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REGISTERED NUMBER: 03052431 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

DAMAGED GOODS RECORDS LIMITED

DAMAGED GOODS RECORDS LIMITED (REGISTERED NUMBER: 03052431)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 JULY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


DAMAGED GOODS RECORDS LIMITED

COMPANY INFORMATION
For The Year Ended 31 JULY 2024







DIRECTOR: Mr I Ballard





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 03052431 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

DAMAGED GOODS RECORDS LIMITED (REGISTERED NUMBER: 03052431)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,174 6,029

CURRENT ASSETS
Stocks 5 8,646 19,422
Debtors 6 24,363 31,861
Cash at bank and in hand 137,313 102,163
170,322 153,446
CREDITORS
Amounts falling due within one year 7 70,286 67,391
NET CURRENT ASSETS 100,036 86,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,210

92,084

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 104,110 91,984
SHAREHOLDERS' FUNDS 104,210 92,084

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 November 2024 and were signed by:





Mr I Ballard - Director


DAMAGED GOODS RECORDS LIMITED (REGISTERED NUMBER: 03052431)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 JULY 2024

1. STATUTORY INFORMATION

Damaged Goods Records 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.

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 - 25% on reducing balance
Computer equipment - 25% straight line method

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 13,212 16,355 29,567
DEPRECIATION
At 1 August 2023 10,065 13,473 23,538
Charge for year 787 1,068 1,855
At 31 July 2024 10,852 14,541 25,393
NET BOOK VALUE
At 31 July 2024 2,360 1,814 4,174
At 31 July 2023 3,147 2,882 6,029

DAMAGED GOODS RECORDS LIMITED (REGISTERED NUMBER: 03052431)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 JULY 2024

5. STOCKS
2024 2023
£    £   
Stocks 8,646 19,422

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,828 13,985
Other debtors 535 17,876
24,363 31,861

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 35,931 61,579
Amounts owed to connected companies 1,475 1,475
Taxation and social security 4,725 -
Other creditors 28,155 4,337
70,286 67,391

8. RELATED PARTY DISCLOSURES

Included in creditors, amounts falling due within one year, is an interest free amount of £1,475 (2022: £1,475) owed to Dragonfly Posters International Limited.

The two companies are connected by virtue of having Mr I Ballard as common director and also having a beneficial interest in both companies.

Included in creditors, amounts falling due within one year, is an interest free amount of £2,189 (2023: £2,085) due to the director, Mr I Ballard.

9. ULTIMATE CONTROLLING PARTY

During the year under review, the company was under the control of the director, Mr I Ballard, by virtue of his majority ownership of the issued share capital.