Razmatazz Geek Merchandise Limited 10856710 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the retailing of merchandise. Digita Accounts Production Advanced 6.30.9574.0 true true 10856710 2023-04-01 2024-03-31 10856710 2024-03-31 10856710 bus:OrdinaryShareClass1 2024-03-31 10856710 core:CurrentFinancialInstruments 2024-03-31 10856710 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10856710 core:FurnitureFittings 2024-03-31 10856710 core:OfficeEquipment 2024-03-31 10856710 core:PlantMachinery 2024-03-31 10856710 bus:SmallEntities 2023-04-01 2024-03-31 10856710 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10856710 bus:FilletedAccounts 2023-04-01 2024-03-31 10856710 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10856710 bus:RegisteredOffice 2023-04-01 2024-03-31 10856710 bus:Director1 2023-04-01 2024-03-31 10856710 bus:Director2 2023-04-01 2024-03-31 10856710 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10856710 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10856710 bus:Agent1 2023-04-01 2024-03-31 10856710 core:FurnitureFittings 2023-04-01 2024-03-31 10856710 core:OfficeEquipment 2023-04-01 2024-03-31 10856710 core:PlantMachinery 2023-04-01 2024-03-31 10856710 countries:England 2023-04-01 2024-03-31 10856710 2023-03-31 10856710 core:FurnitureFittings 2023-03-31 10856710 core:OfficeEquipment 2023-03-31 10856710 core:PlantMachinery 2023-03-31 10856710 2022-04-01 2023-03-31 10856710 2023-03-31 10856710 bus:OrdinaryShareClass1 2023-03-31 10856710 core:CurrentFinancialInstruments 2023-03-31 10856710 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10856710 core:FurnitureFittings 2023-03-31 10856710 core:OfficeEquipment 2023-03-31 10856710 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10856710

Razmatazz Geek Merchandise
Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

FRS 102 1A Filleted

 

Razmatazz Geek Merchandise Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Razmatazz Geek Merchandise Limited

Company Information

Directors

K Moore

J Moore

Registered office

Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

Bankers

NatWest Bank Plc
76 St. Thomas Street
Weymouth
Dorset
DT4 8HU

Accountants

Kennedy Legg
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Razmatazz Geek Merchandise Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Razmatazz Geek Merchandise Limited for the year ended 31 March 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at:
https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Razmatazz Geek Merchandise Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Razmatazz Geek Merchandise Limited and state those matters that we have agreed to state to the Board of Directors of Razmatazz Geek Merchandise Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at:
http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/october/factsheet-163-
audit-exempt-companies.html.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Razmatazz Geek Merchandise Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Razmatazz Geek Merchandise Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Razmatazz Geek Merchandise Limited. You consider that Razmatazz Geek Merchandise Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Razmatazz Geek Merchandise Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Kennedy Legg
 
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

6 August 2024

 

Razmatazz Geek Merchandise Limited

(Registration number: 10856710)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,018

5,528

Current assets

 

Stocks

5

90,659

87,173

Debtors

6

536

2,719

Cash at bank and in hand

 

136,731

109,651

 

227,926

199,543

Creditors: Amounts falling due within one year

7

(52,839)

(36,523)

Net current assets

 

175,087

163,020

Total assets less current liabilities

 

180,105

168,548

Provisions for liabilities

(1,330)

(1,465)

Net assets

 

178,775

167,083

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

178,675

166,983

Shareholders' funds

 

178,775

167,083

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Razmatazz Geek Merchandise Limited

(Registration number: 10856710)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 6 August 2024 and signed on its behalf by:
 

.........................................
K Moore
Director

 

Razmatazz Geek Merchandise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

The principal place of business is:
18 St Alban Street
Weymouth
Dorset
DT4 8BZ

These financial statements were authorised for issue by the Board on 6 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Razmatazz Geek Merchandise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance basis

Plant and machinery

20% reducing balance basis

Office equipment

20% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Razmatazz Geek Merchandise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 4).

 

Razmatazz Geek Merchandise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

7,785

1,608

3,038

12,431

Additions

-

-

833

833

Disposals

-

-

(666)

(666)

At 31 March 2024

7,785

1,608

3,205

12,598

Depreciation

At 1 April 2023

4,849

807

1,247

6,903

Charge for the year

440

160

470

1,070

Eliminated on disposal

-

-

(393)

(393)

At 31 March 2024

5,289

967

1,324

7,580

Carrying amount

At 31 March 2024

2,496

641

1,881

5,018

At 31 March 2023

2,936

801

1,791

5,528

5

Stocks

2024
£

2023
£

Other inventories

90,659

87,173

6

Debtors

Current

2024
£

2023
£

Prepayments

521

662

Other debtors

15

2,057

 

536

2,719

 

Razmatazz Geek Merchandise Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,037

2,711

Taxation and social security

13,548

10,883

Accruals and deferred income

1,871

1,936

Other creditors

34,383

20,993

52,839

36,523

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

ordinary share of £1 each

100

100

100

100