Registered number
11351527
TZI UK Limited
Filleted Accounts
30 June 2023
TZI UK Limited
Registered number: 11351527
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 772 1,708
Current assets
Stocks - 7,580
Debtors 4 48,071 235,771
Cash at bank and in hand 14,786 124,722
62,857 368,073
Creditors: amounts falling due within one year 5 (53,566) (117,564)
Net current assets 9,291 250,509
Total assets less current liabilities 10,063 252,217
Creditors: amounts falling due after more than one year 6 (726,927) (916,556)
Net liabilities (716,864) (664,339)
Capital and reserves
Called up share capital 100 100
Profit and loss account (716,964) (664,439)
Shareholders' funds (716,864) (664,339)
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.
P J GRAHAM
Director
Approved by the board on 17 October 2023
TZI UK Limited
Notes to the Accounts
for the year ended 30 June 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:
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
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.
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 3 3
3 Tangible fixed assets
Plant and machinery etc Furniture Total
£ £ £
Cost
At 1 July 2022 5,489 1,330 6,819
At 30 June 2023 5,489 1,330 6,819
Depreciation
At 1 July 2022 4,862 249 5,111
Charge for the year 627 309 936
At 30 June 2023 5,489 558 6,047
Net book value
At 30 June 2023 - 772 772
At 30 June 2022 627 1,081 1,708
4 Debtors 2023 2022
£ £
Trade debtors 42,364 230,667
Prepayments 5,707 3,977
Work in progress - 1,127
48,071 235,771
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 24,045 69,240
Accrued wages & Salary 833 (147)
Trade creditors 3,035 6,661
Taxation and social security costs (12,337) 20,123
Other creditors 4,594 21,687
Deferred Revenue 33,396
53,566 117,564
6 Creditors: amounts falling due after one year 2023 2022
£ £
Intercompany loan 726,927 916,556
7 Other information
TZI UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
3rd Floor
207 Regent Street
London
W1B 3HH
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