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Registration number: 01884496

Reflections (Greetings Cards & Gifts) Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Reflections (Greetings Cards & Gifts) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Reflections (Greetings Cards & Gifts) Limited

(Registration number: 01884496)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

55,764

71,924

Current assets

 

Stocks

84,906

95,243

Debtors

5

16,878

19,013

Cash at bank and in hand

 

3,430

14,859

 

105,214

129,115

Creditors: Amounts falling due within one year

6

(108,282)

(121,552)

Net current (liabilities)/assets

 

(3,068)

7,563

Total assets less current liabilities

 

52,696

79,487

Creditors: Amounts falling due after more than one year

6

(14,309)

(28,326)

Net assets

 

38,387

51,161

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

38,287

51,061

Shareholders' funds

 

38,387

51,161

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Reflections (Greetings Cards & Gifts) Limited

(Registration number: 01884496)
Balance Sheet as at 30 June 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and directors report has been taken.

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 

.........................................
Mr P Nield
Director

 

Reflections (Greetings Cards & Gifts) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
9 Pepper Street
Nantwich
Cheshire
CW5 5AB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Reflections (Greetings Cards & Gifts) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property

straight line over 10 years

Fixtures, fittings and computer equipment

10%/20% reducing balance

Improvements to leasehold

straight line over 10 years

Motor vehicles

straight line over 4 years

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 11).

 

Reflections (Greetings Cards & Gifts) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Leasehold property
£

Improvements to property
£

Fixtures, fittings and computer equipment
 £

Motor vehicles
 £

Cost or valuation

At 1 July 2023

9,961

13,913

240,810

39,703

Additions

-

-

450

-

Disposals

-

(1,006)

(36,003)

-

At 30 June 2024

9,961

12,907

205,257

39,703

Depreciation

At 1 July 2023

9,961

11,442

185,232

25,828

Charge for the year

-

2,303

5,678

6,938

Eliminated on disposal

-

(838)

(34,480)

-

At 30 June 2024

9,961

12,907

156,430

32,766

Carrying amount

At 30 June 2024

-

-

48,827

6,937

At 30 June 2023

-

2,471

55,578

13,875

Total
£

Cost or valuation

At 1 July 2023

304,387

Additions

450

Disposals

(37,009)

At 30 June 2024

267,828

Depreciation

At 1 July 2023

232,463

Charge for the year

14,919

Eliminated on disposal

(35,318)

At 30 June 2024

212,064

Carrying amount

At 30 June 2024

55,764

At 30 June 2023

71,924

 

Reflections (Greetings Cards & Gifts) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Debtors

2024
£

2023
£

Trade debtors

-

2,598

Other debtors

16,878

16,415

16,878

19,013

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Loans and borrowings

7

32,443

42,271

Trade creditors

 

30,041

43,210

Taxation and social security

 

18,450

25,506

Other creditors

 

27,348

10,565

 

108,282

121,552

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

7

14,309

28,326

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank loan

10,247

9,748

Bank overdrafts

18,441

28,234

Hire purchase

3,755

4,289

32,443

42,271

2024
£

2023
£

Non-current loans and borrowings

Bank loans

10,476

20,964

Hire purchase

3,833

7,362

14,309

28,326