2022-07-012023-06-302023-06-30false12703451ZENITH SYSTEMS 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ZENITH SYSTEMS LTD

Registered Number
12703451
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

ZENITH SYSTEMS LTD
Company Information
for the year from 1 July 2022 to 30 June 2023

Director

K E, TURNBULL

Registered Address

7 West Wynd
Killingworth
Newcastle Upon Tyne
NE12 6FP

Registered Number

12703451 (England and Wales)
ZENITH SYSTEMS LTD
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets51,091-
1,091-
Current assets
Debtors63,330233
Cash at bank and on hand1,1141,065
4,4441,298
Creditors amounts falling due within one year7(11,215)(9,967)
Net current assets (liabilities)(6,771)(8,669)
Total assets less current liabilities(5,680)(8,669)
Net assets(5,680)(8,669)
Capital and reserves
Called up share capital11
Profit and loss account(5,681)(8,670)
Shareholders' funds(5,680)(8,669)
The financial statements were approved and authorised for issue by the Director on 31 October 2023, and are signed on its behalf by:
K E, TURNBULL
Director
Registered Company No. 12703451
ZENITH SYSTEMS LTD
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Revenue recognition policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
Additions1,2701,270
At 30 June 231,2701,270
Depreciation and impairment
Charge for year179179
At 30 June 23179179
Net book value
At 30 June 231,0911,091
At 30 June 22--
6.Debtors

2023

2022

££
Trade debtors / trade receivables3,330-
Other debtors-233
Total3,330233
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.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables20633
Bank borrowings and overdrafts9,5489,333
Taxation and social security962-
Accrued liabilities and deferred income499601
Total11,2159,967
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.