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REGISTERED NUMBER: 04797703 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

GIFTS & GIGGLES LIMITED

GIFTS & GIGGLES LIMITED (REGISTERED NUMBER: 04797703)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GIFTS & GIGGLES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr C D Horwill
Mrs P M Horwill
Mr J K Horwill
Mrs D E Morris





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 04797703 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

GIFTS & GIGGLES LIMITED (REGISTERED NUMBER: 04797703)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 155
Property, plant and equipment 5 12,686 13,365
12,686 13,520

CURRENT ASSETS
Inventories 27,500 25,250
Debtors 6 7,663 586
Cash at bank and in hand 3,991 12,063
39,154 37,899
CREDITORS
Amounts falling due within one year 7 28,735 24,268
NET CURRENT ASSETS 10,419 13,631
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,105

27,151

CREDITORS
Amounts falling due after more than one year 8 (13,956 ) (16,598 )

PROVISIONS FOR LIABILITIES 9 (2,911 ) (3,289 )
NET ASSETS 6,238 7,264

CAPITAL AND RESERVES
Called up share capital 10 165 165
Retained earnings 6,073 7,099
SHAREHOLDERS' FUNDS 6,238 7,264

GIFTS & GIGGLES LIMITED (REGISTERED NUMBER: 04797703)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:





Mrs P M Horwill - Director


GIFTS & GIGGLES LIMITED (REGISTERED NUMBER: 04797703)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Gifts & Giggles 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

STOCKS
Inventories 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

GIFTS & GIGGLES LIMITED (REGISTERED NUMBER: 04797703)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 July 2023
and 30 June 2024 9,300
Amortisation
At 1 July 2023 9,145
Amortisation for year 155
At 30 June 2024 9,300
Net book value
At 30 June 2024 -
At 30 June 2023 155

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 July 2023 6,077 3,214 13,995 2,175 25,461
Additions - 2,939 - - 2,939
At 30 June 2024 6,077 6,153 13,995 2,175 28,400
Depreciation
At 1 July 2023 2,787 892 6,943 1,474 12,096
Charge for year 823 637 1,763 395 3,618
At 30 June 2024 3,610 1,529 8,706 1,869 15,714
Net book value
At 30 June 2024 2,467 4,624 5,289 306 12,686
At 30 June 2023 3,290 2,322 7,052 701 13,365

GIFTS & GIGGLES LIMITED (REGISTERED NUMBER: 04797703)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,850 586
Other debtors 5,813 -
7,663 586

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,105 3,105
Trade creditors 2,736 2,584
Taxation and social security 4,569 4,332
Other creditors 18,325 14,247
28,735 24,268

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,956 16,598

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,535 4,177

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,911 3,289

Deferred
tax
£   
Balance at 1 July 2023 3,289
Credit to Statement of Income and Retained Earnings during year (378 )
Balance at 30 June 2024 2,911

GIFTS & GIGGLES LIMITED (REGISTERED NUMBER: 04797703)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
165 Ordinary shares £1 165 165