Company Registration No. SC768072 (Scotland)
Bright Purple Holdings Limited
Unaudited accounts
for the year ended 31 March 2025
Bright Purple Holdings Limited
Unaudited accounts
Contents
Bright Purple Holdings Limited
Company Information
for the year ended 31 March 2025
Company Number
SC768072 (Scotland)
Registered Office
Caledonian Exchange
19a Canning Street
Edinburgh
Midlothian
EH3 8HE
Scotland
Accountants
Frmwork Ltd
7 South Charlotte Street
EDINBURGH
EH2 4AN
Bright Purple Holdings Limited
Statement of financial position
as at 31 March 2025
Investments
510,185
510,185
Cash at bank and in hand
3,170
195
Creditors: amounts falling due within one year
(126,419)
(120,406)
Net current liabilities
(123,249)
(120,211)
Total assets less current liabilities
386,936
389,974
Creditors: amounts falling due after more than one year
(107,036)
(107,036)
Net assets
279,900
282,938
Called up share capital
5,405
3,994
Profit and loss account
274,495
278,944
Shareholders' funds
279,900
282,938
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 director acknowledges his 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 and authorised for issue on 13 August 2025 and were signed on its behalf by
Nicholas Price
Director
Company Registration No. SC768072
Bright Purple Holdings Limited
Notes to the Accounts
for the year ended 31 March 2025
Bright Purple Holdings Limited is a private company, limited by shares, registered in Scotland, registration number SC768072. The registered office is Caledonian Exchange, 19a Canning Street, Edinburgh, Midlothian, EH3 8HE, Scotland.
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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.
Accounting convention
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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
Going concern
At the balance sheet date, the company had net current liabilities of £122,249 (2024: £120,211). The company relies on support from its trading subsidiary, Bright Purple Resourcing Limited, to meet liabilities as they fall due. The director has prepared detailed forecasts for the trading subsidiary, which covers a period of at least 12 months from
the date of approval of these financial statements. The director with reference to these forecasts, believes that the group has adequate resources to continue in operational existence for the foreseeable future and as such adopt the going concern basis of accounting in preparing the financial statements.
The accounts are presented in £ sterling.
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Bright Purple Holdings Limited
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, 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 other creditors and loans from fellow group companies, 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 Holdings Limited
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.
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Investments
Subsidiary undertakings
Valuation at 1 April 2024
510,185
Valuation at 31 March 2025
510,185
Shares in group undertakings and participating interests.
On 18 May 2023 the company acquired the share capital of Bright Purple Resourcing Ltd.
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Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
44,799
79,406
Amounts owed to group undertakings and other participating interests
78,000
41,000
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Creditors: amounts falling due after more than one year
2025
2024
Bank loans
107,036
107,036
Bright Purple Holdings Limited
Notes to the Accounts
for the year ended 31 March 2025
Allotted, called up and fully paid:
5,405 Ordinary shares of £1 each
5,405
3,994
Shares issued during the period:
1,411 Ordinary shares of £1 each
1,411
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Average number of employees
During the year the average number of employees was 0 (2024: 0).