2022-03-01 2023-02-28 false Capium Accounts Production 1.1 12457899 bus:FullAccounts 2022-03-01 2023-02-28 12457899 bus:FRS102 2022-03-01 2023-02-28 12457899 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 12457899 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 12457899 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 12457899 2022-03-01 2023-02-28 12457899 2023-02-28 12457899 bus:RegisteredOffice 2022-03-01 2023-02-28 12457899 core:WithinOneYear 2023-02-28 12457899 core:AfterOneYear 2023-02-28 12457899 bus:Director1 2022-03-01 2023-02-28 12457899 bus:Director1 2023-02-28 12457899 bus:Director1 2021-03-01 2022-02-28 12457899 bus:Director2 2022-03-01 2023-02-28 12457899 bus:Director2 2023-02-28 12457899 bus:Director2 2021-03-01 2022-02-28 12457899 bus:Director3 2022-03-01 2023-02-28 12457899 bus:Director3 2023-02-28 12457899 bus:Director3 2021-03-01 2022-02-28 12457899 bus:Director4 2022-03-01 2023-02-28 12457899 bus:Director4 2023-02-28 12457899 bus:Director4 2021-03-01 2022-02-28 12457899 2021-03-01 12457899 bus:CompanySecretary1 2022-03-01 2023-02-28 12457899 bus:LeadAgentIfApplicable 2022-03-01 2023-02-28 12457899 2021-03-01 2022-02-28 12457899 2022-02-28 12457899 core:WithinOneYear 2022-02-28 12457899 core:AfterOneYear 2022-02-28 12457899 bus:EntityAccountantsOrAuditors 2021-03-01 2022-02-28 12457899 core:PlantMachinery 2022-03-01 2023-02-28 12457899 core:PlantMachinery 2023-02-28 12457899 core:PlantMachinery 2022-02-28 12457899 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-02-28 12457899 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2022-02-28 12457899 core:CostValuation core:Non-currentFinancialInstruments 2023-02-28 12457899 core:CostValuation core:Non-currentFinancialInstruments 2022-02-28 12457899 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-02-28 12457899 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2023-02-28 12457899 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2023-02-28 12457899 core:Non-currentFinancialInstruments 2023-02-28 12457899 core:Non-currentFinancialInstruments 2022-02-28 12457899 core:ShareCapital 2023-02-28 12457899 core:ShareCapital 2022-02-28 12457899 core:SharePremium 2023-02-28 12457899 core:SharePremium 2022-02-28 12457899 core:RevaluationReserve 2023-02-28 12457899 core:RevaluationReserve 2022-02-28 12457899 core:RetainedEarningsAccumulatedLosses 2023-02-28 12457899 core:RetainedEarningsAccumulatedLosses 2022-02-28 12457899 core:ShareCapitalOrdinaryShares 2022-03-01 12457899 core:ShareCapitalOrdinaryShares 2021-03-01 12457899 core:ShareCapitalOrdinaryShares 2022-03-01 2023-02-28 12457899 core:ShareCapitalOrdinaryShares 2021-03-01 2022-02-28 12457899 core:ShareCapitalOrdinaryShares 2023-02-28 12457899 core:ShareCapitalOrdinaryShares 2022-02-28 12457899 core:SharePremiumOrdinaryShares 2022-03-01 12457899 core:SharePremiumOrdinaryShares 2021-03-01 12457899 core:SharePremiumOrdinaryShares 2022-03-01 2023-02-28 12457899 core:SharePremiumOrdinaryShares 2021-03-01 2022-02-28 12457899 core:SharePremiumOrdinaryShares 2023-02-28 12457899 core:SharePremiumOrdinaryShares 2022-02-28 12457899 core:RetainedEarningsAccumulatedLosses 2022-03-01 12457899 core:RetainedEarningsAccumulatedLosses 2021-03-01 12457899 core:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 12457899 core:RetainedEarningsAccumulatedLosses 2021-03-01 2022-02-28 12457899 core:RetainedEarningsAccumulatedLosses 2023-02-28 12457899 core:RetainedEarningsAccumulatedLosses 2022-02-28 12457899 dpl:Item1 2022-03-01 12457899 dpl:Item1 2023-02-28 12457899 dpl:Item1 2021-03-01 12457899 dpl:Item1 2022-02-28 iso4217:GBP xbrli:shares xbrli:pure
Registered Number: 12457899
England and Wales

 

 

 

ZERO POINT MOTION LTD


Filleted Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
Directors Dr Ying Lia Li
Dr Gordon James Aspin
Dr Anthony John Milbourn
Mr Christopher John Wiles
Registered Number 12457899
Registered Office 1 Cathedral Square
Trinity Street
Bristol
BS1 5DD
Accountants Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 28 February 2023.
Principal activities
The principal activity of the company during the financial year was developing hardware solutions.
Directors
The directors who served the company throughout the year were as follows:
Dr Ying Lia Li
Dr Gordon James Aspin
Dr Anthony John Milbourn
Mr Christopher John Wiles
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Dr Ying Lia Li
Director

Date approved: 29 November 2023
2
Report to the directors on the preparation of the unaudited statutory accounts of Zero Point Motion Ltd for the year ended 28 February 2023. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Zero Point Motion Ltd for the year ended 28 February 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/. This report is made solely to the Board of Directors of Zero Point Motion Ltd, as a body, in accordance with the terms of our engagement letter dated 12 June 2021. Our work has been undertaken solely to prepare for your approval the accounts of Zero Point Motion Ltd and state those matters that we have agreed to state to the Board of Directors of Zero Point Motion Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Zero Point Motion Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Zero Point Motion Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Zero Point Motion Ltd. You consider that Zero Point Motion Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Zero Point Motion Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts 28 February 2023.


Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
29 November 2023
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 151,801    29,955 
151,801    29,955 
Current assets      
Debtors 4 167,486    62,984 
Cash at bank and in hand 1,619,724    2,417,306 
1,787,210    2,480,290 
Creditors: amount falling due within one year 5 (40,595)   (22,481)
Net current assets 1,746,615    2,457,809 
 
Total assets less current liabilities 1,898,416    2,487,764 
Net assets 1,898,416    2,487,764 
 

Capital and reserves
     
Called up share capital 2    2 
Share premium account 6 2,677,499    2,677,499 
Reserves 7 12,037   
Profit and loss account (791,122)   (189,737)
Shareholder's funds 1,898,416    2,487,764 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 November 2023 and were signed on its behalf by:


-------------------------------
Dr Ying Lia Li
Director
4
  Equity share capital   Equity share premium   Retained Earnings   Total
£ £ £ £
At 01 March 2021 1  106  107 
Profit for the year (189,843) (189,843)
Total comprehensive income for the year (189,843) (189,843)
Shares issued 1 
Equity share premium - new issue 2,677,499  2,677,499 
Total investments by and distributions to owners 1  2,677,499  2,677,500 
At 28 February 2022 2  2,677,499  (189,737) 2,487,764 
At 01 March 2022 2  2,677,499  (189,737) 2,487,764 
Profit for the year (601,385) (601,385)
Equity-settled share-based payments in year 12,037 
Total comprehensive income for the year (601,385) (589,348)
Total investments by and distributions to owners
At 28 February 2023 2  2,677,499  (791,122) 1,898,416 
5
General Information
Zero Point Motion Ltd is a private company, limited by shares, registered in England and Wales, registration number 12457899, registration address 1 Cathedral Square , Trinity Street, Bristol , BS1 5DD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Grants
Grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10% to 25% Straight Line
Share-based payments
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is charged to the income statement on a straight-line basis over the vesting period, with a corresponding increase in equity. Fair value is determined using an appropriate pricing model. All market conditions and non-vesting conditions are taken into account when estimating the fair value of the shares or share options.
2.

Average number of employees

Average number of employees during the year was 9 (2022 : 5).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 March 2022 31,266    31,266 
Additions 144,130    144,130 
Disposals  
At 28 February 2023 175,396    175,396 
Depreciation
At 01 March 2022 1,311    1,311 
Charge for year 22,284    22,284 
On disposals  
At 28 February 2023 23,595    23,595 
Net book values
Closing balance as at 28 February 2023 151,801    151,801 
Opening balance as at 01 March 2022 29,955    29,955 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments 31,476    8,941 
Corporation Tax 121,250    16,073 
VAT 14,760    37,970 
167,486    62,984 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 4,935   
PAYE & Social Security 11,896    6,373 
Accrued Expenses 10,151    917 
Deferred Grants 7,261    10,000 
Other Creditors 6,352    5,191 
40,595    22,481 

6.

Share premium account

2023
£
  2022
£
Equity Share Premium b/fwd 2,677,499   
Equity Share Premium - New Issue   2,677,499 
2,677,499    2,677,499 

7.

Reserves

2023
£
  2022
£
Equity-Settled Share-Based Payments in Year 12,037   
12,037   

8.

Share-based payments

The company operates an Enterprise Management Incentives (EMI) Option Scheme. During the year 74,074 (2022 : nil) share options were granted and 23,148 (2022 : nil) were vested. The fair value of these options was determined using an estimated Actual Market Value (AMV) of £0.52 per share. The vesting period is 3 years. No share options were exercised during the year. 

The total expense recognised in the income statement for the year is £12,037 (2022 : nil).
6