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REGISTERED NUMBER: 08966449 (England and Wales)



REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ZA ZA BAZAAR LIMITED

ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Report of the Directors 2

Independent Auditors' Report 4

Statement of Comprehensive Income 8

Statement of Financial Position 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


ZA ZA BAZAAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S S Kandola
G Dhaliwal





REGISTERED OFFICE: Westwood
27 Oaken Lanes
Codsall
Wolverhampton
WV8 2AH





REGISTERED NUMBER: 08966449 (England and Wales)





AUDITORS: BDO LLP
55 Baker Street
London
W1U 7EU

ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report with the financial statements of the Company for the year ended 31 March 2023. The Company being Za Za Bazaar Limited as single entity subsidiary of GDSK Limited.

PRINCIPAL ACTIVITY
The Company's principal activity is associated with the operation of restaurants.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

S S Kandola
G Dhaliwal

GOING CONCERN
Based on our going concern assessment, Za Za Bazaar Limited have got adequate financial resources to continue operating as a going concern for a period of at least twelve (12) months from the date of approval of these financial statements. The Company has also received a letter of support from GDSK Limited indicating that it will receive the financial and other support necessary for the Company to trade and meet its liabilities as and when they fall due for the going concern assessment period.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the Company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

AUDITORS
The auditors, BDO LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.


ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S S Kandola - Director


2 June 2025

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
ZA ZA BAZAAR LIMITED

Opinion on the financial statements

In our opinion the financial statements:


-give a true and fair view of the state of the Company's affairs as at 31 March 2024 and of its profit
for the year then ended;

-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

We have audited the financial statements of ZA ZA BAZAAR LIMITED ("the Company") for the year ended 31 March 2024 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence
We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.

Other information

The Directors are responsible for the other information. The other information comprises the information included in the Report of the Directors and Financial Statements, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.



INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
ZA ZA BAZAAR LIMITED

Other Companies Act 2006 reporting

In our opinion, based on the work undertaken in the course of the audit:


- the information given in the Directors' report for the financial year for which the financial statements
are prepared is consistent with the financial statements; and
- the Directors' report has been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


- adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or


- the Directors were not entitled to prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies' exemptions in preparing the
Directors' report and from the requirement to prepare a Strategic report.

Responsibilities of Directors

As explained more fully in the Statement of Directors' Responsibilities, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Non-compliance with laws and regulations

Based on:
- Our understanding of the Company and the industry in which it operates;
- Discussion with management and those charged with governance; and

- Obtaining an understanding of the Company's policies and procedures regarding compliance with
laws and regulations.

We considered the significant laws and regulations to be the applicable accounting framework, Companies Act 2006 and UK tax legislation.


INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
ZA ZA BAZAAR LIMITED

The Company is also subject to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigations. We identified such laws and regulations to be health and safety legislation and other employment related laws.

Our procedures in respect of the above included:
- Review of financial statement disclosures and agreeing to supporting documentation;
- Review of legal expenditure accounts to understand the nature of expenditure incurred.

- Enquiry with management and those charged with governance as to whether the Company is
compliant with laws and regulations that may have a material effect on the financial statements.

Fraud
We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:


- Enquiry with management and those charged with governance regarding any known or suspected
instances of fraud;
- Obtaining an understanding of the Company's policies and procedures relating to:
- Detecting and responding to the risks of fraud; and
- Internal controls established to mitigate risks related to fraud.

- Discussion amongst the engagement team as to how and where fraud might occur in the financial
statements; and

- Performing analytical procedures to identify any unusual or unexpected relationships that may
indicate risks of material misstatement due to fraud.

Based on our risk assessment, we considered the areas most susceptible to fraud to be revenue and management override of control.

Our procedures in respect of the above included:

- Testing a sample of journal entries throughout the year, which met a defined risk criteria, by
agreeing to supporting documentation; and

- Testing revenue recognition in total for the period using recalculations of royalties and the mark ups
applied on the provision of services to stores.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members who were all deemed to have appropriate competence and capabilities and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council's website at:
https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.















INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF
ZA ZA BAZAAR LIMITED

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Ed Green-Wilkinson (Senior Statutory Auditor)
for and on behalf of BDO LLP
London

4 June 2025


BDO LLP is a limited liability partnership registered in England and Wales (with
registered number OC305127).

ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 4 4,197,906 3,943,700

Cost of sales 3,422,432 2,870,210
GROSS PROFIT 775,474 1,073,490

Administrative expenses 482,389 484,324
293,085 589,166

Other operating income 5 - 28,400
OPERATING PROFIT 7 293,085 617,566

Interest receivable and similar income 36,400 559
329,485 618,125

Interest payable and similar expenses 8 75,661 75,661
PROFIT BEFORE TAXATION 253,824 542,464

Tax on profit 9 - -
PROFIT FOR THE FINANCIAL YEAR 253,824 542,464

ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 11 224,190 672,566
Tangible assets 12 101,651 120,732
325,841 793,298

CURRENT ASSETS
Debtors 13 3,771,109 3,266,562
Cash at bank 14 1,856,241 1,470,232
5,627,350 4,736,794
CREDITORS
Amounts falling due within one year 15 2,262,540 1,121,339
NET CURRENT ASSETS 3,364,810 3,615,455
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,690,651

4,408,753

CREDITORS
Amounts falling due after more than one
year

16

-

971,926
NET ASSETS 3,690,651 3,436,827

CAPITAL AND RESERVES
Called up share capital 19 4,701,000 4,701,000
Retained earnings 20 (1,010,349 ) (1,264,173 )
SHAREHOLDERS' FUNDS 3,690,651 3,436,827

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 2 June 2025 and were signed on its behalf by:





S S Kandola - Director


ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 4,701,000 (1,806,637 ) 2,894,363

Changes in equity
Profit for the year - 542,464 542,464
Total comprehensive income - 542,464 542,464
Balance at 31 March 2023 4,701,000 (1,264,173 ) 3,436,827

Changes in equity
Profit for the year - 253,824 253,824
Total comprehensive income - 253,824 253,824
Balance at 31 March 2024 4,701,000 (1,010,349 ) 3,690,651

ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Za Za Bazaar Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered address can be found on the Company Information page.

The functional and presentation currency of the financial statements is the Pound Sterling (£).

Amounts in these financial statements are rounded to the nearest Pound Sterling (£).

The financial statements contain information about Za Za Bazaar Limited as an individual Company. Za Za Bazaar Limited is a subsidiary of GDSK Limited, a Company registered in England and Wales.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic or Ireland":

- the requirements of Section 7 Statement of Cash Flows;
-
the requirements of Section 11 Financial Instruments paragraphs 11.41(b), 11.41(c), 11.41(e),
11.41(f), 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c).

Going concern
The directors have considered the cashflow requirements of the Company for a period of at least twelve (12) months from the date of approval of these financial statements and are satisfied that sufficient financial resources will continue to be made available and that the Company will be able to meet its debts and fund its growth as they fall due.

Historically, the Company has been highly cash generative. Current trading gives no indication to future performance being materially different from the past. In addition the Company has also received a letter of support from GDSK Limited indicating that it will receive the financial and other support necessary for the Company to trade and meet its liabilities as and when they fall due for the going concern assessment period.

The Company has a healthy and growing cash balance and therefore these financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the Company.

Summary of significant accounting policies
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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Significant judgements and estimates
In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying value of assets and liabilities. The directors' judgement, estimates and assumption are based on the best and most reliable evidence available at the time when the decisions are made and are based on historical experience and other factors that are considered to be applicable. Due to the inherent sensitivity involved in making judgements, estimate and assumptions, the actual results and outcomes may differ.

Tangible fixed assets
The directors have made key assumptions regarding the expected useful life of tangible fixed assets, these being depreciated at the rates documented in the accounting policies. The expected useful life for each asset class has been determined by the director's expectation for the store operating life and their experience of the industry.

Impairment review
At each reporting date, the Company's tangible and intangible assets are reviewed for any indications or factors of impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the assets.

For the Company to assess if the carrying amount exceeds the recoverable amount, an impairment review to calculate the value in use has been performed. The value in use review has been undertaken by calculating the present value of the future cash flows expected to be derived from the assets. The calculations of the returns expected alongside any known capital investment and working capital requirements for the Company has been prepared using forecasted revenue data from the management team. Due to the inherent sensitivity involved in making these calculations, the actual results may differ.

The directors have also made key assumptions to determine whether there are any indicators of impairment of the amounts due from related parties. Factors taken into consideration in reaching such a decision include a review of the net assets and cash position of each Company and also making appropriate enquiry of the directors of that entity.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met.

Turnover represents amounts receivable for the provision of the Company's principal activity wholly undertaken in the United Kingdom.

Sale of services
Revenue arising for restaurant services provided to the restaurant operator are recognised over the period the service relates to.

Royalties
Royalty income is based on store sales made by the service operator, these are recognised as the income is earned.

ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business in 2014.

Goodwill recognised at acquisition is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis over its useful life of 10 years.

Goodwill amortisation is included in administrative expenses in the Statement of Comprehensive Income.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses. Depreciation of a tangible fixed assets begins when it is in the location and condition necessary available for the use intended.

Tangible fixed asset depreciation is included in administrative expenses in the Statement of Comprehensive Income.

Depreciation is provided at the following annual rates in order to write of the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings-10% on cost
Plant and machinery-20% on reducing balance

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The Company operates a defined contribution pension scheme. Company contributions payable to the Company's pension scheme are charged to the statement of comprehensive income in the period to which they relate.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like intangible assets and plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the Company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Sale of services 3,071,906 2,939,700
Royalties 1,126,000 1,004,000
4,197,906 3,943,700

The turnover and profit before taxation are attributable to the principal activity wholly undertaken in the United Kingdom.

5. OTHER OPERATING INCOME
2024 2023
£    £   
Sundry receipts - 28,400

ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,420,651 2,264,430
Social security costs 165,955 138,186
Other pension costs 39,344 30,327
2,625,950 2,432,943

The average number of employees during the year was as follows:
2024 2023

Operational 156 153
Administration 1 1
Directors 2 2
159 156

2024 2023
£    £   
Directors' remuneration - -

The directors are remunerated through other Group Companies.

7. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 25,819 30,378
Goodwill amortisation 448,376 448,376
Operating lease rentals - land & buildings 333,334 247,225

8. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Loan interest 75,661 75,661

9. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 March 2024 nor for the year ended 31 March 2023.

ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 253,824 542,464
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

63,456

103,068

Effects of:
Expenses not deductible for tax purposes 11,726 143
Capital allowances in excess of depreciation (6,003 ) (4,213 )
Utilisation of tax losses (88,094 ) (105,555 )
Timing of accruals tax treatment 18,915 6,557
Total tax charge - -

The Company has approximately £0.23m (2023: £0.58m) of taxable losses carried forward.

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. Due to uncertainty concerning the recoverability of the tax losses carried forward, no deferred tax asset has been recognised.

10. AUDITORS' REMUNERATION

2024 2023
£ £

Fees payable to the Company's auditors for the audit of the
company's financial statements

9,900


8,850

11. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 4,483,769
AMORTISATION
At 1 April 2023 3,811,203
Amortisation for year 448,376
At 31 March 2024 4,259,579
NET BOOK VALUE
At 31 March 2024 224,190
At 31 March 2023 672,566

Goodwill relates to the acquisition of the trade and assets of the restaurants.

ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. TANGIBLE FIXED ASSETS
Land and Plant and
buildings machinery Totals
£    £    £   
COST
At 1 April 2023 8,500 747,378 755,878
Additions - 6,738 6,738
At 31 March 2024 8,500 754,116 762,616
DEPRECIATION
At 1 April 2023 5,879 629,267 635,146
Charge for year 850 24,969 25,819
At 31 March 2024 6,729 654,236 660,965
NET BOOK VALUE
At 31 March 2024 1,771 99,880 101,651
At 31 March 2023 2,621 118,111 120,732

13. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Amounts owed by related parties 3,409,863 3,044,804
Other debtors 99,496 84,800
Accrued income 190,500 -
Prepayments - 65,708
3,699,859 3,195,312

Amounts falling due after more than one year:
Other debtors 71,250 71,250

Aggregate amounts 3,771,109 3,266,562

14. CASH AT BANK
2024 2023
£    £   
Bank account 1,856,241 1,470,232

ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans (see note 17) 971,926 -
Trade creditors 77,335 9,935
Amounts owed to group undertakings 400,603 688,603
Amounts owed to related parties 227,161 -
Social security and other taxes 58,364 27,663
VAT 168,291 160,056
Other creditors 160,974 115
Accrued expenses 197,886 234,967
2,262,540 1,121,339

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans (see note 17) - 971,926

17. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Other loans 971,926 -

Amounts falling due between one and two years:
Other loans - 1-2 years - 971,926

Other loans bear interest at 8% above the bank of England base rate, and are repayable in full, 10 years from the date of the advance. The repayment date being September 2024. Amounts due as other loans are payable to related parties as detailed within note 22.

Other loans are unsecured.

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 97,525 125,000
Between one and five years 1,560,400 -
In more than five years 3,705,950 -
5,363,875 125,000

ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4,701,000 Ordinary £1 4,701,000 4,701,000

Each share is entitled to one vote in any circumstance. Each share has equal rights to dividends and each share is entitled to participate in a distribution arising from a wind up of the Company.

20. RESERVES
Retained
earnings
£   

At 1 April 2023 (1,264,173 )
Profit for the year 253,824
At 31 March 2024 (1,010,349 )

Called up share capital - represents the nominal value of shares that have been issued.

Retained earnings - includes all current retained profits and losses.

21. PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The assets of the scheme are held separate from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund. Contributions payable to the fund at the year end by the Company and included in other creditors are £7,764 (2023: £477).

20242023
££

Contributions payable by the Company for the year39,34430,145

22. RELATED PARTY DISCLOSURES

Companies with common directors

2024 2023
£ £
Sales to a related party 4,197,906 3,943,700
Administrative costs from a related party 82,500 -
Amounts owed by related parties 3,409,863 3,044,804
Amounts owed to related parties (99,840 ) -

The amounts shown above concern transactions with other companies in which Mr S Kandola and Mr G Dhaliwal are directors with a controlling interest.


ZA ZA BAZAAR LIMITED (REGISTERED NUMBER: 08966449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

RELATED PARTY DISCLOSURES - continued

Spinnaker Investment Management Limited

2024 2023
£ £
Loan interest from a related party 62,601 62,601

Loans owed to related party (963,090 ) (963,090 )
Amounts owed to related party (125,202 ) (62,601 )
Total amount due to related party (1,088,292 ) (1,025,691 )

The company incurs interest payable under a loan finance arrangement. Spinnaker Investment Management Limited is a company in which S Kandola is a director.

Wentworth Investment Management Limited

2024 2023
£ £
Loan interest from a related party 1,060 1,060

Loans owed to related party (8,836 ) (8,836 )
Amounts owed to related party (2,120 ) (1,060 )
Total amount due to related party (10,956 ) (9,896 )

The company incurs interest payable under a loan finance arrangement. Wentworth Investment Management Limited is a company in which G Dhaliwal is a director.

23. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S S Kandola.

ULTIMATE PARENT COMPANY

GDSK Limited is regarded by the directors as being the Company's ultimate parent Company.

A Company registered in England and Wales. The registered office is Beckwith Barn, Warren Estate, Lordship Road, Writtle, Essex, CM1 3WT.

A copy of the consolidated financial statements is available from Companies House.