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Registered number: 02875157
Servegift Limited
Financial Statements
For The Year Ended 31 March 2025
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02875157
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 15,000 20,000
Tangible Assets 5 3,329 4,512
18,329 24,512
CURRENT ASSETS
Stocks 6 455,512 452,753
Debtors 7 81,026 63,338
Cash at bank and in hand 2,352 3,657
538,890 519,748
Creditors: Amounts Falling Due Within One Year 8 (500,593 ) (480,054 )
NET CURRENT ASSETS (LIABILITIES) 38,297 39,694
TOTAL ASSETS LESS CURRENT LIABILITIES 56,626 64,206
Creditors: Amounts Falling Due After More Than One Year 9 (23,150 ) (28,704 )
NET ASSETS 33,476 35,502
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 33,376 35,402
SHAREHOLDERS' FUNDS 33,476 35,502
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Page 2
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 D Myers
Director
23/12/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Servegift Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02875157 . The registered office is 70 Hatton Garden, London, EC1N 8JT.
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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. 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: 4 (2024: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 25,000
As at 31 March 2025 25,000
Amortisation
As at 1 April 2024 5,000
Provided during the period 5,000
As at 31 March 2025 10,000
Net Book Value
As at 31 March 2025 15,000
As at 1 April 2024 20,000
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 3,999 2,250 6,249
Additions 214 291 505
As at 31 March 2025 4,213 2,541 6,754
Depreciation
As at 1 April 2024 1,000 737 1,737
Provided during the period 1,053 635 1,688
As at 31 March 2025 2,053 1,372 3,425
Net Book Value
As at 31 March 2025 2,160 1,169 3,329
As at 1 April 2024 2,999 1,513 4,512
6. Stocks
2025 2024
£ £
Finished goods 455,512 452,753
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 32,580 34,048
Other debtors 48,446 29,290
81,026 63,338
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 188,147 331,893
Bank loans and overdrafts 51,568 24,863
Other loans 3,000 -
Other creditors 240,482 79,978
Taxation and social security 17,396 43,320
500,593 480,054
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9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 23,150 28,704
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
11. Dividends
2025 2024
£ £
On equity shares:
Final dividend paid 4,416 56,000
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