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REGISTERED NUMBER: 12528331 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Truzo Ltd

Truzo Ltd (Registered number: 12528331)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Truzo Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: A V Migatchev
V Naidu
M Walkden





REGISTERED OFFICE: Coveham House
Downside Bridge Road
Cobham
KT11 3EP





REGISTERED NUMBER: 12528331 (England and Wales)





ACCOUNTANTS: AccountLets
Coveham House
Downside Bridge Road
Cobham
Surrey
KT11 3EP

Truzo Ltd (Registered number: 12528331)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 369,370 369,370
Investments 5 279,187 29,187
648,557 398,557

CURRENT ASSETS
Debtors 6 23,013 100
Cash at bank 144,150 17,936
167,163 18,036
CREDITORS: AMOUNTS FALLING DUE WITHIN
ONE YEAR

7

822,625

596,282
NET CURRENT LIABILITIES (655,462 ) (578,246 )
TOTAL ASSETS LESS CURRENT LIABILITIES (6,905 ) (179,689 )

CAPITAL AND RESERVES
Called up share capital 250,100 100
Retained earnings (257,005 ) (179,789 )
(6,905 ) (179,689 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

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:




V Naidu - Director



A V Migatchev - Director


Truzo Ltd (Registered number: 12528331)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Truzo Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Truzo Ltd (Registered number: 12528331)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Accounting policy
Foreign currency transactions and balances
Transactions in foreign currencies are initially recorded at the Functional currency rate prevailing at the date of the transaction. Monetary assets andliabilities denominated inforeign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value isre-measured.

Non-monetary itemsmeasuredintermsofhistoricalcostinaforeigncurrencyarenotretranslated.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course or business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors
Trade creditors are the obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022
and 28 February 2023 369,370
NET BOOK VALUE
At 28 February 2023 369,370
At 28 February 2022 369,370

5. FIXED ASSET INVESTMENTS

28.2.23 28.2.22
£    £   
Shares in group undertakings 10,000 10,000
Loans to group undertakings 269,187 19,187
279,187 29,187

Truzo Ltd (Registered number: 12528331)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 10,000
NET BOOK VALUE
At 28 February 2023 10,000
At 28 February 2022 10,000
Loans to
group
undertakings
£   
At 1 March 2022 19,187
New in year 250,000
At 28 February 2023 269,187

6. DEBTORS
28.2.23 28.2.22
£    £   
Amounts falling due within one year:
Trade debtors 16,761 -
Other debtors 5,002 100
21,763 100

Amounts falling due after more than one year:
Other debtors 1,250 -

Aggregate amounts 23,013 100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 644,742 525,153
Other creditors 177,883 71,129
822,625 596,282

8. RELATED PARTY DISCLOSURES

V Naidu

An interest free loan was made by Vinodhan Naidu to the company. The balance payable was as follows:
YE 28.02.2022 : £86,911
YE 28.02.2023 : £252,381

Truzo Ltd (Registered number: 12528331)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. SHARE CAPITAL

Ordinary share are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial instrument is on a present value basis.