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REGISTERED NUMBER: 07277356 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

ZEROSHARP LTD

ZEROSHARP LTD (REGISTERED NUMBER: 07277356)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ZEROSHARP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTOR: R Anderson





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 07277356 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

ZEROSHARP LTD (REGISTERED NUMBER: 07277356)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 216 316

CURRENT ASSETS
Debtors 5 402,286 58,587
Cash at bank 104,880 246,142
507,166 304,729
CREDITORS
Amounts falling due within one year 6 58,987 86,889
NET CURRENT ASSETS 448,179 217,840
TOTAL ASSETS LESS CURRENT
LIABILITIES

448,395

218,156

PROVISIONS FOR LIABILITIES 3,239 -
NET ASSETS 445,156 218,156

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 7 13,809 -
Retained earnings 431,345 218,154
SHAREHOLDERS' FUNDS 445,156 218,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 29 February 2024 and were signed by:





R Anderson - Director


ZEROSHARP LTD (REGISTERED NUMBER: 07277356)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Zerosharp 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods.There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents net invoiced sale of computer services and is recognised according to the period it relates to.

Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses. Such cost included costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value over their expected useful lives, on the following basis:

Fixtures and fittings 25% on reducing balance
Computer equipment33.33% on reducing balance

The carrying values of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, 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.

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 statement of financial position date.


ZEROSHARP LTD (REGISTERED NUMBER: 07277356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2022
and 30 April 2023 1,351 12,880 14,231
DEPRECIATION
At 1 May 2022 1,285 12,630 13,915
Charge for year 17 83 100
At 30 April 2023 1,302 12,713 14,015
NET BOOK VALUE
At 30 April 2023 49 167 216
At 30 April 2022 66 250 316

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 28,165 28,733
Other debtors 374,121 29,854
402,286 58,587

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,641 454
Taxation and social security 51,521 83,085
Other creditors 3,825 3,350
58,987 86,889

ZEROSHARP LTD (REGISTERED NUMBER: 07277356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

7. RESERVES
Revaluation
reserve
£   
Foreign Exchange Revaluation 13,809

At 30 April 2023 13,809

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022:

2023 2022
£    £   
R Anderson
Balance outstanding at start of year - -
Amounts advanced 175,811 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 175,811 -

The interest on director loan account is £ 1,812 (2023).