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REGISTERED NUMBER: 07322535 (England and Wales)
















iZone Driver Performance Ltd

Unaudited Financial Statements

for the Year Ended

31 July 2023






iZone Driver Performance Ltd (Registered number: 07322535)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


iZone Driver Performance Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTOR: J R J Pratt





REGISTERED OFFICE: 5 Clarendon Place
Leamington Spa
Warwickshire
CV32 5QL





BUSINESS ADDRESS: 2255 Silverstone Technology Park
Silverstone Circuit
Silverstone
Northamptonshire
NN12 8GX





REGISTERED NUMBER: 07322535 (England and Wales)





ACCOUNTANTS: Moffat Gilbert
5 Clarendon Place
Leamington Spa
Warwickshire
CV32 5QL

iZone Driver Performance Ltd (Registered number: 07322535)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 235
Tangible assets 5 161,038 199,335
161,038 199,570

CURRENT ASSETS
Debtors 6 54,358 75,751
Cash at bank 142,883 67,180
197,241 142,931
CREDITORS
Amounts falling due within one year 7 144,421 85,533
NET CURRENT ASSETS 52,820 57,398
TOTAL ASSETS LESS CURRENT
LIABILITIES

213,858

256,968

CREDITORS
Amounts falling due after more than one
year

8

(19,167

)

(29,167

)

PROVISIONS FOR LIABILITIES (24,148 ) (43,352 )
NET ASSETS 170,543 184,449

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 170,443 184,349
SHAREHOLDERS' FUNDS 170,543 184,449

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

iZone Driver Performance Ltd (Registered number: 07322535)

Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 April 2024 and were signed by:





J R J Pratt - Director


iZone Driver Performance Ltd (Registered number: 07322535)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

iZone Driver Performance Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development costs are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the remaining term of the leases
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

iZone Driver Performance Ltd (Registered number: 07322535)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Website
development Computer
costs software Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 6,404 4,310 10,714
AMORTISATION
At 1 August 2022 6,404 4,075 10,479
Amortisation for year - 235 235
At 31 July 2023 6,404 4,310 10,714
NET BOOK VALUE
At 31 July 2023 - - -
At 31 July 2022 - 235 235

iZone Driver Performance Ltd (Registered number: 07322535)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 August 2022 117,177 333,117 148,741 599,035
Additions - - 5,510 5,510
Disposals - - (1,000 ) (1,000 )
At 31 July 2023 117,177 333,117 153,251 603,545
DEPRECIATION
At 1 August 2022 56,925 262,212 80,563 399,700
Charge for year 15,063 14,181 14,563 43,807
Eliminated on disposal - - (1,000 ) (1,000 )
At 31 July 2023 71,988 276,393 94,126 442,507
NET BOOK VALUE
At 31 July 2023 45,189 56,724 59,125 161,038
At 31 July 2022 60,252 70,905 68,178 199,335

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 42,294 63,433
Other debtors 4,135 4,135
Prepayments 7,929 8,183
54,358 75,751

Within other debtors is the rent deposit of £4,135 which is due after more than one year.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 8,975 17,948
Tax 20,949 17
Social security and other taxes 1,294 3,821
VAT 14,501 13,122
Other creditors 594 1,429
Directors' current accounts 8,270 17,760
Deferred income 7,841 3,919
Accrued expenses 71,997 17,517
144,421 85,533

iZone Driver Performance Ltd (Registered number: 07322535)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans - 2-5 years 19,167 29,167

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.23 31.7.22
£    £   
Within one year 26,260 20,204
Between one and five years 52,520 60,612
78,780 80,816

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 August 2022 184,349
Profit for the year 23,894
Dividends (37,800 )
At 31 July 2023 170,443

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is the director Mr J R J Pratt.