Registered number
10014810
Z & S (Poets) Ltd
Filleted Accounts
31 March 2023
Z & S (Poets) Ltd
Registered number: 10014810
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 104,981 34,383
Current assets
Stocks 15,000 10,000
Debtors 4 255,657 180,271
Cash at bank and in hand 8,500 16,346
279,157 206,617
Creditors: amounts falling due within one year 5 (197,027) (142,041)
Net current assets 82,130 64,576
Total assets less current liabilities 187,111 98,959
Creditors: amounts falling due after more than one year 6 (100,747) (50,535)
Net assets 86,364 48,424
Capital and reserves
Called up share capital 101 101
Profit and loss account 86,263 48,323
Shareholders' funds 86,364 48,424
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 members have 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.
Mr S R McEwan
Director
Approved by the board on 18 October 2023
Z & S (Poets) Ltd
Notes to the Accounts
for the year ended 31 March 2023
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:
Leasehold land and buildings over 10 years
Plant and machinery 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 21 21
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 25,000 58,741 83,741
Additions 31,384 61,544 92,928
At 31 March 2023 56,384 120,285 176,669
Depreciation
At 1 April 2022 12,500 36,858 49,358
Charge for the year 5,644 16,686 22,330
At 31 March 2023 18,144 53,544 71,688
Net book value
At 31 March 2023 38,240 66,741 104,981
At 31 March 2022 12,500 21,883 34,383
4 Debtors 2023 2022
£ £
Other debtors 255,657 180,271
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 50,029 26,132
Trade creditors 40,393 16,708
Taxation and social security costs 100,217 91,752
Other creditors 6,388 7,449
197,027 142,041
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 100,747 50,535
7 Other information
Z & S (Poets) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Demar House, 14 Church Road
East Wittering
Chichester
West Sussex
PO20 8PS
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