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REGISTERED NUMBER: 13114324 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Kabbas Gifts Ltd

Kabbas Gifts Ltd (Registered number: 13114324)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Kabbas Gifts Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: A Matini
Ms K L Flowers





REGISTERED OFFICE: Spectrum House
2B Suttons Lane
Hornchurch
Essex
RM12 6RJ





REGISTERED NUMBER: 13114324 (England and Wales)





ACCOUNTANTS: Johal & Company
Chartered Certified Accountants
& Registered Auditors
Spectrum House
2B Suttons Lane
Hornchurch
Essex
RM12 6RJ

Kabbas Gifts Ltd (Registered number: 13114324)

Statement of Financial Position
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 307 410
Investments 5 100 -
Investment property 6 469,328 469,328
469,735 469,738

CURRENT ASSETS
Stocks 10,500 26,000
Debtors 7 22,524 8,148
Cash at bank 14,457 7,864
47,481 42,012
CREDITORS
Amounts falling due within one year 8 217,455 187,529
NET CURRENT LIABILITIES (169,974 ) (145,517 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

299,761

324,221

CREDITORS
Amounts falling due after more than one
year

9

264,920

288,629
NET ASSETS 34,841 35,592

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 34,741 35,492
34,841 35,592

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Kabbas Gifts Ltd (Registered number: 13114324)

Statement of Financial Position - continued
31 January 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2024 and were signed on its behalf by:





Ms K L Flowers - Director


Kabbas Gifts Ltd (Registered number: 13114324)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Kabbas Gifts Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

Kabbas Gifts Ltd (Registered number: 13114324)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 February 2023
and 31 January 2024 587
DEPRECIATION
At 1 February 2023 177
Charge for year 103
At 31 January 2024 280
NET BOOK VALUE
At 31 January 2024 307
At 31 January 2023 410

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 100
At 31 January 2024 100
NET BOOK VALUE
At 31 January 2024 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 469,328
NET BOOK VALUE
At 31 January 2024 469,328
At 31 January 2023 469,328

7. DEBTORS
31.1.24 31.1.23
£    £   
Amounts falling due within one year:
Trade debtors (2 ) (1 )

Kabbas Gifts Ltd (Registered number: 13114324)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. DEBTORS - continued
31.1.24 31.1.23
£    £   
Amounts falling due after more than one year:
Other debtors 22,526 8,149

Aggregate amounts 22,524 8,148

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Taxation and social security 5,167 11,983
Other creditors 212,288 175,546
217,455 187,529

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 264,920 288,629

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 264,920 288,629

10. RELATED PARTY DISCLOSURES

Kabbas Gifts hold 100% of the shares in Joke & Craft Limited as at 31st January 2024.