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Logo On Report
Registered Number: 11047943
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 30 November 2024

for

GIFTZIE LTD

Director Neil Robert Emms
Registered Number 11047943
Registered Office 29 Eastern Way
Bury St Edmunds
IP32 7PR
Accountants Quove Accounting Ltd
3 Brickfields Business Park
Old Stowmarket Road, Woolpit
Bury St Edmunds
IP30 9QS
1
  2024   2023
    £ £   £ £
Fixed assets   8,035      5,316 
Current assets 149,126      118,288   
Prepayments and accrued income 2,166      468   
Creditors: amount falling due within one year (55,276)     (41,030)  
Net current assets   96,016      77,726 
Total assets less current liabilities   104,051      83,042 
Creditors: amount falling due after more than one year   (11,250)     (18,750)
Net assets   92,801      64,292 
 

         
Capital and reserves   92,801      64,292 
 
NOTES TO THE ACCOUNTS

General Information
Giftzie Ltd is a private company, limited by shares, registered in England and Wales, registration number 11047943, registration address 29 Eastern Way, Bury St Edmunds, IP32 7PR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the capitalised as fixed assets and written off over a four year straight line basis
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Development expenditures
Research and development expenditure is charged to the income statement in the period in which it is incurred. However, where the directors are satisfied as to the technical, commercial and financial viability of individual projects, development expenditure is deferred and amortised over 5 years during which the company is expected to benefit.
2.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 December 2023 7,123    7,123 
Additions 6,000    6,000 
Disposals  
At 30 November 2024 13,123    13,123 
Amortisation
At 01 December 2023 1,807    1,807 
Charge for year 3,281    3,281 
On disposals  
At 30 November 2024 5,088    5,088 
Net book values
At 30 November 2024 8,035    8,035 
At 30 November 2023 5,316    5,316 


3.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).

4.

Related parties

During the year the company entered into the following transactions with related parties:
Amount due from/to related party Provision for doubtful debt from the related party
2024
£
 2023
£
 2024
£
 2023
£
W3 Tech Ltd(9,785)(12,025)


For the year ended 30 November 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 accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 31 January 2025 and were signed by:


--------------------------------
Neil Robert Emms
Director
2