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Registered number: 12428513
Zeezay Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
McPhersons Walpole Harding
ACCA
Citibase Brighton
95 Ditchling Road
Brighton
BN1 4ST
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12428513
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,543 1,599
9,543 1,599
CURRENT ASSETS
Debtors 5 9,250 455
Cash at bank and in hand 18,657 19,796
27,907 20,251
Creditors: Amounts Falling Due Within One Year 6 (19,268 ) (12,716 )
NET CURRENT ASSETS (LIABILITIES) 8,639 7,535
TOTAL ASSETS LESS CURRENT LIABILITIES 18,182 9,134
Creditors: Amounts Falling Due After More Than One Year 7 (3,702 ) (6,237 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,080 ) (304 )
NET ASSETS 13,400 2,593
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 13,300 2,493
SHAREHOLDERS' FUNDS 13,400 2,593
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Y Nabi
Director
3 April 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Zeezay Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12428513 . The registered office is 4 Gleton Avenue, Hove, BN3 8LL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The presentation currency of the financial statements is £GBP.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 rendering of services.
Rendering of services
Turnover from the rendering of services is recognised when the company has a right to the income under the terms of the contract, usually on receipt of payment.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Not depreciated
Plant & Machinery 20% on cost
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of directors, during the year was as follows: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 February 2023 - 4,569 4,569
Additions 3,468 6,737 10,205
As at 31 January 2024 3,468 11,306 14,774
Depreciation
As at 1 February 2023 - 2,970 2,970
Provided during the period - 2,261 2,261
As at 31 January 2024 - 5,231 5,231
Net Book Value
As at 31 January 2024 3,468 6,075 9,543
As at 1 February 2023 - 1,599 1,599
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 455
Rental deposit 9,250 -
9,250 455
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 2,535 2,473
Corporation tax 5,983 5,939
VAT - 2,741
Accruals and deferred income 750 1,563
Directors' loan accounts 10,000 -
19,268 12,716
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 3,702 6,237
3,702 6,237
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Later than five years 370,000 -
370,000 -
During the year, the company entered into a property lease agreement of £37,000 pa, expiring in 2034.
Page 5