Purple Girder Limited Filleted accounts for Companies House (small and micro)

PURPLE GIRDER LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08775604

PURPLE GIRDER LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 November 2020

PURPLE GIRDER LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 NOVEMBER 2020

Contents	Pages

Balance sheet 1

Notes to the financial statements 2 to 4

PURPLE GIRDER LIMITED

BALANCE SHEET

30 November 2020

	2020	2019
Note	£	£

Fixed assets

Tangible assets	5	223,891	223,891

Current assets

Debtors	6	8,708	8,441
Cash at bank and in hand		73,159	38,648
		------------	------------
		81,867	47,089

Creditors: amounts falling due within one year	7	( 93,506)	( 85,490)
		------------	------------
Net current liabilities		( 11,639)	( 38,401)
		------------	------------
Total assets less current liabilities		212,252	185,490

Creditors: amounts falling due after more than one year	8	( 100,593)	( 110,595)
		------------	------------
Net assets		111,659	74,895
		------------	------------

Capital and reserves

Called up share capital	9	120	120
Profit and loss account		111,539	74,775
		------------	------------
Shareholders funds		111,659	74,895
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 17 March 2021 , and are signed on behalf of the board by:

I Foxon

Director

Company registration number: 08775604

PURPLE GIRDER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 NOVEMBER 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, HD1 1PA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is initially recorded at cost and is subject to an annual impairment review. The directors do not consider that the time and expense involved in undertaking regular revaluations can be justified.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Turnover

The company's turnover is derived entirely within the United Kingdom.

5. Tangible assets

	Investment property
	£
Cost
At 1 December 2019 and 30 November 2020	223,891
	------------
Depreciation
At 1 December 2019 and 30 November 2020	–
	------------
Carrying amount
At 30 November 2020	223,891
	------------
At 30 November 2019	223,891
	------------

6. Debtors

	2020	2019
	£	£
Trade debtors	8,708	8,441
	------------	------------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loan (secured)	9,000	8,500
Trade creditors	1,129	–
Accruals and deferred income	1,670	1,900
Corporation tax	8,687	2,576
Social security and other taxes	3,140	2,634
Director loan accounts	69,880	69,880
	------------	------------
	93,506	85,490
	------------	------------

8. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Bank loan (secured)	100,593	110,595
	------------	------------

Part of the bank loan is repayable more than five years after the balance sheet date.

9. Called up share capital

Issued, called up and fully paid

	2020		2019
	No.	£	No.	£
Ordinary shares of £ 1 each	120	120	120	120
	------------	------------	------------	------------

10. Related party transactions

The bank loan is partly secured by a cross guarantee and debenture provided by The Beat-Herder Limited, a company controlled by the directors. The directors' loans above are unsecured, repayable on demand and currently interest-free. There is no one controlling party of the company.