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REGISTERED NUMBER: 04175109 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Zinco International Limited

Zinco International Limited (Registered number: 04175109)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Zinco International Limited

Company Information
for the year ended 31 March 2023







Director: D A Watkins



Secretary: Ms M B Jackson



Registered office: Westfields Trading Estate
Hereford
HR4 9NS



Registered number: 04175109 (England and Wales)



Senior statutory auditor: Russell John Spencer FCCA



Auditors: Acre Accountancy Limited
Unit 2 Foley Works
Foley Industrial Estate
Hereford
Herefordshire
HR1 2SF

Zinco International Limited (Registered number: 04175109)

Abridged Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 195,224 196,844
195,224 196,844

CURRENT ASSETS
Stocks 49,511 46,992
Debtors 179,721 141,663
Cash at bank and in hand 249,266 217,635
478,498 406,290
CREDITORS
Amounts falling due within one year (355,618 ) (315,059 )
NET CURRENT ASSETS 122,880 91,231
TOTAL ASSETS LESS CURRENT
LIABILITIES

318,104

288,075

CREDITORS
Amounts falling due after more than one
year

-

(29,610

)

PROVISIONS FOR LIABILITIES 8 (45,588 ) (45,286 )
NET ASSETS 272,516 213,179

CAPITAL AND RESERVES
Called up share capital 9 5,000 5,000
Retained earnings 267,516 208,179
SHAREHOLDERS' FUNDS 272,516 213,179

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 November 2023 and were signed by:



D A Watkins - Director


Zinco International Limited (Registered number: 04175109)

Notes to the Financial Statements
for the year ended 31 March 2023


1. STATUTORY INFORMATION

Zinco International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and, where appropriate, amortised over its useful life of 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on cost and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement. They are classified as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Zinco International Limited (Registered number: 04175109)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Assets obtained under hire purchase and finance leases are capitalised as tangible assets and depreciated over their useful lives in accordance with depreciation policy. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the lease payments is charged to the profit and loss account over the period of the contract.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
Cost
At 1 April 2022
and 31 March 2023 25,000
Amortisation
At 1 April 2022
and 31 March 2023 25,000
Net book value

At 31 March 2023 -
At 31 March 2022 -

Zinco International Limited (Registered number: 04175109)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


6. TANGIBLE FIXED ASSETS
Totals
£   
Cost
At 1 April 2022 598,269
Additions 29,878
At 31 March 2023 628,147
Depreciation
At 1 April 2022 401,425
Charge for year 31,498
At 31 March 2023 432,923
Net book value
At 31 March 2023 195,224
At 31 March 2022 196,844

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 29,610 33,013
Between one and five years - 29,610
29,610 62,623

Non-cancellable operating leases
2023 2022
£    £   
Within one year 15,703 26,920
Between one and five years - 13,460
15,703 40,380

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax on accelerated
capital allowances 45,588 45,286
45,588 45,286

Zinco International Limited (Registered number: 04175109)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 45,286
Provided during year 302
Tax rate adjustment
Balance at 31 March 2023 45,588

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 Ordinary £1 5,000 5,000

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Russell John Spencer FCCA (Senior Statutory Auditor)
for and on behalf of Acre Accountancy Limited

11. ULTIMATE CONTROLLING PARTY

Hereford Galvanizers Limited (incorporated in England) is the ultimate parent company, holding all the shares of Zinco International Limited. In the opinion of the director, Hereford Galvanizers Limited is regarded as being the company's ultimate parent company.