Company Registration No. SC155147 (Scotland)
Bright Purple Resourcing Ltd.
Unaudited accounts
for the year ended 31 March 2025
Bright Purple Resourcing Ltd.
Unaudited accounts
Contents
Bright Purple Resourcing Ltd.
Company Information
for the year ended 31 March 2025
Directors
Nicholas Price
Kane Webster
Christopher Murphy
Jemma Brown
Company Number
SC155147 (Scotland)
Accountants
Frmwork Ltd
7 South Charlotte Street
EDINBURGH
EH2 4AN
Bright Purple Resourcing Ltd.
Statement of financial position
as at 31 March 2025
Tangible assets
1,066
2,958
Cash at bank and in hand
9,790
9,435
Creditors: amounts falling due within one year
(720,894)
(1,505,970)
Net current assets
214,668
318,160
Total assets less current liabilities
215,734
321,118
Creditors: amounts falling due after more than one year
(141,535)
(212,047)
Called up share capital
7,291
7,291
Capital contribution reserve
2,309
2,309
Profit and loss account
64,599
99,471
Shareholders' funds
74,199
109,071
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2025 and were signed on its behalf by
Nicholas Price
Director
Company Registration No. SC155147
Bright Purple Resourcing Ltd.
Notes to the Accounts
for the year ended 31 March 2025
Bright Purple Resourcing Ltd. is a private company, limited by shares, registered in Scotland, registration number SC155147.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Going concern
As at 31 March 2025 the company had net current assets of £214,688 (2024: £318,160). The directors, with reference to the forecasts prepared, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the directors are satisfied that it is appropriate to adopt the going concern accounting basis.
The accounts are presented in £ sterling.
Turnover is shown net of Value Added Tax and is recognised at the fair value of the consideration received or receivable for sale of services in the ordinary nature of the business.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Bright Purple Resourcing Ltd.
Notes to the Accounts
for the year ended 31 March 2025
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation
and any impairment losses.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives
on the following bases:
Fixtures & fittings
25% Straight Line
Computer equipment
33% Straight Line
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Bright Purple Resourcing Ltd.
Notes to the Accounts
for the year ended 31 March 2025
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised 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 and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.
Classification of 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 deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no
longer at the discretion of the company.
Bright Purple Resourcing Ltd.
Notes to the Accounts
for the year ended 31 March 2025
The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.
Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.
Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.
Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
The company contributes to directors' personal pension plans and operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Bright Purple Resourcing Ltd.
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2024
33,031
50,557
83,588
At 31 March 2025
33,031
51,025
84,056
At 1 April 2024
32,778
47,852
80,630
Charge for the year
168
2,192
2,360
At 31 March 2025
32,946
50,044
82,990
At 31 March 2025
85
981
1,066
At 31 March 2024
253
2,705
2,958
Amounts falling due within one year
Trade debtors
617,277
1,306,095
Amounts due from group undertakings etc.
78,000
41,000
Deferred tax asset
20,805
20,805
Accrued income and prepayments
209,690
-
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
70,512
500,639
Trade creditors
297,044
317,997
Taxes and social security
18,602
148,443
Bank loans and overdrafts are secured by a floating charge over the whole of the company's assets.
A director of the company has provided a personal guarantee over a loan of £40,512 (2024: £35,900) included in other creditors.
Bright Purple Resourcing Ltd.
Notes to the Accounts
for the year ended 31 March 2025
7
Creditors: amounts falling due after more than one year
2025
2024
Other creditors
106,535
147,047
The bank loan is secured by a floating charge over the whole of the company's assets.
A director of the company has provided a personal guarantee over a loan of £106,535 (2024: £147,047) included in other creditors.
Allotted, called up and fully paid:
7,291,000 Ordinary shares of £0.001 each
7,291
7,291
9
Operating lease commitments
2025
2024
At 31 March 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
7,768
Transactions with directors
Dividends totalling £nil (2024: £nil) were paid in the year in respect of shares held by the company's
directors.
11
Average number of employees
During the year the average number of employees was 14 (2024: 21).