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Registered Number: 09070594


 

 

 

REAL GIFT LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 67,548    1,292 
67,548    1,292 
Current assets      
Stocks 233,380    210,105 
Debtors: amounts falling due within one year 56,126    35,027 
Cash at bank and in hand (12,270)   13,026 
277,236    258,158 
Creditors: amount falling due within one year (109,275)   (92,710)
Net current assets 167,961    165,448 
 
Total assets less current liabilities 235,509    166,740 
Creditors: amount falling due after more than one year (134,883)   (115,656)
Net assets 100,626    51,084 
 

Capital and reserves
     
Called up share capital 4 1,000    1,000 
Profit and loss account 99,626    50,084 
Shareholders' funds 100,626    51,084 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 31 October 2024 and were signed on its behalf by:


-------------------------------
Rafeeque OLIKKATHODI
Director
-------------------------------
Jimsanath Keyath
Director
1
General Information
REAL GIFT LIMITED is a private company, limited by shares, registered in , registration number 09070594, registration address 20-21B THE COLONNADES ALBERT DOCK, LIVERPOOL , L3 4AA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Basis of Preparation
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 February 2023   3,988    957    4,945 
Additions 69,407        69,407 
Disposals      
At 31 January 2024 69,407    3,988    957    74,352 
Depreciation
At 01 February 2023   3,414    240    3,654 
Charge for year 2,892    115    143    3,150 
On disposals      
At 31 January 2024 2,892    3,529    383    6,804 
Net book values
Closing balance as at 31 January 2024 66,515    459    574    67,548 
Opening balance as at 01 February 2023   574    718    1,292 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

2