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REGISTERED NUMBER: 04766470 (England and Wales)















ZONE SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






ZONE SYSTEMS LIMITED (REGISTERED NUMBER: 04766470)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ZONE SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: D Bird
S E Cook



REGISTERED OFFICE: 4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR



REGISTERED NUMBER: 04766470 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: Lloyds Bank
2 North Gate
Sleaford
Lincolnshire
NG347BL

ZONE SYSTEMS LIMITED (REGISTERED NUMBER: 04766470)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,250 1,250
Tangible assets 5 132,544 59,066
133,794 60,316

CURRENT ASSETS
Stocks 334,636 295,740
Debtors 6 629,657 584,457
Cash at bank 528,122 344,127
1,492,415 1,224,324
CREDITORS
Amounts falling due within one year 7 754,588 644,883
NET CURRENT ASSETS 737,827 579,441
TOTAL ASSETS LESS CURRENT LIABILITIES 871,621 639,757

CREDITORS
Amounts falling due after more than one year 8 (169,364 ) (169,419 )

PROVISIONS FOR LIABILITIES (22,799 ) (3,203 )
NET ASSETS 679,458 467,135

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 679,358 467,035
SHAREHOLDERS' FUNDS 679,458 467,135

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

ZONE SYSTEMS LIMITED (REGISTERED NUMBER: 04766470)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 11 July 2024 and were signed on its behalf by:





D Bird - Director


ZONE SYSTEMS LIMITED (REGISTERED NUMBER: 04766470)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Zone Systems Limited 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


ZONE SYSTEMS LIMITED (REGISTERED NUMBER: 04766470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 10 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2022
and 31 October 2023 2,500
AMORTISATION
At 1 November 2022
and 31 October 2023 1,250
NET BOOK VALUE
At 31 October 2023 1,250
At 31 October 2022 1,250

ZONE SYSTEMS LIMITED (REGISTERED NUMBER: 04766470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 177,035
Additions 94,723
Disposals (7,450 )
At 31 October 2023 264,308
DEPRECIATION
At 1 November 2022 117,969
Charge for year 19,845
Eliminated on disposal (6,050 )
At 31 October 2023 131,764
NET BOOK VALUE
At 31 October 2023 132,544
At 31 October 2022 59,066

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2022 43,027
Additions 70,294
At 31 October 2023 113,321
DEPRECIATION
At 1 November 2022 9,554
Charge for year 8,368
At 31 October 2023 17,922
NET BOOK VALUE
At 31 October 2023 95,399
At 31 October 2022 33,473

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 178,903 277,125
Other debtors 450,754 307,332
629,657 584,457

ZONE SYSTEMS LIMITED (REGISTERED NUMBER: 04766470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 54,995 58,004
Hire purchase contracts 14,743 8,836
Trade creditors 162,598 121,035
Taxation and social security 149,885 195,096
Other creditors 372,367 261,912
754,588 644,883

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 95,837 145,833
Hire purchase contracts 73,527 23,586
169,364 169,419

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank loans 145,837 195,833
Hire purchase contracts 88,270 32,422
234,107 228,255

The bounce back loan is secured by the UK Government.

The hire purchase contracts are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
100 Ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
D Bird
Balance outstanding at start of year 92,740 120,242
Amounts advanced 42,890 85,000
Amounts repaid - (112,502 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 135,630 92,740

ZONE SYSTEMS LIMITED (REGISTERED NUMBER: 04766470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S E Cook
Balance outstanding at start of year 58,749 46,250
Amounts advanced - 50,000
Amounts repaid - (37,501 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 58,749 58,749

12. ULTIMATE CONTROLLING PARTY

The controlling party is Zone Systems Holdings Limited.