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Company No: 07276142 (England and Wales)

HENDERSON GIFTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

HENDERSON GIFTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

HENDERSON GIFTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
HENDERSON GIFTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR Angela Henderson
REGISTERED OFFICE Y7 Elvington Idustrial Estate
York
YO41 4AR
England
United Kingdom
COMPANY NUMBER 07276142 (England and Wales)
ACCOUNTANT Jones & Co of York Limited
Wellington House
Aviator Court
York
YO30 4UZ
United Kingdom
HENDERSON GIFTS LIMITED

BALANCE SHEET

As at 31 March 2024
HENDERSON GIFTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 8,379 9,013
8,379 9,013
Current assets
Stocks 4 9,300 14,950
Debtors 5 3,020 250
Cash at bank and in hand 6 2,311 7,822
14,631 23,022
Creditors: amounts falling due within one year 7 ( 107,536) ( 111,843)
Net current liabilities (92,905) (88,821)
Total assets less current liabilities (84,526) (79,808)
Creditors: amounts falling due after more than one year 8 ( 50,000) ( 50,000)
Net liabilities ( 134,526) ( 129,808)
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account ( 134,626 ) ( 129,908 )
Total shareholder's deficit ( 134,526) ( 129,808)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Henderson Gifts Limited (registered number: 07276142) were approved and authorised for issue by the Director on 19 April 2024. They were signed on its behalf by:

Angela Henderson
Director
HENDERSON GIFTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
HENDERSON GIFTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Henderson Gifts Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Y7 Elvington Idustrial Estate, York, YO41 4AR, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 April 2023 23,257 8,000 3,822 35,079
Additions 1,038 0 1,066 2,104
At 31 March 2024 24,295 8,000 4,888 37,183
Accumulated depreciation
At 01 April 2023 15,268 7,199 3,599 26,066
Charge for the financial year 2,192 200 346 2,738
At 31 March 2024 17,460 7,399 3,945 28,804
Net book value
At 31 March 2024 6,835 601 943 8,379
At 31 March 2023 7,989 801 223 9,013

4. Stocks

2024 2023
£ £
Stocks 9,300 14,950

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Debtors

2024 2023
£ £
Prepayments and accrued income 3,020 250

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 2,311 7,822
Less: Bank overdrafts ( 9,008) ( 2,495)
(6,697) 5,327

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 9,008 2,495
Trade creditors 70 250
Amounts owed to director 73,176 82,939
Accruals 120 0
Other taxation and social security 1,074 2,109
Other creditors 24,088 24,050
107,536 111,843

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

2024 2023
£ £
Other creditors 50,000 50,000

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100