Company registration number 05914370 (England and Wales)
Zero Telecommunications Limited
Unaudited financial statements
For the year ended 27 August 2023
Zero Telecommunications Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Zero Telecommunications Limited
Statement of financial position
As at 27 August 2023
27 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
933
933
Cash at bank and in hand
2
2
935
935
Creditors: amounts falling due within one year
4
(874)
(874)
Net current assets
61
61
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
60
60
Total equity
61
61

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 27 August 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 member has 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 7 February 2024
Mr P Thompson
Director
Company Registration No. 05914370
Zero Telecommunications Limited
Notes to the financial statements
For the year ended 27 August 2023
- 2 -
1
Accounting policies
Company information

Zero Telecommunications Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5 Mallard Court, Mallard Way, Crewe, Cheshire, England, CW1 6ZQ.

1.1
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. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and has been amortised on a systematic basis over its expected life.

1.3
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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
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 cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

Zero Telecommunications Limited
Notes to the financial statements (continued)
For the year ended 27 August 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Intangible fixed assets
Goodwill
£
Cost
At 28 August 2022 and 27 August 2023
40,000
Amortisation and impairment
At 28 August 2022 and 27 August 2023
40,000
Carrying amount
At 27 August 2023
-
0
At 27 August 2022
-
0
4
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
874
874
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