Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.trueNo description of principal activityfalse02022-01-010false 13094750 2022-01-01 2022-12-31 13094750 2020-12-22 2021-12-31 13094750 2022-12-31 13094750 2021-12-31 13094750 c:Director1 2022-01-01 2022-12-31 13094750 d:OfficeEquipment 2022-01-01 2022-12-31 13094750 d:OfficeEquipment 2022-12-31 13094750 d:OfficeEquipment 2021-12-31 13094750 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 13094750 d:CurrentFinancialInstruments 2022-12-31 13094750 d:CurrentFinancialInstruments 2021-12-31 13094750 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13094750 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 13094750 d:ShareCapital 2022-12-31 13094750 d:ShareCapital 2021-12-31 13094750 d:RetainedEarningsAccumulatedLosses 2022-12-31 13094750 d:RetainedEarningsAccumulatedLosses 2021-12-31 13094750 c:FRS102 2022-01-01 2022-12-31 13094750 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 13094750 c:FullAccounts 2022-01-01 2022-12-31 13094750 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 13094750









GIFTOSA LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
GIFTOSA LTD
REGISTERED NUMBER: 13094750

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
281
375

  
281
375

Current assets
  

Cash at bank and in hand
 5 
38
88

  
38
88

Creditors: amounts falling due within one year
 6 
(5,935)
(3,601)

Net current liabilities
  
 
 
(5,897)
 
 
(3,513)

Total assets less current liabilities
  
(5,616)
(3,138)

  

Net liabilities
  
(5,616)
(3,138)


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
(5,626)
(3,148)

  
(5,616)
(3,138)


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 her 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 profit and loss account 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 on 29 September 2023.


Iyobosa Osunde
Director

Page 1

 
GIFTOSA LTD
REGISTERED NUMBER: 13094750
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
GIFTOSA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

The company is limited by shares and incorporated in England. The address of the registerd office is
given in the company information page of these financial statements.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
GIFTOSA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
on a reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2021 - £NIL).

The average monthly number of employees, including directors, during the year was 0 (2021 - 0).

Page 4

 
GIFTOSA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2022
500



At 31 December 2022

500



Depreciation


At 1 January 2022
125


Charge for the year on owned assets
94



At 31 December 2022

219



Net book value



At 31 December 2022
281



At 31 December 2021
375


5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
38
88

38
88



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other creditors
4,975
3,121

Accruals and deferred income
960
480

5,935
3,601


 
Page 5