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REGISTERED NUMBER: 08916289 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Zenzic Partners Limited

Zenzic Partners Limited (Registered number: 08916289)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Zenzic Partners Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: Ms N Buckland
T R Lloyd-Jones
J O Lloyd-Jones





REGISTERED OFFICE: 2 London Wall Place
London
EC2Y 5AU





REGISTERED NUMBER: 08916289 (England and Wales)





ACCOUNTANTS: Garside and Co. Limited
Suite 631, Linen Hall
162-168 Regent Street
London
W1B 5TG

Zenzic Partners Limited (Registered number: 08916289)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £   
FIXED ASSETS
Tangible assets 4 95,667 22,311
Investments 5 2,282,001 10
2,377,668 22,321

CURRENT ASSETS
Debtors 6 429,110 2,068,472
Cash at bank 25,841 34,829
454,951 2,103,301
CREDITORS
Amounts falling due within one year 7 (2,771,057 ) (1,143,114 )
NET CURRENT (LIABILITIES)/ASSETS (2,316,106 ) 960,187
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,562

982,508

CREDITORS
Amounts falling due after more than one year 8 - (56,279 )
NET ASSETS 61,562 926,229

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 56,562 921,229
61,562 926,229

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Zenzic Partners Limited (Registered number: 08916289)

Balance Sheet - continued
31 December 2022


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by:





J O Lloyd-Jones - Director


Zenzic Partners Limited (Registered number: 08916289)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Zenzic Partners Limited is a private company limited by shares, incorporated in England and Wales, registration number 08916289. The address of its registered office is 2 London Wall Place, London, England EC2Y 5AU.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern
The Financial Statements are prepared on the going concern basis for the year, under the historical cost convention and comply with the financial reporting standards of the Financial Reporting Council and the Companies Act 2006.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.
Depreciation is provided on the following basis:

- Fixtures and fittings - straight line over 3 years
- Office equipment and IT - straight line over 4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Tangible fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Income Statement.

Zenzic Partners Limited (Registered number: 08916289)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Investments in associates
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the Income Statement.

Impairment
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the Income Statement, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the Income Statement, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Zenzic Partners Limited (Registered number: 08916289)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

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. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Share Capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

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 the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Zenzic Partners Limited (Registered number: 08916289)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Foreign currencies
i.Functional and presentation currency
The company's functional and presentation currency is the pound sterling (£).

ii.Transactions and balances
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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Income Statement.

Operating leases
Payments under operating leases are charged to the Income Statement account on a straight-line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2021 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures Office
and equipment
fittings and IT Totals
£    £    £   
COST
At 1 January 2022 25,553 47,336 72,889
Additions 4,390 105,677 110,067
At 31 December 2022 29,943 153,013 182,956
DEPRECIATION
At 1 January 2022 16,746 33,832 50,578
Charge for year 4,108 32,603 36,711
At 31 December 2022 20,854 66,435 87,289
NET BOOK VALUE
At 31 December 2022 9,089 86,578 95,667
At 31 December 2021 8,807 13,504 22,311

Zenzic Partners Limited (Registered number: 08916289)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. FIXED ASSET INVESTMENTS
Interest
in
associates
£   
COST
At 1 January 2022 10
Additions 2,281,991
At 31 December 2022 2,282,001
NET BOOK VALUE
At 31 December 2022 2,282,001
At 31 December 2021 10

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 319,787 321,400
Owed by group companies&related parties 45 1,696,706
Other debtors 109,278 50,366
429,110 2,068,472

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 120,191 105,578
Owed to group companies&related parties 1,837,153 124,910
Taxation and social security - 43,447
Other creditors 813,713 869,179
2,771,057 1,143,114

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Other creditors - 56,279

9. LOANS

An analysis of the maturity of loans is given below:

31.12.22 31.12.21
£    £   
Amounts falling due within one year or on demand:
Other loans 63,066 181,787

Zenzic Partners Limited (Registered number: 08916289)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

9. LOANS - continued
31.12.22 31.12.21
£    £   
Amounts falling due between two and five years:
Other loans 2-5 years - 56,279

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.22 31.12.21
£    £   
Within one year 524,358 389,053
Between one and five years 1,683,215 1,714,574
In more than five years 892,226 1,221,954
3,099,799 3,325,581

11. ULTIMATE CONTROLLING PARTY

The parent undertaking is Zenzic Partners Group Limited, a company incorporated in England and Wales. The registered number of the company is 11504554 and registered office address is 2 London Wall Place, London, England EC2Y 5AU.