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Registered number: 12420178
Party Merchandise Direct Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
EH54 6AX
Contents
Page
Accountant's Report 1
Balance Sheet 2
Notes to the Financial Statements 3—4
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Party Merchandise Direct Limited for the year ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Party Merchandise Direct Limited for the year ended 31 March 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company's accounting records and from information and explanations you have given to us.
As a practising member of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020.
This report is made solely to the director of Party Merchandise Direct Limited , as a body, in accordance with the terms of our engagement letter dated 05 February 2020. Our work has been undertaken solely to prepare for your approval the accounts of Party Merchandise Direct Limited and state those matters that we have agreed to state to the director of Party Merchandise Direct Limited , as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/regulation-technical-resources/documents/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Party Merchandise Direct Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that Party Merchandise Direct Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Party Merchandise Direct Limited . You consider that Party Merchandise Direct Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Party Merchandise Direct Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Signed
6 August 2025
Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
EH54 6AX
Page 1
Page 2
Balance Sheet
Registered number: 12420178
2025 2024
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 100 100
Cash at bank and in hand 167,724 101,520
167,824 101,620
Creditors: Amounts Falling Due Within One Year 5 (25,688 ) (17,610 )
NET CURRENT ASSETS (LIABILITIES) 142,136 84,010
TOTAL ASSETS LESS CURRENT LIABILITIES 142,136 84,010
NET ASSETS 142,136 84,010
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 142,036 83,910
SHAREHOLDERS' FUNDS 142,136 84,010
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr G Gilhooly
Director
6 August 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Party Merchandise Direct Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12420178 . The registered office is First Floor, Templeback, 10 Temple Back, Bristol, BS1 6FL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Debtors
2025 2024
£ £
Due within one year
Other debtors 100 100
Page 3
Page 4
5. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Taxation and social security 25,688 17,610
6. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
7. Related Party Disclosures
The company operates a loan account with the director, Mr G Gilhooly. 
At the year end, the balance due from the director was £70 (2024: £70). This loan is unsecured, interest free and has no fixed repayment terms.
The company operates a loan account with the shareholder, Mr A Gardyne. 
At the year end, the balance due from the shareholder was £30 (2024: £30). This loan is unsecured, interest free and has no fixed repayment terms.
Page 4