Company Registration No. 09453485 (England and Wales)
Zlick Ltd
Unaudited accounts
for the year ended 28 February 2023
Zlick Ltd
Unaudited accounts
Contents
Zlick Ltd
Company Information
for the year ended 28 February 2023
Directors
Niroshan Balasubramaniam
Erki Koldits
Mari-Liis Ruutsalu
Christian Schroder
Company Number
09453485 (England and Wales)
Registered Office
2.05 12-18 Hoxton Street
London
N1 6NG
United Kingdom
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
Zlick Ltd
Statement of financial position
as at 28 February 2023
Tangible assets
4,125
8,358
Cash at bank and in hand
511,317
455,274
Creditors: amounts falling due within one year
(591,760)
(196,104)
Net current assets
187,256
495,179
Total assets less current liabilities
191,381
503,537
Creditors: amounts falling due after more than one year
-
(392,406)
Provisions for liabilities
Other provisions
(5,900)
3,099
Net assets
185,481
114,230
Called up share capital
119
119
Share premium
696,143
696,143
Capital contribution reserve
51,708
51,708
Profit and loss account
(562,489)
(633,740)
Shareholders' funds
185,481
114,230
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by
Niroshan Balasubramaniam
Director
Company Registration No. 09453485
Zlick Ltd
Notes to the Accounts
for the year ended 28 February 2023
Zlick Ltd is a private company, limited by shares, registered in England and Wales, registration number 09453485. The registered office is 2.05 12-18 Hoxton Street, London, N1 6NG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Turnover is generated through commissions receivable and is recognised at the consideration receivable less value added tax. In generating commission income, Zlick Limited acts as an agent as it is only an intermediary between the main supplier and the end consumer.
Expenditure on research and development is written off in the year in which it is incurred.
Research and Development Tax Credit
During the financial year, Zlick Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% straight line
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Zlick Ltd
Notes to the Accounts
for the year ended 28 February 2023
Creditors Falling Due Within One Year - Prior Period Adjustment
Creditors falling due within one year for the year ending 28 February 2022 has been restated by £152,834 to recognise the loan from Oru Holding. This is repayable on demand but was previously recognised under creditors falling due after more than one year. The adjustments made is as follows;
Increase in Creditors Falling Due Within One Year by £152,834
Decrease in Creditors Falling Due After More Than One Year by £152,834
4
Tangible fixed assets
Computer equipment
At 28 February 2023
12,761
Amounts falling due within one year
Trade debtors
147,876
142,648
Accrued income and prepayments
91,512
74,974
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
4,627
21,623
Other creditors
536,973
153,003
Other Creditors Includes:
- A loan from Oru Holding Company, a company wholly controlled by the director Erki Koldits, totalling £152,834 (2022: £152,834). This loan is interest-free and repayable on demand.
- A convertible loan balance with accrued interest totalling £383,970 (2022: £392,406)
Zlick Ltd
Notes to the Accounts
for the year ended 28 February 2023
7
Creditors: amounts falling due after more than one year
2023
2022
8
Provisions for liabilities
£
Additional provisions made during the period
2,801
Other increase in provisions
6,198
Included in provisions is a provision for VAT reclaimable which has exceeded 4 years, the deadline set by HMRC to reclaim VAT.
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).