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Company Registration No. 12734155 (England and Wales)
GIFTS WITH A PURPOSE LTD Unaudited accounts for the year ended 31 July 2023
GIFTS WITH A PURPOSE LTD Unaudited accounts Contents
Page
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GIFTS WITH A PURPOSE LTD Company Information for the year ended 31 July 2023
Director
Sharon Holmes
Company Number
12734155 (England and Wales)
Registered Office
46 LINCOLNS MEAD LINGFIELD RH7 6TA ENGLAND
Accountants
Taxez 5 South Charlotte Street Edinburgh EH2 4AN
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GIFTS WITH A PURPOSE LTD Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Inventories
598 
1,241 
Debtors
381 
445 
Cash at bank and in hand
4,316 
3,635 
5,295 
5,321 
Creditors: amounts falling due within one year
(1,620)
(4,647)
Net current assets
3,675 
674 
Net assets
3,675 
674 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
3,674 
673 
Shareholders' funds
3,675 
674 
For the year ending 31 July 2023 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 director acknowledges her 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 and authorised for issue on 5 January 2024 and were signed on its behalf by
Sharon Holmes Director Company Registration No. 12734155
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GIFTS WITH A PURPOSE LTD Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
GIFTS WITH A PURPOSE LTD is a private company, limited by shares, registered in England and Wales, registration number 12734155. The registered office is 46 LINCOLNS MEAD, LINGFIELD, RH7 6TA, ENGLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
381 
445 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
704 
158 
Loans from directors
557 
4,190 
Accruals
359 
299 
1,620 
4,647 
6
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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