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Company Registration No. 12352615 (England and Wales)
Intouch Greeting Cards Ltd Unaudited accounts for the year ended 31 December 2023
Intouch Greeting Cards Ltd Unaudited accounts Contents
Page
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Intouch Greeting Cards Ltd Company Information for the year ended 31 December 2023
Director
E Callaghan
Company Number
12352615 (England and Wales)
Registered Office
LONGLANDS HALL EAST END LANE STONHAM ASPAL SUFFOLK IP14 6AR ENGLAND
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Intouch Greeting Cards Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
6,400 
12,800 
Tangible assets
2,257 
1,612 
8,657 
14,412 
Current assets
Inventories
33,242 
25,643 
Cash at bank and in hand
8,898 
15,304 
42,140 
40,947 
Creditors: amounts falling due within one year
(70,373)
(72,286)
Net current liabilities
(28,233)
(31,339)
Net liabilities
(19,576)
(16,927)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(19,676)
(17,027)
Shareholders' funds
(19,576)
(16,927)
For the year ending 31 December 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 18 September 2024 and were signed on its behalf by
E Callaghan Director Company Registration No. 12352615
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Intouch Greeting Cards Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Intouch Greeting Cards Ltd is a private company, limited by shares, registered in England and Wales, registration number 12352615. The registered office is LONGLANDS HALL, EAST END LANE, STONHAM ASPAL, SUFFOLK, IP14 6AR, 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing balance
Computer equipment
20% Reducing balance
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.
Intangible fixed assets- Goodwill
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than they carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
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.
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Intouch Greeting Cards Ltd Notes to the Accounts for the year ended 31 December 2023
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2023
32,000 
At 31 December 2023
32,000 
Amortisation
At 1 January 2023
19,200 
Charge for the year
6,400 
At 31 December 2023
25,600 
Net book value
At 31 December 2023
6,400 
At 31 December 2022
12,800 
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
1,837 
1,049 
2,886 
Additions
- 
1,209 
1,209 
At 31 December 2023
1,837 
2,258 
4,095 
Depreciation
At 1 January 2023
896 
378 
1,274 
Charge for the year
188 
376 
564 
At 31 December 2023
1,084 
754 
1,838 
Net book value
At 31 December 2023
753 
1,504 
2,257 
At 31 December 2022
941 
671 
1,612 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
- 
8,372 
Other creditors
11,500 
11,500 
Loans from directors
58,223 
51,814 
Accruals
650 
600 
70,373 
72,286 
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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