Company Registration No. 05388029 (England and Wales)
Zulogic Limited
Unaudited accounts
for the year ended 31 July 2023
Zulogic Limited
Unaudited accounts
Contents
Zulogic Limited
Company Information
for the year ended 31 July 2023
Company Number
05388029 (England and Wales)
Registered Office
Three Trees
The Street
Ulcombe
Kent
ME17 1DX
England
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
Zulogic Limited
Statement of financial position
as at 31 July 2023
Tangible assets
2,918
1,135
Cash at bank and in hand
24,879
17,995
Creditors: amounts falling due within one year
(27,117)
(32,000)
Net current assets
41,528
38,798
Total assets less current liabilities
44,446
39,933
Creditors: amounts falling due after more than one year
(33,684)
(39,297)
Called up share capital
2
2
Profit and loss account
10,760
634
Shareholders' funds
10,762
636
For the year ending 31 July 2023 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 November 2023 and were signed on its behalf by
Mr D Henley
Director
Company Registration No. 05388029
Zulogic Limited
Notes to the Accounts
for the year ended 31 July 2023
Zulogic Limited is a private company, limited by shares, registered in England and Wales, registration number 05388029. The registered office is Three Trees, The Street, Ulcombe, Kent, ME17 1DX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% written down value
Computer equipment
15% written down value
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Expenditure on research and development is written off in the year in which it is incurred.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Zulogic Limited
Notes to the Accounts
for the year ended 31 July 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2022
1,293
3,416
4,709
At 31 July 2023
3,590
3,416
7,006
At 1 August 2022
740
2,834
3,574
Charge for the year
427
87
514
At 31 July 2023
1,167
2,921
4,088
At 31 July 2023
2,423
495
2,918
At 31 July 2022
553
582
1,135
Amounts falling due within one year
Other debtors
5,397
11,061
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,294
5,000
Taxes and social security
11,042
21,895
7
Creditors: amounts falling due after more than one year
2023
2022
Zulogic Limited
Notes to the Accounts
for the year ended 31 July 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to director
11,061
-
5,664
5,397
9
Average number of employees
During the year the average number of employees was 5 (2022: 5).