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Registered number: 05962066
BAZA Retail Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05962066
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 22,430 29,211
22,430 29,211
CURRENT ASSETS
Stocks 5 46,781 50,496
Debtors 6 98,198 74,337
Cash at bank and in hand 19,083 26,952
164,062 151,785
Creditors: Amounts Falling Due Within One Year 7 (307,135 ) (263,400 )
NET CURRENT ASSETS (LIABILITIES) (143,073 ) (111,615 )
TOTAL ASSETS LESS CURRENT LIABILITIES (120,643 ) (82,404 )
Creditors: Amounts Falling Due After More Than One Year 8 (61,074 ) (109,523 )
NET LIABILITIES (181,717 ) (191,927 )
CAPITAL AND RESERVES
Called up share capital 9 100,100 100,100
Profit and Loss Account (281,817 ) (292,027 )
SHAREHOLDERS' FUNDS (181,717) (191,927)
Page 1
Page 2
For the year ending 31 October 2023 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 Oleh Hodovanets
Director
31/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
BAZA Retail Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05962066 . The registered office is Unit 8, Bankside Park Industrial Estate, 28 Thames Road, Barking, IG11 0HZ.
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. 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 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 13)
7 13
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2022 128,211 8,500 76,849 733 214,293
Additions - - 695 - 695
As at 31 October 2023 128,211 8,500 77,544 733 214,988
Depreciation
As at 1 November 2022 120,171 5,810 58,467 634 185,082
Provided during the period 2,184 672 4,596 24 7,476
As at 31 October 2023 122,355 6,482 63,063 658 192,558
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 October 2023 5,856 2,018 14,481 75 22,430
As at 1 November 2022 8,040 2,690 18,382 99 29,211
5. Stocks
2023 2022
£ £
Finished goods 46,781 50,496
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 24,835 1,716
Prepayments and accrued income 8,660 22,484
Other short term debtors 1,885 1,312
VAT control account 4,263 1,923
Amounts owed by associated companies 31,461 19,808
71,104 47,243
Due after more than one year
Deposits for premises 27,094 27,094
98,198 74,337
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 196,852 150,047
Bank loans and overdrafts 49,699 -
Other taxes and social security 12,677 14,740
Net wages 18,961 10,790
Company Credit Cards 8,717 9,011
Accruals and deferred income 1,166 678
Amounts owed to associated companies 19,063 78,134
307,135 263,400
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 35,340 97,174
Tenants deposits for premises (Long term liabilities - creditors > 1 year) 1,902 2,454
Shareholder's Loan 23,832 9,895
61,074 109,523
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100,100 100,100
Page 4