Caseware UK (AP4) 2022.0.179 2022.0.179 2022-10-312022-10-31false2021-11-011The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false1Property rentaltrue 12433987 2021-11-01 2022-10-31 12433987 2020-11-01 2021-10-31 12433987 2022-10-31 12433987 2021-10-31 12433987 c:Director1 2021-11-01 2022-10-31 12433987 d:CurrentFinancialInstruments 2022-10-31 12433987 d:CurrentFinancialInstruments 2021-10-31 12433987 d:Non-currentFinancialInstruments 2022-10-31 12433987 d:Non-currentFinancialInstruments 2021-10-31 12433987 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 12433987 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 12433987 d:ShareCapital 2022-10-31 12433987 d:ShareCapital 2021-10-31 12433987 d:RetainedEarningsAccumulatedLosses 2022-10-31 12433987 d:RetainedEarningsAccumulatedLosses 2021-10-31 12433987 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-10-31 12433987 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-10-31 12433987 c:FRS102 2021-11-01 2022-10-31 12433987 c:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 12433987 c:FullAccounts 2021-11-01 2022-10-31 12433987 c:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure

Registered number: 12433987










JZC LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

 
JZC LTD
REGISTERED NUMBER: 12433987

BALANCE SHEET
AS AT 31 OCTOBER 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 4 
185,000
185,000

Debtors: amounts falling due within one year
 4 
1
1

Cash at bank and in hand
 5 
632
1,069

  
185,633
186,070

Creditors: amounts falling due within one year
 6 
(198,711)
(197,870)

Net current liabilities
  
 
 
(13,078)
 
 
(11,800)

Total assets less current liabilities
  
(13,078)
(11,800)

  

Net liabilities
  
(13,078)
(11,800)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(13,079)
(11,801)

  
(13,078)
(11,800)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






Dr Nabil Choudhury
Director

Page 1

 
JZC LTD
REGISTERED NUMBER: 12433987

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2022

Date: 19 October 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
JZC LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

1.


General information

JZC Ltd is a company domiciled in England and Wales, registration number 12433987.  The registered office address is Wharf House, Victoria Quays, Wharf Street, Sheffield, S2 5SY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
JZC LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 4

 
JZC LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as
Page 5

 
JZC LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)


2.7
Financial instruments (continued)

with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2022
        2021
            No.
            No.







Administration
1
1


4.


Debtors

2022
2021
£
£

Due after more than one year

Other debtors
185,000
185,000

185,000
185,000


2022
2021
£
£

Due within one year

Prepayments and accrued income
1
1

1
1


Page 6

 
JZC LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
632
1,069

632
1,069



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other creditors
197,031
196,580

Accruals and deferred income
1,680
1,290

198,711
197,870



7.


Financial instruments

2022
2021
£
£

Financial assets


Financial assets measured at fair value through profit or loss
632
632




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


8.


Related party transactions

At the balance sheet date the company owed £195,000 (2021: £195,000) to NCIA Holdings Ltd,  £2,031 (2021: £1,581) to Harley Street Healthcare Ltd. 
At the balance sheet date £197,031 (2021: £196,580) is included in other creditors.
At the balance sheet date the company was owed £75,000 (2021: £75,000) from Phi Phi Ltd and £110,000 (2021: £110,000) from HSHC London Ltd. At the balance sheet date £185,000 (2021:£185,000) is included in other debtors.
 


9.


Controlling party

Dr Nabil Choudhury is the ultimate controlling party.


Page 7