ACCOUNTS - Final Accounts preparation

Registered number: SC761514

PURPLE VENTURE 701 LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

PURPLE VENTURE 701 LIMITED

COMPANY INFORMATION

Director	Mr G Riddell


Registered number	SC761514


Registered office	1 George Square
	Castle Brae
	Dunfermline
	KY11 8QF


Accountants	EQ Accountants Limited
	Chartered Accountants
	Pentland House
	Saltire Centre
	Glenrothes
	Fife
	KY6 2AH

PURPLE VENTURE 701 LIMITED

REGISTERED NUMBER: SC761514

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
		£		£


Current assets
Debtors: amounts falling due after more than one year	1,400,001		1,400,851
	1,400,001		1,400,851
Creditors: amounts falling due within one year	(406,967)		(178,006)
Net current assets		993,034		1,222,845
Total assets less current liabilities		993,034		1,222,845
Creditors: amounts falling due after more than one year		(1,484,759)		(1,484,759)

Net liabilities		(491,725)		(261,914)

Capital and reserves
Called up share capital	7	1	1
Profit and loss account		(491,726)	(261,915)
		(491,725)	(261,914)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr G Riddell

Director

Date: 23 December 2025

The notes on pages 2 to 3 form part of these financial statements.

Page 1

PURPLE VENTURE 701 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

The company is limited by shares and incorporated in Scotland; Registration Number: SC761514. The
registered office is 1 George Square, Castle Brae, Dunfermline, Scotland, KY11 8QF.
The financial statements are prepared in Sterling which is the functional currency of the company and
rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis, notwithstanding, the company has net liabilities of £491,725. The company is reliant upon continued support of group companies and based on this, the director believes the company has sufficient working capital to continue trading for at least 12 months from the date the financial statements are approved.

2.3

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position 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.

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

Page 2

PURPLE VENTURE 701 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Debtors
		2025	2024
		£	£

Due after more than one year
Amounts owed by group undertakings	1,400,001	1,400,851
	1,400,001	1,400,851

5.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Amounts owed to group undertakings	388,287	158,391
Accruals and deferred income	18,680	19,615
	406,967	178,006

6.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Other loans	1,484,759	1,484,759
	1,484,759	1,484,759

The other loans are secured and are subject to a cross corporate guarantee with group companies GR8 Developments Limited, Simple Technical Solutions Ltd and Simple Technical Solutions Holdings Limited.

7.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary share of £1.00	1	1

8.	Controlling party

From 2 May 2023, the ultimate controlling party was Simple Technical Solutions Holdings Limited, a company incorporated in Scotland; Registered number SC616765. The registered office is Unit 3, Bankhead Avenue, Bankhead Industrial Estate, Glenrothes, KY7 6JG.

Page 3