PHP Gift And Baby Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07922433 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

PHP Gift And Baby Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

H L Westmoreland

REGISTERED OFFICE:

Unit 10 Abbot Close

Trackside Business Centre

West Byfleet

Surrey

KT14 7JN

REGISTERED NUMBER:

07922433 (England and Wales)

ACCOUNTANTS:

Johnson Smith & Co Ltd

Chartered Accountants and Statutory Auditors

Centurion House

London Road

Staines-Upon-Thames

Surrey

TW18 4AX

CURRENT ASSETS

Stocks

5

20,202

90,205

Debtors

6

15,158

22,736

Cash at bank

2,551

3,501

37,911

116,442

CREDITORS

Amounts falling due within one year

7

521,467

506,308

NET CURRENT LIABILITIES

(483,556

)

(389,866

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(483,556

)

(389,866

)

CREDITORS

Amounts falling due after more than
one year

8

1,851

12,244

NET LIABILITIES

(485,407

)

(402,110

)

CAPITAL AND RESERVES

Called up share capital

2,000

Retained earnings

9

(487,407

)

(404,110

)

SHAREHOLDERS' FUNDS

(485,407

)

(402,110

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 December 2025 and were signed by:

H L Westmoreland - Director

1.	STATUTORY INFORMATION

PHP Gift And Baby 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures fittings and equipment

-

33% on cost

Stocks

Stocks 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 Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Revenue recognition

Revenue from sale of goods is measured at fair value of the consideration received or receivable and is recognised in the profit and loss account of the company when significant risks and rewards of the ownership of the goods have been transferred to the buyers. Revenue represents net sales of goods after allowing for trade discount, excluding value added tax.

Financial instruments

The company has established objectives concerning the holding and use of financial instruments. The key objective is to manage the financial risks faced by the company. The company reviews its capital requirement regularly to enable the company to continue as a going concern. The capital structure of the company consists of debt, which includes the company's borrowings, cash and cash equivalents and comprising issued capital and reserves. The company considers its major financial risks to be currency risk, liquidity risk, and interest rate risk and credit risk.

Going concern

The Director acknowledges the Financial Reporting Council's guidelines for Going Concern assumption. The company has support from its suppliers, a facility of invoice factoring with its bankers and private funding of its director. As a consequence, the Director believes that the company is well placed to manage its risks successfully and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus she continues to adopt the going concern basis of accounting in preparing the annual report and accounts.

Provisions

A provision is recognised where the company has a legal or constructive obligation as a result of past event and it is possible that an outflow of economic benefit would be required to settle the obligation.

Debt factoring

Where the company has transfered to the factor all significant benefits and risks relating to the debts, and has no obligation to repay the factor, the debts shall be removed from the company's balance sheet and no liability shall be shown in respect of the proceeds received from the factor. A profit or loss shall be recognised, calculated as the difference between the carrying amount of the debts and the proceeds received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 1 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

fittings

and

equipment

£

COST

At 1 April 2024

and 31 March 2025

5,500

DEPRECIATION

At 1 April 2024

and 31 March 2025

5,500

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.

STOCKS

31.3.25

31.3.24

£

Finished goods

20,202

90,205

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Other debtors

2,611

2,913

Directors' current accounts

12,547

Prepayments and accrued income

-

7,276

15,158

22,736

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

10,649

Trade creditors

22,067

24,018

Amounts owed to group undertakings

479,897

467,141

Other creditors

2,354

-

Accruals and deferred income

6,500

4,500

521,467

506,308

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31.3.25

31.3.24

£

Bank loans - 1-2 years

1,851

12,244

In June 2020, as a result of the COVID-19 pandemic outbreak the company acquired a long term bank loan of £50,000 under The UK Government backed loan scheme known as The Bounce Back Loan (BBLS). The loan repayment amount is fixed at an interest rate of 2.50% pa and repayable over 72 months.

9.

RESERVES

Retained

earnings

£

At 1 April 2024

(404,110

)

Deficit for the year

(83,297

)

At 31 March 2025

(487,407

)

10.	CAPITAL COMMITMENTS

31.3.25

31.3.24

£

Contracted but not provided for in the

financial statements

-

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

H L Westmoreland

Balance outstanding at start of year

12,547

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

12,547

12.	POST BALANCE SHEET EVENTS

There are no events since the end of the year which require disclosure in the financial statements for the year under review.

13.	ULTIMATE CONTROLLING PARTY

Throughout the period, the company was under the control of Giftpoint Limited by virtue of its ownership of 100% of ordinary share capital.