IRIS Accounts Production v24.2.0.383 06291525 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false Ordinary A 0.01000 Ordinary B 0.01000 Ordinary C 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh062915252022-12-31062915252023-12-31062915252023-01-012023-12-31062915252021-12-31062915252022-01-012022-12-31062915252022-12-3106291525ns15:EnglandWales2023-01-012023-12-3106291525ns14:PoundSterling2023-01-012023-12-3106291525ns10:Director12023-01-012023-12-3106291525ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3106291525ns10:SmallEntities2023-01-012023-12-3106291525ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3106291525ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3106291525ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106291525ns10:FullAccounts2023-01-012023-12-310629152512023-01-012023-12-3106291525ns10:OrdinaryShareClass12023-01-012023-12-3106291525ns10:OrdinaryShareClass22023-01-012023-12-3106291525ns10:OrdinaryShareClass32023-01-012023-12-3106291525ns10:Director22023-01-012023-12-3106291525ns10:RegisteredOffice2023-01-012023-12-3106291525ns5:CurrentFinancialInstruments2023-12-3106291525ns5:CurrentFinancialInstruments2022-12-3106291525ns5:Non-currentFinancialInstruments2023-12-3106291525ns5:Non-currentFinancialInstruments2022-12-3106291525ns5:ShareCapital2023-12-3106291525ns5:ShareCapital2022-12-3106291525ns5:CapitalRedemptionReserve2023-12-3106291525ns5:CapitalRedemptionReserve2022-12-3106291525ns5:RetainedEarningsAccumulatedLosses2023-12-3106291525ns5:RetainedEarningsAccumulatedLosses2022-12-3106291525ns5:NetGoodwill2023-01-012023-12-3106291525ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3106291525ns5:FurnitureFittings2023-01-012023-12-3106291525ns5:MotorVehicles2023-01-012023-12-3106291525ns5:ComputerEquipment2023-01-012023-12-3106291525ns5:NetGoodwill2022-12-3106291525ns5:NetGoodwill2023-12-3106291525ns5:NetGoodwill2022-12-3106291525ns5:FurnitureFittings2022-12-3106291525ns5:MotorVehicles2022-12-3106291525ns5:ComputerEquipment2022-12-3106291525ns5:FurnitureFittings2023-12-3106291525ns5:MotorVehicles2023-12-3106291525ns5:ComputerEquipment2023-12-3106291525ns5:FurnitureFittings2022-12-3106291525ns5:MotorVehicles2022-12-3106291525ns5:ComputerEquipment2022-12-3106291525ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3106291525ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3106291525ns5:DeferredTaxation2022-12-3106291525ns5:DeferredTaxation2023-12-3106291525ns10:OrdinaryShareClass12023-12-3106291525ns10:OrdinaryShareClass22023-12-3106291525ns10:OrdinaryShareClass32023-12-31
REGISTERED NUMBER: 06291525 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

THE GIFTED STATIONERY COMPANY LTD

THE GIFTED STATIONERY COMPANY LTD (REGISTERED NUMBER: 06291525)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


THE GIFTED STATIONERY COMPANY LTD

Company Information
for the year ended 31 December 2023







DIRECTORS: N G Parr
E Parr





REGISTERED OFFICE: 1 Queen Street
Bath
BA1 1HE





REGISTERED NUMBER: 06291525 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Gifted Stationery Company Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Gifted Stationery Company Ltd for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Gifted Stationery Company Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Gifted Stationery Company Ltd and state those matters that we have agreed to state to the Board of Directors of The Gifted Stationery Company Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Gifted Stationery Company Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Gifted Stationery Company Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Gifted Stationery Company Ltd. You consider that The Gifted Stationery Company Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Gifted Stationery Company Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


20 August 2024

THE GIFTED STATIONERY COMPANY LTD (REGISTERED NUMBER: 06291525)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 51,488 59,179
51,488 59,179

CURRENT ASSETS
Stocks 366,898 237,918
Debtors 6 1,058,000 1,063,152
Cash at bank and in hand 1,076,070 566,828
2,500,968 1,867,898
CREDITORS
Amounts falling due within one year 7 1,265,981 991,737
NET CURRENT ASSETS 1,234,987 876,161
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,286,475

935,340

CREDITORS
Amounts falling due after more than one
year

8

(17,250

)

(26,250

)

PROVISIONS FOR LIABILITIES 10 (12,872 ) (14,795 )
NET ASSETS 1,256,353 894,295

CAPITAL AND RESERVES
Called up share capital 11 18,283 18,283
Capital redemption reserve 1 1
Retained earnings 1,238,069 876,011
SHAREHOLDERS' FUNDS 1,256,353 894,295

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

THE GIFTED STATIONERY COMPANY LTD (REGISTERED NUMBER: 06291525)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





N G Parr - Director


THE GIFTED STATIONERY COMPANY LTD (REGISTERED NUMBER: 06291525)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

The Gifted Stationery Company 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.

Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership.

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life.

The estimated useful economic life of goodwill is 4 years.

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 loss.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 15% on cost
Computer equipment - 25% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

THE GIFTED STATIONERY COMPANY LTD (REGISTERED NUMBER: 06291525)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

THE GIFTED STATIONERY COMPANY LTD (REGISTERED NUMBER: 06291525)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 180,000
AMORTISATION
At 1 January 2023
and 31 December 2023 180,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 16,307 51,945 74,237 142,489
Additions - - 6,922 6,922
At 31 December 2023 16,307 51,945 81,159 149,411
DEPRECIATION
At 1 January 2023 14,061 649 68,600 83,310
Charge for year 2,241 7,792 4,580 14,613
At 31 December 2023 16,302 8,441 73,180 97,923
NET BOOK VALUE
At 31 December 2023 5 43,504 7,979 51,488
At 31 December 2022 2,246 51,296 5,637 59,179

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 472,239 597,890
Amounts owed by group undertakings 61,998 -
Other debtors 523,763 465,262
1,058,000 1,063,152

THE GIFTED STATIONERY COMPANY LTD (REGISTERED NUMBER: 06291525)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 9,000 9,000
Trade creditors 280,667 195,213
Amounts owed to group undertakings - 8,834
Taxation and social security 222,771 180,841
Other creditors 753,543 597,849
1,265,981 991,737

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 17,250 26,250

9. SECURED DEBTS

The hire purchase liabilities are secured against the assets to which they relate.

Close Brothers Limited hold a charge dated 30 July 2018 in respect of the assets of the
company. At the year-end, the company owed an overall balance of £42,696 (2022: £nil).

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 12,872 14,795

Deferred
tax
£   
Balance at 1 January 2023 14,795
Accelerated capital allowances (1,923 )
Balance at 31 December 2023 12,872

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,828,128 Ordinary A £0.01 18,281 18,281
100 Ordinary B £0.01 1 1
100 Ordinary C £0.01 1 1
18,283 18,283

Each Ordinary A share carries full voting and participation rights.

Each Ordinary B share carries no voting or participation rights.

Each Ordinary C share carries full voting and participation rights

THE GIFTED STATIONERY COMPANY LTD (REGISTERED NUMBER: 06291525)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

12. PARENT COMPANY

Gifted Stationery Holdings Limited is the parent company of The Gifted Stationery Company Ltd.

13. OPERATING LEASES

At the year end, the total of future minimum lease payments under non-cancellable operating leases was £62,833 (2022: £36,833).