Registered number
09271881
Z & S (Portslade) Ltd
Filleted Accounts
31 March 2023
Z & S (Portslade) Ltd
Registered number: 09271881
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 259,301 262,141
Current assets
Stocks 17,000 15,000
Debtors 4 501,913 130,519
Cash at bank and in hand 27,120 34,006
546,033 179,525
Creditors: amounts falling due within one year 5 (368,231) (229,249)
Net current assets/(liabilities) 177,802 (49,724)
Total assets less current liabilities 437,103 212,417
Creditors: amounts falling due after more than one year 6 (187,413) (30,627)
Net assets 249,690 181,790
Capital and reserves
Called up share capital 100 100
Profit and loss account 249,590 181,690
Shareholders' funds 249,690 181,790
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 (Portslade) 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 35 26
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 270,361 260,378 530,739
Additions 21,788 33,264 55,052
At 31 March 2023 292,149 293,642 585,791
Depreciation
At 1 April 2022 118,350 150,248 268,598
Charge for the year 29,217 28,675 57,892
At 31 March 2023 147,567 178,923 326,490
Net book value
At 31 March 2023 144,582 114,719 259,301
At 31 March 2022 152,011 110,130 262,141
4 Debtors 2023 2022
£ £
Other debtors 501,913 130,519
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 79,268 11,040
Trade creditors 125,560 50,899
Taxation and social security costs 156,152 159,716
Other creditors 7,251 7,594
368,231 229,249
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 187,413 30,627
7 Other information
Z & S (Portslade) 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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