Registered number
10262561
Zero25 Ltd
Filleted Accounts
31 July 2023
Zero25 Ltd
Registered number: 10262561
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 11,463 15,284
Tangible assets 4 93,617 100,048
105,080 115,332
Current assets
Debtors 5 131,989 99,912
Cash at bank and in hand 4,703 20,274
136,692 120,186
Creditors: amounts falling due within one year 6 (184,994) (158,291)
Net current liabilities (48,302) (38,105)
Total assets less current liabilities 56,778 77,227
Creditors: amounts falling due after more than one year 7 (56,761) (82,281)
Net assets/(liabilities) 17 (5,054)
Capital and reserves
Called up share capital 2 2
Profit and loss account 15 (5,056)
Shareholders' funds 17 (5,054)
There are advances made to directors totalling £39,662 as at 31 July 2023. This balance is reflected in Current Assets above.
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Tshalibe
Director
Approved by the board on 10 April 2024
Zero25 Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 5% straight line basis
Franchise over 10 years
Fixtures, fittings, tools and equipment 25% straight line basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 36 36
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 38,210
At 31 July 2023 38,210
Amortisation
At 1 August 2022 22,926
Provided during the year 3,821
At 31 July 2023 26,747
Net book value
At 31 July 2023 11,463
At 31 July 2022 15,284
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 142,928 51,909 194,837
Additions - 955 955
At 31 July 2023 142,928 52,864 195,792
Depreciation
At 1 August 2022 42,880 51,909 94,789
Charge for the year 7,147 239 7,386
At 31 July 2023 50,027 52,148 102,175
Net book value
At 31 July 2023 92,901 716 93,617
At 31 July 2022 100,048 - 100,048
5 Debtors 2023 2022
£ £
Trade debtors 7,000 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 46,500 39,651
Other debtors 78,489 60,261
131,989 99,912
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 25,519 25,519
Corporation tax 26,469 19,862
Other taxes and social security costs 93,229 71,089
Other creditors 39,777 41,821
184,994 158,291
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 56,761 82,281
8 Other information
Zero25 Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12-13 Regent Terrace
Cambridge
CB2 1AA
Zero25 Ltd 10262561 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts October 2023 release 2 T Tshalibe No description of principal activity 10262561 2021-08-01 2022-07-31 10262561 core:WithinOneYear 2022-07-31 10262561 core:AfterOneYear 2022-07-31 10262561 core:ShareCapital 2022-07-31 10262561 core:RetainedEarningsAccumulatedLosses 2022-07-31 10262561 2022-08-01 2023-07-31 10262561 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10262561 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 10262561 bus:Director40 2022-08-01 2023-07-31 10262561 1 2022-08-01 2023-07-31 10262561 2 2022-08-01 2023-07-31 10262561 core:Goodwill 2022-08-01 2023-07-31 10262561 core:LandBuildings 2022-08-01 2023-07-31 10262561 core:PlantMachinery 2022-08-01 2023-07-31 10262561 countries:England 2022-08-01 2023-07-31 10262561 bus:FRS102 2022-08-01 2023-07-31 10262561 bus:FullAccounts 2022-08-01 2023-07-31 10262561 2023-07-31 10262561 core:WithinOneYear 2023-07-31 10262561 core:AfterOneYear 2023-07-31 10262561 core:ShareCapital 2023-07-31 10262561 core:RetainedEarningsAccumulatedLosses 2023-07-31 10262561 core:Goodwill 2023-07-31 10262561 core:LandBuildings 2023-07-31 10262561 core:PlantMachinery 2023-07-31 10262561 2022-07-31 10262561 core:Goodwill 2022-07-31 10262561 core:LandBuildings 2022-07-31 10262561 core:PlantMachinery 2022-07-31 iso4217:GBP xbrli:pure