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REGISTERED NUMBER: 09203723 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

PALIMI GIFTS LTD

PALIMI GIFTS LTD (REGISTERED NUMBER: 09203723)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PALIMI GIFTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: P A Leivers





REGISTERED OFFICE: 102 St Wilfrids Road
Doncaster
South Yorkshire
DN4 6AF





REGISTERED NUMBER: 09203723 (England and Wales)





ACCOUNTANTS: A Wigglesworth and Company Ltd
Chartered Accountants
Armstrong House
First Avenue
Finningley
Doncaster
South Yorkshire
DN9 3GA

PALIMI GIFTS LTD (REGISTERED NUMBER: 09203723)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 356 531

CURRENT ASSETS
Stocks 4,358 2,797
Debtors 5 141 259
Cash at bank and in hand 7,834 15,293
12,333 18,349
CREDITORS
Amounts falling due within one year 6 11,986 17,599
NET CURRENT ASSETS 347 750
TOTAL ASSETS LESS CURRENT
LIABILITIES

703

1,281

PROVISIONS FOR LIABILITIES 68 100
NET ASSETS 635 1,181

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 633 1,179
SHAREHOLDERS' FUNDS 635 1,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PALIMI GIFTS LTD (REGISTERED NUMBER: 09203723)

BALANCE SHEET - continued
30 SEPTEMBER 2023


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 director and authorised for issue on 8 December 2023 and were signed by:





P A Leivers - Director


PALIMI GIFTS LTD (REGISTERED NUMBER: 09203723)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Palimi 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 - 33% on reducing balance

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

PALIMI GIFTS LTD (REGISTERED NUMBER: 09203723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 October 2022
and 30 September 2023 959
DEPRECIATION
At 1 October 2022 428
Charge for year 175
At 30 September 2023 603
NET BOOK VALUE
At 30 September 2023 356
At 30 September 2022 531

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 141 259

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 374 446
Other creditors 11,612 17,153
11,986 17,599

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the director £8,738 (2022 - £8,339).

8. ULTIMATE CONTROLLING PARTY

There is no overall controlling party.