Registered number
06771960
Czero Developments Limited
Report and Unaudited Accounts
30 September 2023
Accountancy 4 Wealth Limited
Chartered Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Czero Developments Limited
Registered number: 06771960
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 - 564
Investments 4 1,000 1,433
1,000 1,997
Current assets
Stocks 69,965 233,104
Debtors 5 23,843 389,679
Cash at bank and in hand 158,507 52,433
252,315 675,216
Creditors: amounts falling due within one year 6 (26,781) (497,784)
Net current assets 225,534 177,432
Total assets less current liabilities 226,534 179,429
Creditors: amounts falling due after more than one year 7 (4,257) (9,226)
Net assets 222,277 170,203
Capital and reserves
Called up share capital 100 100
Share premium 29,980 29,980
Profit and loss account 192,197 140,123
Shareholders' funds 222,277 170,203
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.
Mr Simon Linford
Director
Approved by the board on 29 December 2023
Czero Developments Limited
Notes to the Accounts
for the year ended 30 September 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.
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:
Plant and machinery 33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022 4,150
At 30 September 2023 4,150
Depreciation
At 1 October 2022 3,586
Charge for the year 564
At 30 September 2023 4,150
Net book value
At 30 September 2023 -
At 30 September 2022 564
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 October 2022 1,433
Disposals (433)
At 30 September 2023 1,000
The company holds shareholdings in the following Companies.
Czero Bishops Castle Limited 100%
5 Debtors 2023 2022
£ £
Trade debtors 10,092 27,880
Amounts owed by group undertakings and undertakings in which the company has a participating interest 13,200 -
Other debtors 551 361,799
23,843 389,679
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,000 5,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 97,435
Corporation tax 3,131 52,649
Other taxes and social security costs 3,321 1,060
Other creditors 15,329 341,640
26,781 497,784
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 4,257 9,226
8 Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.
9 Controlling party
The Ultimate Holding Company is Linford Czero Limited, a company under the control of Mr Simon Linford and family.
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