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REGISTERED NUMBER: 08600709 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

THE UNIVERSAL GIFT CARD COMPANY LIMITED

THE UNIVERSAL GIFT CARD COMPANY LIMITED (Registered number: 08600709)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE UNIVERSAL GIFT CARD COMPANY LIMITED

Company Information
for the Year Ended 31 July 2023







DIRECTOR: W T De Zoysa





SECRETARY: W T De Zoysa





REGISTERED OFFICE: 39 Ludgate Hill City
2nd Floor
London
EC4M 7JN





REGISTERED NUMBER: 08600709 (England and Wales)





ACCOUNTANTS: Euro Ashfords (UK) Ltd
2nd Floor,
39 Ludgate hill
London
EC4M 7JN

THE UNIVERSAL GIFT CARD COMPANY LIMITED (Registered number: 08600709)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,002 5,155
Tangible assets 5 10,413 10,878
13,415 16,033

CURRENT ASSETS
Stocks 7,200 15,000
Debtors 6 6,893 82,581
Cash at bank 122,981 116,747
137,074 214,328
CREDITORS
Amounts falling due within one year 7 82,733 135,575
NET CURRENT ASSETS 54,341 78,753
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,756

94,786

CREDITORS
Amounts falling due after more than one
year

8

(17,653

)

(27,111

)

PROVISIONS FOR LIABILITIES 9 (1,979 ) (2,067 )
NET ASSETS 48,124 65,608

CAPITAL AND RESERVES
Called up share capital 10 153,369 153,369
Share premium 163,881 163,881
Retained earnings (269,126 ) (251,642 )
SHAREHOLDERS' FUNDS 48,124 65,608

THE UNIVERSAL GIFT CARD COMPANY LIMITED (Registered number: 08600709)

Balance Sheet - continued
31 July 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 30 July 2024 and were signed by:





W T De Zoysa - Director


THE UNIVERSAL GIFT CARD COMPANY LIMITED (Registered number: 08600709)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

THE UNIVERSAL GIFT CARD COMPANY LIMITED 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

THE UNIVERSAL GIFT CARD COMPANY LIMITED (Registered number: 08600709)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2022
and 31 July 2023 10,764
AMORTISATION
At 1 August 2022 5,609
Charge for year 2,153
At 31 July 2023 7,762
NET BOOK VALUE
At 31 July 2023 3,002
At 31 July 2022 5,155

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 31,858
Additions 3,129
At 31 July 2023 34,987
DEPRECIATION
At 1 August 2022 20,980
Charge for year 3,594
At 31 July 2023 24,574
NET BOOK VALUE
At 31 July 2023 10,413
At 31 July 2022 10,878

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors - 70,738
Other debtors 6,893 11,843
6,893 82,581

THE UNIVERSAL GIFT CARD COMPANY LIMITED (Registered number: 08600709)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 10,680 11,223
Taxation and social security 12,074 12,721
Other creditors 59,979 111,631
82,733 135,575

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 17,653 27,111

9. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax
Accelerated capital allowances 1,979 2,067

Deferred
tax
£   
Balance at 1 August 2022 2,067
Utilised during year (88 )
Balance at 31 July 2023 1,979

10. CALLED UP SHARE CAPITAL


Allotted and issued:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
15,256,499 Share capital 1 1 153,369 153,369

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
W T De Zoysa
Balance outstanding at start of year (46,367 ) (35,004 )
Amounts advanced 4,950 -
Amounts repaid (16,403 ) (11,363 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (57,820 ) (46,367 )

THE UNIVERSAL GIFT CARD COMPANY LIMITED (Registered number: 08600709)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

12. ULTIMATE CONTROLLING PARTY

The controlling party is W T De Zoysa.