REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
FOR |
ZEBEDEE ASSOCIATES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
FOR |
ZEBEDEE ASSOCIATES LIMITED |
ZEBEDEE ASSOCIATES LIMITED (REGISTERED NUMBER: 03709362) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
ZEBEDEE ASSOCIATES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ZEBEDEE ASSOCIATES LIMITED (REGISTERED NUMBER: 03709362) |
STATEMENT OF FINANCIAL POSITION |
28 FEBRUARY 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
ZEBEDEE ASSOCIATES LIMITED (REGISTERED NUMBER: 03709362) |
STATEMENT OF FINANCIAL POSITION - continued |
28 FEBRUARY 2018 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the director on |
ZEBEDEE ASSOCIATES LIMITED (REGISTERED NUMBER: 03709362) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
1. | STATUTORY INFORMATION |
Zebedee Associates Limited is a |
company's registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The preparation of financial statements in conformity with FRS 102 Section 1A requires the use of certain critical |
accounting estimates. It also requires management to exercise judgement in applying the company's accounting |
policies. |
ACCOUNTING ESTIMATES AND JUDGEMENTS |
In preparing the financial statements, management were not required to make any estimates or judgements which |
may materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities. |
DIVIDENDS |
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when |
paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. |
Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable. |
TANGIBLE FIXED ASSETS |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in |
order to write off each asset over its estimated useful life. |
Furniture & Fixture - 25% on cost |
Computer equipment - 25% on cost |
TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
ZEBEDEE ASSOCIATES LIMITED (REGISTERED NUMBER: 03709362) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
2. | ACCOUNTING POLICIES - continued |
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. |
DEBTORS |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at |
fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest |
method, less any impairment. |
CASH AND CASH EQUIVALENTS |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of |
not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months |
from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of |
change in value. |
CREDITORS |
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are |
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the |
effective interest method. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ZEBEDEE ASSOCIATES LIMITED (REGISTERED NUMBER: 03709362) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
At 1 March 2017 |
Additions |
At 28 February 2018 |
Depreciation |
At 1 March 2017 |
Charge for year |
At 28 February 2018 |
Net book value |
At 28 February 2018 |
At 28 February 2017 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Taxation and social security |
Other creditors |
7. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | - | 852 |
Deferred |
tax |
£ |
Balance at 1 March 2017 |
Provided during year | ( |
) |
Balance at 28 February 2018 |
ZEBEDEE ASSOCIATES LIMITED (REGISTERED NUMBER: 03709362) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary | £0.10 | 10 | 10 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 March 2017 |
Profit for the year |
Dividends | ( |
) |
At 28 February 2018 |
10. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £32,000 (2017 - £29,000) were paid to the director . |
As at balance sheet date, there is an amount due from director, Mr Fola Basomo Sogeke of £277 (2017: £10,456 Cr). |
This is an interest free advance from company and does not have a fixed date of repayment. |
11. | CONTROLLING PARTY |
The controlling party is Mr Fola Basomo Sogeke. |