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REGISTERED NUMBER: 02154542 (England and Wales)















Financial Statements for the Year Ended 30 September 2024

for

Shopgift Limited

Shopgift Limited (Registered number: 02154542)






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

Report of the Accountants 8

Shopgift Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: R C Shipton





REGISTERED OFFICE: Building 1
St. Cross Chambers
Upper Marsh Lane
Hoddesdon
Hertfordshire
EN11 8LQ





REGISTERED NUMBER: 02154542 (England and Wales)





ACCOUNTANTS: Reece & Co.
Building 1
St. Cross Chambers
Upper Marsh Lane
Hoddesdon
Hertfordshire
EN11 8LQ

Shopgift Limited (Registered number: 02154542)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 256,458 264,439
256,458 264,439

CURRENT ASSETS
Stocks 25,915 16,745
Debtors 6 8,149 8,498
Cash at bank and in hand 982 20,335
35,046 45,578
CREDITORS
Amounts falling due within one year 7 43,147 44,865
NET CURRENT (LIABILITIES)/ASSETS (8,101 ) 713
TOTAL ASSETS LESS CURRENT
LIABILITIES

248,357

265,152

PROVISIONS FOR LIABILITIES 8 30 50
NET ASSETS 248,327 265,102

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 248,227 265,002
SHAREHOLDERS' FUNDS 248,327 265,102

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 director acknowledges his 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.

Shopgift Limited (Registered number: 02154542)

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 director and authorised for issue on 30 April 2025 and were signed by:





R C Shipton - Director


Shopgift Limited (Registered number: 02154542)

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

1. STATUTORY INFORMATION

Shopgift 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.

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 represents net takings from sales of goods, excluding value added tax.

Financial Instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year) including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payable or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Judgements and key sources of estimation uncertainty

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision effects only that period, or in the period of the revision and future periods, if the revision effects both current and future periods.

The directors do not believe that there have been judgements (apart from those involving estimates) made in the process of applying the above accounting policies that have had a significant effect on amounts recognised in the financial statements.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 1991, has been written off evenly over its estimated useful life of 10 years and is now fully written off.


Shopgift Limited (Registered number: 02154542)

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

2. ACCOUNTING POLICIES - continued

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Leasehold Property - in accordance with the property
Furniture and Equipment - 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.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 81,850
AMORTISATION
At 1 October 2023
and 30 September 2024 81,850
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

Shopgift Limited (Registered number: 02154542)

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

5. TANGIBLE FIXED ASSETS
Furniture
Freehold Leasehold and Computer
property Property Equipment equipment Totals
£    £    £    £    £   
COST
At 1 October 2023
and 30 September 2024 387,509 60,545 134,613 2,133 584,800
DEPRECIATION
At 1 October 2023 124,000 60,543 133,685 2,133 320,361
Charge for year 7,750 - 231 - 7,981
At 30 September 2024 131,750 60,543 133,916 2,133 328,342
NET BOOK VALUE
At 30 September 2024 255,759 2 697 - 256,458
At 30 September 2023 263,509 2 928 - 264,439

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 679 1,335
Other debtors 7,470 7,163
8,149 8,498

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 4,183 -
Trade creditors 17,921 17,045
Tax - 1,711
Social security and other taxes 4,674 4,260
VAT 6,285 4,579
Other creditors 6,610 13,110
Creditors and Accruals 3,219 3,154
Directors' current accounts 255 1,006
43,147 44,865

8. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 30 50

Deferred
tax
£   
Balance at 1 October 2023 50
Reduction for the year (20 )
Balance at 30 September 2024 30

Shopgift Limited (Registered number: 02154542)

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

8. PROVISIONS FOR LIABILITIES - continued

Deferred taxation arises from accelerated capital allowances.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 October 2023 265,002
Deficit for the year (16,775 )
At 30 September 2024 248,227

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Mr Shipton is a significant shareholder and a director of Crosswear Trading Limited, a company which supplies stock to Shopgift Limited on normal commercial terms. In the year under review this amounted to £168,857 (2023 was £166,943).

12. RELATED PARTY DISCLOSURES

The company is controlled by it's Director who owns all the issued share capital.

Shopgift Limited

Report of the Accountants to the Director of
Shopgift Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2024 set out on pages two to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Reece & Co.
Building 1
St. Cross Chambers
Upper Marsh Lane
Hoddesdon
Hertfordshire
EN11 8LQ


30 April 2025