Registered number
05999026
Zicol Limited
Filleted Accounts
30 November 2021
Zicol Limited
Registered number: 05999026
Balance Sheet
as at 30 November 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 23,973 7,430
Current assets
Stocks - 7,340
Debtors 4 24,212 23,522
Cash at bank and in hand 28,860 15,378
53,072 46,240
Creditors: amounts falling due within one year 5 (48,769) (16,794)
Net current assets 4,303 29,446
Net assets 28,276 36,876
Capital and reserves
Called up share capital 2 2
Profit and loss account 28,274 36,874
Shareholder's funds 28,276 36,876
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 member has 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.
D Kilgallon
Director
Approved by the board on 18 August 2022
Zicol Limited
Notes to the Accounts
for the year ended 30 November 2021
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.
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:
Freehold buildings 5% straight line
Fixtures, fittings, tools and equipment 20% reducing balance
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2020 6,821 6,776 13,597
Additions 18,372 - 18,372
At 30 November 2021 25,193 6,776 31,969
Depreciation
At 1 December 2020 2,387 3,780 6,167
Charge for the year 1,230 599 1,829
At 30 November 2021 3,617 4,379 7,996
Net book value
At 30 November 2021 21,576 2,397 23,973
At 30 November 2020 4,434 2,996 7,430
4 Debtors 2021 2020
£ £
Trade debtors 24,212 23,522
5 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 20,599 -
Taxation and social security costs 8,026 3,289
Other creditors 20,144 13,505
48,769 16,794
6 Other information
Zicol Limited is a private company limited by shares and incorporated in England. Its registered office is:
85 Oakfield Road
Selly Park
Birmingham
B29 7HL
Zicol Limited 05999026 false 2020-12-01 2021-11-30 2021-11-30 VT Final Accounts March 2021 (final release) D Kilgallon No description of principal activity 05999026 2019-12-01 2020-11-30 05999026 core:WithinOneYear 2020-11-30 05999026 core:ShareCapital 2020-11-30 05999026 core:RetainedEarningsAccumulatedLosses 2020-11-30 05999026 2020-12-01 2021-11-30 05999026 bus:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 05999026 bus:AuditExemptWithAccountantsReport 2020-12-01 2021-11-30 05999026 bus:Director40 2020-12-01 2021-11-30 05999026 core:LandBuildings 2020-12-01 2021-11-30 05999026 core:PlantMachinery 2020-12-01 2021-11-30 05999026 countries:England 2020-12-01 2021-11-30 05999026 bus:FRS102 2020-12-01 2021-11-30 05999026 bus:FullAccounts 2020-12-01 2021-11-30 05999026 2021-11-30 05999026 core:WithinOneYear 2021-11-30 05999026 core:ShareCapital 2021-11-30 05999026 core:RetainedEarningsAccumulatedLosses 2021-11-30 05999026 core:LandBuildings 2021-11-30 05999026 core:PlantMachinery 2021-11-30 05999026 2020-11-30 05999026 core:LandBuildings 2020-11-30 05999026 core:PlantMachinery 2020-11-30 iso4217:GBP xbrli:pure