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Company Registration No. 04304062 (England and Wales)
1St Souvenirs Limited Unaudited accounts for the year ended 31 March 2024
1St Souvenirs Limited Unaudited accounts Contents
Page
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1St Souvenirs Limited Company Information for the year ended 31 March 2024
Director
Krishanlal Halai
Secretary
Kirit Halai
Company Number
04304062 (England and Wales)
Registered Office
3rd Floor Vyman House 104 College Road Harrow Middlesex HA1 1BQ
Accountants
RMR Partnership LLP 3rd Floor, Vyman House 104 College Road Harrow Middlesex HA1 1BQ
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1St Souvenirs Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
127,122 
127,554 
Current assets
Inventories
3,517 
6,196 
Debtors
115,933 
112,374 
Cash at bank and in hand
40,283 
14,856 
159,733 
133,426 
Creditors: amounts falling due within one year
(168,000)
(170,927)
Net current liabilities
(8,267)
(37,501)
Total assets less current liabilities
118,855 
90,053 
Creditors: amounts falling due after more than one year
(20,724)
(24,382)
Net assets
98,131 
65,671 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
98,130 
65,670 
Shareholders' funds
98,131 
65,671 
For the year ending 31 March 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 director acknowledges his 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 and authorised for issue on 27 December 2024 and were signed on its behalf by
Krishanlal Halai Director Company Registration No. 04304062
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1St Souvenirs Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
1St Souvenirs Limited is a private company, limited by shares, registered in England and Wales, registration number 04304062. The registered office is 3rd Floor Vyman House, 104 College Road, Harrow, Middlesex, HA1 1BQ.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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:
Fixtures & fittings
20% as per reducing balance method
Computer equipment
33% as per Straight Line Method
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1St Souvenirs Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
126,400 
404 
1,132 
127,936 
At 31 March 2024
126,400 
404 
1,132 
127,936 
Depreciation
At 1 April 2023
- 
130 
252 
382 
Charge for the year
- 
55 
377 
432 
At 31 March 2024
- 
185 
629 
814 
Net book value
At 31 March 2024
126,400 
219 
503 
127,122 
At 31 March 2023
126,400 
274 
880 
127,554 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
5,379 
5,335 
Other debtors
110,554 
107,039 
115,933 
112,374 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
4,335 
4,335 
VAT
14,078 
6,031 
Trade creditors
10,502 
12,145 
Taxes and social security
18,826 
10,193 
Other creditors
37,500 
55,089 
Loans from directors
79,964 
80,184 
Accruals
2,795 
2,950 
168,000 
170,927 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
20,724 
24,382 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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