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REGISTERED NUMBER: SC515352 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Gift Round Limited

Gift Round Limited (Registered number: SC515352)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gift Round Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: C Forsythe
A M Meldrum





REGISTERED OFFICE: 49 Castleview Drive
Bridge Of Allan
Stirling
FK9 4BD





REGISTERED NUMBER: SC515352 (Scotland)





ACCOUNTANTS: Advantage Accounting (Scotland) Ltd
Pavilion 2
Finnieston Business Park
Minerva Way
Glasgow
G3 8AU

Gift Round Limited (Registered number: SC515352)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 105,739 53,002
Tangible assets 5 2,211 2,967
107,950 55,969

CURRENT ASSETS
Stocks 22,595 35,770
Debtors 6 21,234 24,681
Cash at bank 14,138 46,037
57,967 106,488
CREDITORS
Amounts falling due within one year 7 15,085 10,685
NET CURRENT ASSETS 42,882 95,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

150,832

151,772

PROVISIONS FOR LIABILITIES 8,774 -
NET ASSETS 142,058 151,772

CAPITAL AND RESERVES
Called up share capital 1 1
Share premium 103,007 103,007
Retained earnings 39,050 48,764
SHAREHOLDERS' FUNDS 142,058 151,772

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Gift Round Limited (Registered number: SC515352)

Balance Sheet - continued
30 September 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 Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:





C Forsythe - Director


Gift Round Limited (Registered number: SC515352)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Gift Round 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on 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.

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.

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.

Gift Round Limited (Registered number: SC515352)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023 85,226
Additions 68,067
At 30 September 2024 153,293
AMORTISATION
At 1 October 2023 32,224
Charge for year 15,330
At 30 September 2024 47,554
NET BOOK VALUE
At 30 September 2024 105,739
At 30 September 2023 53,002

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 8,034
Additions 1,869
Disposals (2,992 )
At 30 September 2024 6,911
DEPRECIATION
At 1 October 2023 5,067
Charge for year 3,071
Eliminated on disposal (3,438 )
At 30 September 2024 4,700
NET BOOK VALUE
At 30 September 2024 2,211
At 30 September 2023 2,967

Gift Round Limited (Registered number: SC515352)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors - 1,056
Other debtors 21,234 23,625
21,234 24,681

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 4,802 408
Taxation and social security 8,952 10,155
Other creditors 1,331 122
15,085 10,685

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
C Forsythe
Balance outstanding at start of year 472 (5,423 )
Amounts advanced 23,685 5,895
Amounts repaid (24,157 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 472