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COMPANY REGISTRATION NUMBER: 14058275
ZAYF MEDICAL & AESTHETICS LTD
Filleted Unaudited Financial Statements
30 April 2023
ZAYF MEDICAL & AESTHETICS LTD
Statement of Financial Position
30 April 2023
2023
Note
£
Current assets
Cash at bank and in hand
5,770
Creditors: amounts falling due within one year
7
24,295
--------
Net current liabilities
18,525
--------
Total assets less current liabilities
( 18,525)
--------
Net liabilities
( 18,525)
--------
Capital and reserves
Called up share capital
8
1
Profit and loss account
( 18,526)
--------
Shareholders deficit
( 18,525)
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 April 2024 , and are signed on behalf of the board by:
Dr S Shefta
Director
Company registration number: 14058275
ZAYF MEDICAL & AESTHETICS LTD
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Clarks courtyard, 145 Granville street, Birmingham, B1 1SB, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 .
5. Tax on profit
Major components of tax expense
2023
£
Current tax:
UK current tax expense
7,430
-------
Tax on profit
7,430
-------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than the standard rate of corporation tax in the UK of 19 %.
2023
£
Profit on ordinary activities before taxation
38,925
--------
Profit on ordinary activities by rate of tax
7,396
Effect of expenses not deductible for tax purposes
34
--------
Tax on profit
7,430
--------
6. Dividends
2023
£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
50,021
--------
7. Creditors: amounts falling due within one year
2023
£
Corporation tax
7,430
Other creditors
16,865
--------
24,295
--------
8. Called up share capital
Issued, called up and fully paid
2023
No.
£
Ordinary shares of £ 1 each
1
1
----
----
9. Director's advances, credits and guarantees
At the period end the director was owed by the company £15,725. The loan is interest-free but repayable on demand.