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Registered number: 13855664
Random Collectables South West Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Advoco (SW) Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13855664
31 January 2024 31 January 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 51,365 -
51,365 -
CURRENT ASSETS
Stocks 5 47,750 34,250
Debtors 6 6,503 729
Cash at bank and in hand - 3,192
54,253 38,171
Creditors: Amounts Falling Due Within One Year 7 (103,590 ) (38,628 )
NET CURRENT ASSETS (LIABILITIES) (49,337 ) (457 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,028 (457 )
Creditors: Amounts Falling Due After More Than One Year 8 (2,517 ) -
NET LIABILITIES (489 ) (457 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (589 ) (557 )
SHAREHOLDERS' FUNDS (489) (457)
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For the year ending 31 January 2024 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 Robin Cross
Director
15 April 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Random Collectables South West Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13855664 . The registered office is 14a Albany Road, Weymouth, Dorset, DT4 9TH.
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. Going Concern Disclosure
The Financial Statements have been prepared on a Going Concern basis because of the continued support of the Director of the company.
2.3. 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.
2.4. 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:
Plant & Machinery 15% on reducing balance
Fixtures & Fittings 15% on reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
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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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2023 - - -
Additions 84,511 833 85,344
Disposals (29,895 ) - (29,895 )
As at 31 January 2024 54,616 833 55,449
Depreciation
As at 1 February 2023 - - -
Provided during the period 4,075 21 4,096
Disposals (12 ) - (12 )
As at 31 January 2024 4,063 21 4,084
Net Book Value
As at 31 January 2024 50,553 812 51,365
As at 1 February 2023 - - -
5. Stocks
31 January 2024 31 January 2023
£ £
Stock 47,750 34,250
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6. Debtors
31 January 2024 31 January 2023
£ £
Due within one year
Prepayments and accrued income 6,503 -
VAT - 729
6,503 729
7. Creditors: Amounts Falling Due Within One Year
31 January 2024 31 January 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,441 -
Bank loans and overdrafts 1,126 -
VAT 2,091 -
Accrued expenses 1,510 1,100
Director's loan account 95,422 37,528
103,590 38,628
8. Creditors: Amounts Falling Due After More Than One Year
31 January 2024 31 January 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,517 -
2,517 -
9. Obligations Under Finance Leases and Hire Purchase
31 January 2024 31 January 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,441 -
Later than one year and not later than five years 2,517 -
5,958 -
5,958 -
10. Share Capital
31 January 2024 31 January 2023
Allotted, called up but not fully paid £ £
100 Ordinary A shares of £ 1.00 each 100 100
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