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REGISTERED NUMBER: SC371706 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

KAGA Gifts Limited

KAGA Gifts Limited (Registered number: SC371706)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KAGA Gifts Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: A Forbes





REGISTERED OFFICE: Drumminor
Woodhead of Fyvie
Turriff
Aberdeenshire
AB53 8LT





REGISTERED NUMBER: SC371706 (Scotland)





ACCOUNTANTS: Add Accountancy Limited
6 Market Square
Oldmeldrum
Aberdeenshire
AB51 0AA

KAGA Gifts Limited (Registered number: SC371706)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 139,405 140,049

CURRENT ASSETS
Cash at bank 749 177

CREDITORS
Amounts falling due within one year 5 152,702 159,364
NET CURRENT LIABILITIES (151,953 ) (159,187 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(12,548

)

(19,138

)

CREDITORS
Amounts falling due after more than one year 6 25,790 25,790
NET LIABILITIES (38,338 ) (44,928 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (38,438 ) (45,028 )
SHAREHOLDERS' FUNDS (38,338 ) (44,928 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

KAGA Gifts Limited (Registered number: SC371706)

Balance Sheet - continued
31 January 2024


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 29 October 2024 and were signed by:





A Forbes - Director


KAGA Gifts Limited (Registered number: SC371706)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

KAGA Gifts Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 3 ) .

KAGA Gifts Limited (Registered number: SC371706)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2023
and 31 January 2024 113,017 24,454 14,910 748 153,129
DEPRECIATION
At 1 February 2023 - - 12,362 718 13,080
Charge for year - - 637 7 644
At 31 January 2024 - - 12,999 725 13,724
NET BOOK VALUE
At 31 January 2024 113,017 24,454 1,911 23 139,405
At 31 January 2023 113,017 24,454 2,548 30 140,049

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other loans 65,200 -
Bank mortgage - 74,475
Trade creditors - 949
Social security and other taxes 386 -
VAT - 45
Other creditors 5,000 -
Directors' current accounts 82,116 83,895
152,702 159,364

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Other loans - 1-2 years 25,790 25,790