Gadgets and Gaming Limited - Filleted accounts

Registered number

05160417

Gadgets and Gaming Limited

Filleted Accounts

31 March 2026

Gadgets and Gaming Limited
Registered number:		05160417
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Intangible assets	3		4,000			8,000
Tangible assets	4		148,238			167,988
			152,238			175,988

Current assets
Stocks		223,204			233,003
Debtors	5	283,045			138,918
Bank		303,250			362,843
Cash		12,438			14,894
		821,937			749,658

Creditors: amounts falling due within one year	6	(374,580)			(368,819)

Net current assets			447,357			380,839

Total assets less current liabilities			599,595			556,827

Creditors: amounts falling due after more than one year	7		-			(26,469)

Net assets			599,595			530,358

Capital and reserves
Called up share capital			1,000			1,000
Profit and loss account			598,595			529,358

Shareholders' funds			599,595			530,358

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



Mr. Kasim Ali
Director
Approved by the board on 15 September 2026

Gadgets and Gaming Limited
Notes to the Accounts
for the year ended 31 March 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold land and buildings			8 - 10 years straight line
	Plant and machinery			25% reducing balance
	Fixtures, fittings, tools and equipment			25% reducing balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.




	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2026		2025
Number							Number

	Average number of persons employed by the company					41		41


3	Intangible fixed assets							£
	Franchise Cost:

	Cost
	At 1 April 2025							20,000
	At 31 March 2026							20,000

	Amortisation
	At 1 April 2025							12,000
	Provided during the year							4,000
	At 31 March 2026							16,000

	Net book value
	At 31 March 2026							4,000
	At 31 March 2025							8,000

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.






4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2025	31,429		621,865		93,553		746,847
	Additions	5,000		12,519		-		17,519
	At 31 March 2026	36,429		634,384		93,553		764,366

	Depreciation
	At 1 April 2025	-		537,930		40,929		578,859
	Charge for the year	-		24,113		13,156		37,269
	At 31 March 2026	-		562,043		54,085		616,128

	Net book value
	At 31 March 2026	36,429		72,341		39,468		148,238
	At 31 March 2025	31,429		83,935		52,624		167,988


5	Debtors					2026		2025
£							£

	Trade debtors					-		1,375
	Other debtors					283,045		137,543
						283,045		138,918


6	Creditors: amounts falling due within one year					2026		2025
£							£

	Bank loans and overdrafts					16,745		22,297
	Trade creditors					80,911		46,865
	Taxation and social security costs					79,132		108,924
	Other creditors					197,792		190,733
						374,580		368,819


7	Creditors: amounts falling due after one year					2026		2025
£							£

	Bank loans					-		26,469






8	Other information

	Gadgets and Gaming Limited is a private company limited by shares and incorporated in England. Its registered office is:
	1st Floor 33 George Street
	Croydon
	England
	CR0 1LB