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Company Registration No. 04051850 (England and Wales)
Sensible Gifts Ltd Unaudited accounts for the year ended 31 January 2024
Sensible Gifts Ltd Unaudited accounts Contents
Page
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Sensible Gifts Ltd Company Information for the year ended 31 January 2024
Directors
P Delorde K Fannan
Company Number
04051850 (England and Wales)
Registered Office
203 West Street Fareham Hampshire PO16 0EN
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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Sensible Gifts Ltd Accountants' report
Accountants' report to the board of directors of Sensible Gifts Ltd on the preparation of the unaudited statutory accounts for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sensible Gifts Ltd for the year ended 31 January 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Sensible Gifts Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Sensible Gifts Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sensible Gifts Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Sensible Gifts Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Sensible Gifts Ltd. You consider that Sensible Gifts 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 accounts of Sensible Gifts 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 accounts.
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN 17 August 2024
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Sensible Gifts Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,438 
6,864 
Current assets
Inventories
6,000 
6,000 
Debtors
22,457 
4,302 
Cash at bank and in hand
7,697 
17,499 
36,154 
27,801 
Creditors: amounts falling due within one year
(65,276)
(15,460)
Net current (liabilities)/assets
(29,122)
12,341 
Net (liabilities)/assets
(23,684)
19,205 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(23,784)
19,105 
Shareholders' funds
(23,684)
19,205 
For the year ending 31 January 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 17 August 2024 and were signed on its behalf by
P Delorde Director Company Registration No. 04051850
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Sensible Gifts Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Sensible Gifts Ltd is a private company, limited by shares, registered in England and Wales, registration number 04051850. The registered office is 203 West Street, Fareham, Hampshire, PO16 0EN.
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:
Land & buildings
20% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 February 2023
13,342 
3,221 
15,753 
32,316 
At 31 January 2024
13,342 
3,221 
15,753 
32,316 
Depreciation
At 1 February 2023
7,610 
3,127 
14,715 
25,452 
Charge for the year
1,146 
21 
259 
1,426 
At 31 January 2024
8,756 
3,148 
14,974 
26,878 
Net book value
At 31 January 2024
4,586 
73 
779 
5,438 
At 31 January 2023
5,732 
94 
1,038 
6,864 
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Sensible Gifts Ltd Notes to the Accounts for the year ended 31 January 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
3,001 
3,062 
Other debtors
19,456 
1,240 
22,457 
4,302 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
17,663 
13,922 
Taxes and social security
6,163 
1,259 
Other creditors
41,450 
279 
65,276 
15,460 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
98 Ordinary shares A of £1 each
98 
98 
100 
100 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
P Delorde
Director Loan Account
26,291 
(254)
(10,541)
36,578 
K Fannan
Director Loan Account
(26,291)
(4,254)
(7,586)
(22,959)
- 
(4,508)
(18,127)
13,619 
9
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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