Silverfin false false 30/04/2025 01/05/2024 30/04/2025 Julie West 30/09/2006 02 December 2025 The principal activity of the company continued to be that of retailers of gifts, cards and confectionery. SC235436 2025-04-30 SC235436 bus:Director1 2025-04-30 SC235436 2024-04-30 SC235436 core:CurrentFinancialInstruments 2025-04-30 SC235436 core:CurrentFinancialInstruments 2024-04-30 SC235436 core:ShareCapital 2025-04-30 SC235436 core:ShareCapital 2024-04-30 SC235436 core:RetainedEarningsAccumulatedLosses 2025-04-30 SC235436 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC235436 core:LandBuildings 2024-04-30 SC235436 core:OtherPropertyPlantEquipment 2024-04-30 SC235436 core:LandBuildings 2025-04-30 SC235436 core:OtherPropertyPlantEquipment 2025-04-30 SC235436 bus:OrdinaryShareClass1 2025-04-30 SC235436 2024-05-01 2025-04-30 SC235436 bus:FilletedAccounts 2024-05-01 2025-04-30 SC235436 bus:SmallEntities 2024-05-01 2025-04-30 SC235436 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 SC235436 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 SC235436 bus:Director1 2024-05-01 2025-04-30 SC235436 core:LandBuildings core:TopRangeValue 2024-05-01 2025-04-30 SC235436 core:OtherPropertyPlantEquipment 2024-05-01 2025-04-30 SC235436 2023-05-01 2024-04-30 SC235436 core:LandBuildings 2024-05-01 2025-04-30 SC235436 bus:OrdinaryShareClass1 2024-05-01 2025-04-30 SC235436 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC235436 (Scotland)

# THE GIFT BOUTIQUE LTD.

### Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

THE GIFT BOUTIQUE LTD.

## Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

THE GIFT BOUTIQUE LTD.

## BALANCE SHEET

As at 30 April 2025
THE GIFT BOUTIQUE LTD.

## BALANCE SHEET (continued)

As at 30 April 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 3,301 |  | 5,136
Investment property | 4 | 110,000 |  | 110,000
|  | 113,301 |  | 115,136
Current assets |  |  |  |
Stocks |  | 62,500 |  | 59,800
Debtors | 5 | 362 |  | 1,005
Cash at bank and in hand |  | 142,625 |  | 188,302
|  | 205,487 |  | 249,107
Creditors: amounts falling due within one year | 6 | ( 23,523) |  | ( 62,412)
Net current assets |  | 181,964 |  | 186,695
Total assets less current liabilities |  | 295,265 |  | 301,831
Provision for liabilities |  | ( 613) |  | ( 1,267)
Net assets |  | 294,652 |  | 300,564
Capital and reserves |  |  |  |
Called-up share capital | 7 | 100 |  | 100
Profit and loss account |  | 294,552 |  | 300,464
Total shareholders' funds |  | 294,652 |  | 300,564

For the financial year ending 30 April 2025 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 financial year 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 financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of The Gift Boutique Ltd. (registered number: SC235436) were approved and authorised for issue by the Director on 02 December 2025. They were signed on its behalf by:

Julie West Director |

THE GIFT BOUTIQUE LTD.

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
THE GIFT BOUTIQUE LTD.

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

The Gift Boutique Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the company's registered office is 36 Cross Street, Fraserburgh, Aberdeenshire, AB43 9EQ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for at least twelve months from the date of signing the financial statements. Thus the director has continued to adopt the going concern basis of accounting in preparing the financial statements.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 5 years straight line
Plant and machinery etc. | 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including the director | 6 |  | 7

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery etc. |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 May 2024 | 15,856 |  | 52,915 |  | 68,771
Additions | 0 |  | 324 |  | 324
Disposals | 0 |  | ( 8,299) |  | ( 8,299)
At 30 April 2025 | 15,856 |  | 44,940 |  | 60,796
Accumulated depreciation |  |  |  |  |
At 01 May 2024 | 15,856 |  | 47,779 |  | 63,635
Charge for the financial year | 0 |  | 1,277 |  | 1,277
Disposals | 0 |  | ( 7,417) |  | ( 7,417)
At 30 April 2025 | 15,856 |  | 41,639 |  | 57,495
Net book value |  |  |  |  |
At 30 April 2025 | 0 |  | 3,301 |  | 3,301
At 30 April 2024 | 0 |  | 5,136 |  | 5,136

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 May 2024 | 110,000
As at 30 April 2025 | 110,000

Investment property comprises a residential property. The director revalued the investment property at an open market value of £110,000 at 30 April 2025.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

| 2025 |  | 2024
| £ |  | £
Historic cost | 155,415 |  | 155,415

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Other debtors | 362 |  | 1,005

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 4,659 |  | 7,612
Corporation tax | 3,720 |  | 21,492
Other taxation and social security | 4,712 |  | 2,303
Other creditors | 10,432 |  | 31,005
| 23,523 |  | 62,412

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 8. Related party transactions

As at 30 April 2025 the company was due the director £7,711 (2024 - £27,748). The loan is interest free with no set repayment terms.