REGISTERED NUMBER: 02255635 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2025

for

Bright Ideas Business Gifts Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R P Gardiner

REGISTERED OFFICE:

Unit 2 Oaksey Road

Poole Keynes

Cirencester

GL7 6EA

REGISTERED NUMBER:

02255635 (England and Wales)

FIXED ASSETS

Intangible assets

4

69,528

104,376

Tangible assets

5

1,442

2,061

70,970

106,437

CURRENT ASSETS

Stocks

74,486

99,034

Debtors

6

234,175

233,745

Cash at bank

10,594

17,170

319,255

349,949

CREDITORS

Amounts falling due within one year

7

290,123

301,439

NET CURRENT ASSETS

29,132

48,510

TOTAL ASSETS LESS CURRENT LIABILITIES

100,102

154,947

CREDITORS

Amounts falling due after more than one year

8

(68,000

)

(91,265

)

PROVISIONS FOR LIABILITIES

(361

)

(515

)

NET ASSETS

31,741

63,167

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

31,641

63,067

31,741

63,167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 July 2026 and were signed by:

Mr R P Gardiner - Director

1.	STATUTORY INFORMATION

Bright Ideas Business Gifts 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

£

£

COST

At 1 December 2024

and 30 November 2025

819,482

500

819,982

AMORTISATION

At 1 December 2024

715,237

369

715,606

Amortisation for year

34,748

100

34,848

At 30 November 2025

749,985

469

750,454

NET BOOK VALUE

At 30 November 2025

69,497

31

69,528

At 30 November 2024

104,245

131

104,376

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 December 2024

18,247

1,734

19,981

Disposals

-

(1,734

)

(1,734

)

At 30 November 2025

18,247

-

18,247

DEPRECIATION

At 1 December 2024

16,550

1,370

17,920

Charge for year

255

-

255

Eliminated on disposal

-

(1,370

)

(1,370

)

At 30 November 2025

16,805

-

16,805

NET BOOK VALUE

At 30 November 2025

1,442

-

1,442

At 30 November 2024

1,697

364

2,061

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

227,572

212,308

Amounts owed by group undertakings

459

12,234

Other debtors

-

2,160

Social security and other tax

-

979

Prepayments and accrued income

6,144

6,064

234,175

233,745

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

32,594

24,624

Trade creditors

65,138

90,595

Amounts owed to group undertakings

195

9,029

Corporation tax

654

-

Social security and other taxes

1,041

-

VAT

30,907

24,889

Other creditors

12,652

13,115

Directors' current accounts

135,192

135,214

Accruals and deferred income

11,750

3,973

290,123

301,439

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

-

11,265

Other creditors

68,000

80,000

68,000

91,265

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2025 and 30 November 2024:

2025

2024

£

£

Mr R P Gardiner

Balance outstanding at start of year

(135,214

)

(5

)

Amounts advanced

22

-

Amounts repaid

-

(135,209

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(135,192

)

(135,214

)