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REGISTERED NUMBER: 06525877 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Veritas Gifts Limited

Veritas Gifts Limited (Registered number: 06525877)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Veritas Gifts Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M R Platt
Mrs L L E Platt





SECRETARY: Mrs L L E Platt





REGISTERED OFFICE: Unit 7 Dunley Hill Court
Crocknorth Road
Ranmore Common
DORKING
Surrey
RH5 6SX





REGISTERED NUMBER: 06525877 (England and Wales)





ACCOUNTANTS: Bullimores LLP
Chartered Accountants
Old Printers Yard
156 South Street
Dorking
Surrey
RH4 2HF

Veritas Gifts Limited (Registered number: 06525877)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 846 355

CURRENT ASSETS
Stocks 5,998 6,787
Debtors 5 144,653 118,120
Cash at bank and in hand 457,931 441,871
608,582 566,778
CREDITORS
Amounts falling due within one year 6 402,365 355,340
NET CURRENT ASSETS 206,217 211,438
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,063

211,793

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 206,963 211,693
SHAREHOLDERS' FUNDS 207,063 211,793

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 16 December 2024 and were signed on its behalf by:





M R Platt - Director


Veritas Gifts Limited (Registered number: 06525877)

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

1. STATUTORY INFORMATION

Veritas Gifts Limited 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.

The directors have reviewed the company's financial position and performance and have concluded that the company is a going concern and the financial statements have, therefore, been prepared on that basis.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

At each reporting date, assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and an impairment loss is recognised immediately in the income statement.

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Taxation
Taxation for the year comprises current 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 taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 7 ) .

Veritas Gifts Limited (Registered number: 06525877)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023 14,804
Additions 1,248
At 31 March 2024 16,052
DEPRECIATION
At 1 April 2023 14,449
Charge for year 757
At 31 March 2024 15,206
NET BOOK VALUE
At 31 March 2024 846
At 31 March 2023 355

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 91,446 52,510
Directors' current accounts 52,945 65,610
Prepayments 262 -
144,653 118,120

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 58,300 24,036
Veritas Precious Metal Design Limited 286,888 280,740
Tax 23,139 24,442
Social security and other taxes 3,036 3,836
VAT 27,088 19,749
Other creditors 7 487
Accrued expenses 3,907 2,050
402,365 355,340

Veritas Gifts Limited (Registered number: 06525877)

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

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
M R Platt
Balance outstanding at start of year 65,384 36,491
Amounts advanced 82,882 80,987
Amounts repaid (79,200 ) (52,094 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 69,066 65,384

Mrs L L E Platt
Balance outstanding at start of year 226 226
Amounts repaid (16,346 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (16,120 ) 226