Company Registration No. SC155147 (Scotland)
Bright Purple Resourcing Ltd.
Unaudited accounts
for the year ended 31 March 2020
Bright Purple Resourcing Ltd.
Unaudited accounts
Contents
Bright Purple Resourcing Ltd.
Company Information
for the year ended 31 March 2020
Directors
Nicholas Charles Price
Peter Paul Flaherty
Matthew John Angus Tedstone
Secretary
Nicholas Charles Price
Company Number
SC155147 (Scotland)
Registered Office
The Eagle Building
19 Rose Street
Edinburgh
EH2 2PR
Bright Purple Resourcing Ltd.
Statement of financial position
as at 31 March 2020
Tangible assets
4,011
8,423
Debtors
1,570,717
1,295,197
Cash at bank and in hand
52,191
12,210
Creditors: amounts falling due within one year
(1,271,238)
(1,066,503)
Net current assets
351,670
240,904
Net assets
355,682
249,328
Called up share capital
7,291
7,291
Capital redemption reserve
2,309
2,309
Profit and loss account
346,082
239,728
Shareholders' funds
355,682
249,328
For the year ending 31 March 2020 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 17 August 2020 and were signed on its behalf by
Nicholas Charles Price
Director
Company Registration No. SC155147
Bright Purple Resourcing Ltd.
Notes to the Accounts
for the year ended 31 March 2020
Bright Purple Resourcing Ltd. is a private company, limited by shares, registered in Scotland, registration number SC155147. The registered office is The Eagle Building, 19 Rose Street, Edinburgh, EH2 2PR.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line
Computer equipment
33% Straight Line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Bright Purple Resourcing Ltd.
Notes to the Accounts
for the year ended 31 March 2020
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2019
88,918
90,886
179,804
At 31 March 2020
88,918
93,675
182,593
At 1 April 2019
88,564
82,817
171,381
Charge for the year
115
7,086
7,201
At 31 March 2020
88,679
89,903
178,582
At 31 March 2020
239
3,772
4,011
At 31 March 2019
354
8,069
8,423
5
Investments
Subsidiary undertakings
Valuation at 1 April 2019
1
Valuation at 31 March 2020
1
Trade debtors
921,864
621,742
Deferred tax asset
1,586
34,574
Accrued income and prepayments
647,267
638,881
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
224,797
228,794
Trade creditors
587,088
416,924
Taxes and social security
133,082
84,768
Other creditors
326,271
336,017
The invoice discounting balance of £224,797 (2019: £228,794), included in bank loans and overdrafts, is secured by a floating charge over the company's assets and undertakings and also by a fixed charge over the company's debtors.
Allotted, called up and fully paid:
7,291,000 Ordinary shares of £0.001 each
7,291
7,291
Bright Purple Resourcing Ltd.
Notes to the Accounts
for the year ended 31 March 2020
9
Operating lease commitments
2020
2019
At 31 March 2020 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
172,663
326,141
10
Transactions with related parties
During the year, the company provided contract labour to IDE-International Limited in the normal course of its business to the value of £121,134 (2019: £316,713).
The balance due from IDE-International Limited at the year end and included in trade debtors is £102,681 (2019: Nil)
53.9% of the company's ordinary share capital is held by IDE-International Limited, a company registered in Scotland number SC418629
12
Average number of employees
During the year the average number of employees was 21 (2019: 20).
