Company registration number 10232231 (England and Wales)
JZEE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
JZEE LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
JZEE LIMITED
STATEMENT OF FINANCIAL POSITION
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
45
Investments
4
50,000
120,000
50,000
120,045
Current assets
Debtors
6
275
22,207
Cash at bank and in hand
3,236
55,035
3,511
77,242
Creditors: amounts falling due within one year
7
(79,836)
(42,927)
Net current (liabilities)/assets
(76,325)
34,315
Total assets less current liabilities
(26,325)
154,360
Creditors: amounts falling due after more than one year
8
(31,518)
(37,990)
Net (liabilities)/assets
(57,843)
116,370
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
(57,943)
116,270
Total equity
(57,843)
116,370
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 year 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.
The financial statements were approved and signed by the director and authorised for issue on 28 February 2024
Mr J Zuppinger
Director
Company Registration No. 10232231
JZEE LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023
30 June 2023
- 2 -
1
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2
Accounting policies
Company information
JZEE Limited is a private company limited by shares incorporated in England and Wales. The registered office is 33 Carter Avenue, Exmouth, Devon, EX8 3EF. The company registration number is 10232231.
2.1
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.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director has indicated his willingness to continue to support the business by deferring the repayment of his current account. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
2.3
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:
Computers
33% 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.
2.4
Fixed asset investments
Interests in associated companies are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
2.5
Cash and cash equivalents
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.
JZEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
2
Accounting policies
(Continued)
- 3 -
2.6
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 statement of financial position 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 measured at transaction price including transaction costs.
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.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans that are classified as debt, are recognised at transaction price.
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 at transaction price.
2.7
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.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
50,000
120,000
JZEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
4
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in associates
£
Cost or valuation
At 1 July 2022
120,000
Additions
50,000
At 30 June 2023
170,000
Impairment
At 1 July 2022
-
Impairment losses
120,000
At 30 June 2023
120,000
Carrying amount
At 30 June 2023
50,000
At 30 June 2022
120,000
5
Tangible fixed assets
Computers
£
Cost
At 1 July 2022 and 30 June 2023
1,322
Depreciation
At 1 July 2022
1,277
Depreciation charged in the year
45
At 30 June 2023
1,322
Carrying amount
At 30 June 2023
At 30 June 2022
45
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
21,918
Other debtors
275
289
275
22,207
JZEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
4,620
2,310
Trade creditors
13
12
Other creditors
75,203
40,605
79,836
42,927
Included within creditors due within one year is finance obtained through the government's Bounce-back Loan Scheme. The scheme provides a government-backed guarantee and therefore none of the company's assets are held as security by the provider of the loan.
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
31,518
37,990
Included within creditors due after more than one year is finance obtained through the government's Bounce-back Loan Scheme. The scheme provides a government-backed guarantee and therefore none of the company's assets are held as security by the provider of the loan.
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
90
90
90
90
Ordinary B of £1 each
10
10
10
10
100
100
100
100
Each class of shares rank equally for dividends and on a winding-up of the company.