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REGISTERED NUMBER: 08067026















Financial Statements for the Year Ended 31 January 2023

for

ZAKS IT LIMITED

ZAKS IT LIMITED (Registered number: 08067026)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ZAKS IT LIMITED

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Mrs S Khan
Mr K A Khattak





REGISTERED OFFICE:
25 Finsbury Circus
London
EC2M 1NH





REGISTERED NUMBER: 08067026






ZAKS IT LIMITED (Registered number: 08067026)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,230 3,329
Investment property 5 123,000 123,000
125,230 126,329

CURRENT ASSETS
Debtors 6 720 55,563
Cash at bank 119,077 43,443
119,797 99,006
CREDITORS
Amounts falling due within one year 7 184,923 130,606
NET CURRENT LIABILITIES (65,126 ) (31,600 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,104

94,729

CREDITORS
Amounts falling due after more than one
year

8

51,542

86,308
NET ASSETS 8,562 8,421

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 8,462 8,321
SHAREHOLDERS' FUNDS 8,562 8,421

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

ZAKS IT LIMITED (Registered number: 08067026)

Balance Sheet - continued
31 January 2023


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 18 October 2023 and were signed on its behalf by:





Mr K A Khattak - Director


ZAKS IT LIMITED (Registered number: 08067026)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

ZAKS IT LIMITED is a private company, limited by shares , registered in Not specified/Other. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 15 ).

ZAKS IT LIMITED (Registered number: 08067026)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022
and 31 January 2023 8,285
DEPRECIATION
At 1 February 2022 4,956
Charge for year 1,099
At 31 January 2023 6,055
NET BOOK VALUE
At 31 January 2023 2,230
At 31 January 2022 3,329

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 123,000
NET BOOK VALUE
At 31 January 2023 123,000
At 31 January 2022 123,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 720 55,563

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 107,396 107,897
Taxation and social security 24,207 12,866
Other creditors 53,320 9,843
184,923 130,606

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 81,542 86,308
Other creditors (30,000 ) -
51,542 86,308

ZAKS IT LIMITED (Registered number: 08067026)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

9. RESERVES
Retained
earnings
£   

At 1 February 2022 8,321
Profit for the year 14,641
Dividends (14,500 )
At 31 January 2023 8,462