding                              
Ordinary £1                                                                                    100

.   30.11.24
£
  30.11.23
£
Aggregate capital and reserves 760,270  315,229 
Profit / (loss) for the period / year 445,041  107,265 

The fixed asset investments are made up as follows:

Share capital of unlisted companies (as above) £100 (2023 - £100).

5.

Investments

Cost Investments in group undertakings   Other investments other than loans   Total
  £   £   £
At 01 December 2023 100    3,125,000    3,125,100 
Additions    
Transfer to/from tangible fixed assets    
Disposals    
Revaluations   95,000    95,000 
At 30 November 2024 100    3,220,000    3,220,100 

Valuation of investment property
The investment properties were valued on an open market basis by the directors of Purple Turtle (Holdings) Ltd at 30 November 2024 (30 November 2023 - valued on an open market basis by David Cliff Property Services Limited).

Fair value at 30 November 2024 is represented by:

Particulars   Current
£
Valuation in 2007 180,000 
Valuation in 2012 158,822 
Valuation in 2014 155,112 
Valuation in 2015 305,000 
Valuation in 2016 270,000 
Valuation in 2017 (125,000)
Valuation in 2018 (605,604)
Valuation in 2019 220,000 
Valuation in 2020 260,764 
Valuation in 2021 204,999 
Valuation in 2023 (40,000)
Valuation in 2024 95,000 
Cost 2,140,907 
3,220,000 


6.

Advances and Credits



G S Muden
At the balance sheet date there was a credit balance on G S Muden's loan account of £119,555 (2023: £115,826) Interest was paid at 3% on credit balances. The loan has no fixed date for repayment.

Current year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
G S Muden(115,826)98,257 101,986 (119,555)
-11582698257010198600-119555
Previous year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
G S Muden164,633 280,459 (115,826)
0164633028045900-115826
7.

Director’s loan

Director's Advances, Credits And Guarantees

At the balance sheet date there was a credit balance of £6,665 (2023 : £239) on D P Fraifeld's loan account.

Interest was paid at 3% on credit balances. No interest was charged on overdrawn balances. The loan has no fixed date for repayment.


8.

Debtors: amounts due within one year

.   2024
£
  2023
£
Trade Debtors 9,358  4,798 
Prepayments & Accrued Income 11,330  9,438 
Other Debtors 1,223,181  1,206,115 
1,243,869  1,220,351 

9.

Creditors: amount falling due within one year

.   2024
£
  2023
£
Trade Creditors 9,906  8,621 
Bank Loans & Overdrafts (Secured) 133,505  132,680 
Amount Owed to Group Undertakings 122,542  192,064 
Corporation Tax 85,716  75,693 
PAYE & Social Security 1,485  2,300 
Accrued Expenses 4,094  6,832 
Other Creditors 2,339  2,912 
Directors 126,220  116,065 
VAT 18,650  14,997 
504,457  552,164 

10.

Creditors: amount falling due after more than one year

.   2024
£
  2023
£
Bank Loans & Overdrafts (secured) 387,857  486,524 
387,857  486,524 

11.

Secured debts

The following secured debts are included within creditors:

.   30.11.24
£
  30.11.23
£
Bank loans 521,363  619,203 


The bank has first legal charge in the bank's standard form over nine investment properties, the freehold property shown in note 5 to the accounts and all other assets held by the company.
12.

Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

.   30.11.24
£
  30.11.23
£
Within one year 3,181 
Between one and five years
3,181 

2