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REGISTERED NUMBER: SC581898 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ZAVFIT LIMITED

ZAVFIT LIMITED (REGISTERED NUMBER: SC581898)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ZAVFIT LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: I Taylor
Mrs A Freeman
Ms E Engelsen



REGISTERED OFFICE: 24A Ainslie Place
Edinburgh
EH3 6AJ



BUSINESS ADDRESS: 14 Albany Street
Edinburgh
EH1 3QB



REGISTERED NUMBER: SC581898 (Scotland)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



SOLICITORS: Fox Williams LLP
10 Finsbury Square
London
EC2A 1AF

ZAVFIT LIMITED (REGISTERED NUMBER: SC581898)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 289,765 241,869
Tangible assets 5 6,371 4,654
296,136 246,523

CURRENT ASSETS
Debtors 6 217,219 140,534
Cash at bank 205,544 139,796
422,763 280,330
CREDITORS
Amounts falling due within one year 7 28,081 13,514
NET CURRENT ASSETS 394,682 266,816
TOTAL ASSETS LESS CURRENT
LIABILITIES

690,818

513,339

CAPITAL AND RESERVES
Called up share capital 19 15
Share premium 1,375,033 1,071,854
Retained earnings (684,234 ) (558,530 )
690,818 513,339

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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by:





Mrs A Freeman - Director


ZAVFIT LIMITED (REGISTERED NUMBER: SC581898)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Zavfit Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

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.

Trade marks are being amortised evenly over the useful economic life of 10 years.

Computer software is now in use and is being amortised over it's useful economic life of 5 years and 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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.

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 4 (2022 - 5 ) .

ZAVFIT LIMITED (REGISTERED NUMBER: SC581898)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


4. INTANGIBLE FIXED ASSETS
Trade Computer
Marks software Totals
£    £    £   
COST
At 1 January 2023 5,161 240,477 245,638
Additions 3,177 77,553 80,730
At 31 December 2023 8,338 318,030 326,368
AMORTISATION
At 1 January 2023 2,554 1,215 3,769
Amortisation for year 834 32,000 32,834
At 31 December 2023 3,388 33,215 36,603
NET BOOK VALUE
At 31 December 2023 4,950 284,815 289,765
At 31 December 2022 2,607 239,262 241,869

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 12,096
Additions 6,287
Disposals (2,280 )
At 31 December 2023 16,103
DEPRECIATION
At 1 January 2023 7,442
Charge for year 3,430
Eliminated on disposal (1,140 )
At 31 December 2023 9,732
NET BOOK VALUE
At 31 December 2023 6,371
At 31 December 2022 4,654

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 12,000
Other debtors 217,219 128,534
217,219 140,534

ZAVFIT LIMITED (REGISTERED NUMBER: SC581898)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,233 300
Taxation and social security 9,208 -
Other creditors 6,640 13,214
28,081 13,514