Company registration number 06806509 (England and Wales)
ZAMEERO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
ZAMEERO LIMITED
COMPANY INFORMATION
Director
Ms Shabnam Nazir
Secretary
Mr Majid Zameer
Company number
06806509
Registered office
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
Accountants
Pierce C A Limited
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
Business address
Canada House
3 Broadgate
Broadway Business Park
Chadderton
OL9 9XA
ZAMEERO LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
ZAMEERO LIMITED
BALANCE SHEET
AS AT
28 DECEMBER 2022
28 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
37,500
47,500
Tangible assets
4
17,272
18,022
54,772
65,522
Current assets
Debtors
5
2,520
-
0
Cash at bank and in hand
210,394
195,135
212,914
195,135
Creditors: amounts falling due within one year
6
(346,487)
(169,498)
Net current (liabilities)/assets
(133,573)
25,637
Total assets less current liabilities
(78,801)
91,159
Creditors: amounts falling due after more than one year
7
(39,208)
(44,391)
Provisions for liabilities
-
0
(2,108)
Net (liabilities)/assets
(118,009)
44,660
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(118,109)
44,560
Total equity
(118,009)
44,660

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 28 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

ZAMEERO LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 DECEMBER 2022
28 December 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 7 November 2023
Ms Shabnam Nazir
Director
Company Registration No. 06806509
ZAMEERO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 DECEMBER 2022
- 3 -
1
Accounting policies
Company information

Zameero Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is reliant upon the financial support of its director and majority shareholder and their associated business interests in order to meet its liabilities as they fall due.true

 

The director and the majority shareholder have indicated that this support will continue for the foreseeable future and, as a result, the director has continued to adopt the going concern basis in preparing the financial statements.

 

 

1.3
Turnover

Turnover represents amounts receivable for services, net of VAT.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Bitcoins
20% per annum - straight line basis
ZAMEERO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
10% per annum - straight line
Fixtures, fittings & equipment
15% per annum - reducing balance
Computer equipment
33.3 per annum - straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

ZAMEERO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 DECEMBER 2022
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

ZAMEERO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 DECEMBER 2022
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was 2 (2021 - 2).

2022
2021
Number
Number
Total
2
2
3
Intangible fixed assets
Bitcoins
£
Cost
At 30 December 2021 and 28 December 2022
50,000
Amortisation and impairment
At 30 December 2021
2,500
Amortisation charged for the period
10,000
At 28 December 2022
12,500
Carrying amount
At 28 December 2022
37,500
At 29 December 2021
47,500
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 30 December 2021
58,481
23,436
81,917
Additions
-
0
3,239
3,239
At 28 December 2022
58,481
26,675
85,156
Depreciation and impairment
At 30 December 2021
51,555
12,340
63,895
Depreciation charged in the period
848
3,141
3,989
At 28 December 2022
52,403
15,481
67,884
Carrying amount
At 28 December 2022
6,078
11,194
17,272
At 29 December 2021
6,926
11,096
18,022
ZAMEERO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 DECEMBER 2022
- 7 -
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Corporation tax recoverable
2,520
-
0
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
5,180
5,180
Corporation tax
8,880
20,801
Other taxation and social security
18,916
14,278
Other creditors
313,511
129,239
346,487
169,498
ZAMEERO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 DECEMBER 2022
- 8 -
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
39,208
44,391

The bank loan is unsecured and has a term of ten years.

Creditors which fall due after five years are as follows:
2022
2021
£
£
Payable by instalments
20,300
25,483
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