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REGISTERED NUMBER: 05623937 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

GIFTING STUDIO LTD

GIFTING STUDIO LTD (REGISTERED NUMBER: 05623937)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GIFTING STUDIO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: L Jacobs





SECRETARY: J Jacobs





REGISTERED OFFICE: Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU





REGISTERED NUMBER: 05623937 (England and Wales)





ACCOUNTANTS: d&t
Chartered Accountants
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU

GIFTING STUDIO LTD (REGISTERED NUMBER: 05623937)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,071 3,324
2,071 3,324

CURRENT ASSETS
Stocks 50,297 50,297
Debtors 6 6,689 2,644
Cash at bank 2,230 4,213
59,216 57,154
CREDITORS
Amounts falling due within one year 7 69,768 38,117
NET CURRENT (LIABILITIES)/ASSETS (10,552 ) 19,037
TOTAL ASSETS LESS CURRENT
LIABILITIES

(8,481

)

22,361

CREDITORS
Amounts falling due after more than one
year

8

(16,514

)

(26,612

)

PROVISIONS FOR LIABILITIES - (395 )
NET LIABILITIES (24,995 ) (4,646 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (25,095 ) (4,746 )
(24,995 ) (4,646 )

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

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

The director acknowledges her 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.

GIFTING STUDIO LTD (REGISTERED NUMBER: 05623937)

BALANCE SHEET - continued
30 NOVEMBER 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 17 July 2024 and were signed by:





L Jacobs - Director


GIFTING STUDIO LTD (REGISTERED NUMBER: 05623937)

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

1. STATUTORY INFORMATION

Gifting Studio 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Website development has been fully amortised over its useful life of 4 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 - 25% straight line basis, 20% straight line basis, 20% on reducing balance and 10% straight line basis

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.


GIFTING STUDIO LTD (REGISTERED NUMBER: 05623937)

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

2. ACCOUNTING POLICIES - continued
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.

HIRE PURCHASE AND LEASING COMMITMENTS
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.

GOING CONCERN
The company and the director are committed to finding a viable solution to support the company's trading in the future, and on that basis the company is considered a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022
and 30 November 2023 9,538
AMORTISATION
At 1 December 2022
and 30 November 2023 9,538
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

GIFTING STUDIO LTD (REGISTERED NUMBER: 05623937)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 41,981
DEPRECIATION
At 1 December 2022 38,657
Charge for year 1,253
At 30 November 2023 39,910
NET BOOK VALUE
At 30 November 2023 2,071
At 30 November 2022 3,324

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,481 2,123
Other debtors 4,208 521
6,689 2,644

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 19,255 9,924
Trade creditors 17,647 7,444
Taxation and social security 3,129 15,773
Other creditors 29,737 4,976
69,768 38,117

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 16,514 26,612

9. RELATED PARTY DISCLOSURES

Unless otherwise disclosed, all related party transactions have been conducted under normal market conditions, including dividend payments to it's shareholders.