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COMPANY REGISTRATION NUMBER: 14078916
METAVERSE GIFTS LIMITED
Filleted Unaudited Financial Statements
30 April 2024
METAVERSE GIFTS LIMITED
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Current assets
Stocks
21,520
Debtors
4
78,760
100
Cash at bank and in hand
2,899
---------
----
103,179
100
Creditors: amounts falling due within one year
5
43,150
---------
----
Net current assets
60,029
100
--------
----
Total assets less current liabilities
60,029
100
Creditors: amounts falling due after more than one year
6
60,700
--------
----
Net (liabilities)/assets
( 671)
100
--------
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 771)
----
----
Shareholders (deficit)/funds
( 671)
100
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
METAVERSE GIFTS LIMITED
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 28 May 2025 , and are signed on behalf of the board by:
Saqib Sadruddin
Director
Company registration number: 14078916
METAVERSE GIFTS LIMITED
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 142 Peascod Street, Windsor, United Kingdom, SL4 1DS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Debtors
2024
2023
£
£
Other debtors
78,760
100
--------
----
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
41,350
Other creditors
1,800
--------
----
43,150
--------
----
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
60,700
--------
----
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Saqib Sadruddin
5,830
5,830
----
-------
-------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Saqib Sadruddin
----
----
----
8. Related party transactions
The company was under the control of Saqib Sadruddin throughout the current year. Saqib Sadruddin is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.