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REGISTERED NUMBER: 02152650 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Zapego Limited

Zapego Limited (Registered number: 02152650)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Zapego Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mrs C Maddison
Mr J Maddison





REGISTERED OFFICE: Wellington Chambers
61 Saville Street
North Shields
NE30 1AY





REGISTERED NUMBER: 02152650 (England and Wales)





ACCOUNTANTS: Douglas Shaw Limited
7 Brenkley Way
Blezard Business Park
Seaton Burn
Tyne and Wear
NE13 6DS

Zapego Limited (Registered number: 02152650)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 150,090 181,193
Investment property 5 130,000 130,000
280,090 311,193

CURRENT ASSETS
Stocks 27,257 21,633
Debtors 6 3,083,630 3,142,594
Cash at bank 162,973 136,498
3,273,860 3,300,725
CREDITORS
Amounts falling due within one year 7 1,572,833 1,557,076
NET CURRENT ASSETS 1,701,027 1,743,649
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,981,117

2,054,842

CREDITORS
Amounts falling due after more than
one year

8

132,116

218,258
NET ASSETS 1,849,001 1,836,584

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,848,999 1,836,582
1,849,001 1,836,584

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.

Zapego Limited (Registered number: 02152650)

Balance Sheet - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





Mr J Maddison - Director


Zapego Limited (Registered number: 02152650)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Zapego 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.

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.

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 - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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.


Zapego Limited (Registered number: 02152650)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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 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
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.

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 6 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2022
and 31 October 2023 55,000 155,852 6,558 116,749 334,159
DEPRECIATION
At 1 November 2022 - 81,899 2,115 68,952 152,966
Charge for year - 18,488 666 11,949 31,103
At 31 October 2023 - 100,387 2,781 80,901 184,069
NET BOOK VALUE
At 31 October 2023 55,000 55,465 3,777 35,848 150,090
At 31 October 2022 55,000 73,953 4,443 47,797 181,193


Zapego Limited (Registered number: 02152650)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 130,000
NET BOOK VALUE
At 31 October 2023 130,000
At 31 October 2022 130,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 708,966 948,441
Amounts owed by associates 2,092,064 2,068,064
Amounts recoverable on contract 282,000 100,637
Other debtors and prepayments 600 -
VAT - 25,452
3,083,630 3,142,594

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 69,060 63,624
Hire purchase contracts 17,082 21,189
Trade creditors 1,356,522 757,736
Tax 60,760 50,792
Social security and other taxes 18,363 20,119
VAT 2,649 -
Other creditors and accruals 36,307 643,616
Directors' loan accounts 12,090 -
1,572,833 1,557,076

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans - 1-2 years 87,281 69,060
Bank loans - 2-5 years 15,000 97,281
Bank loans more 5 yr by instal 12,917 17,917
Hire purchase contracts 16,918 34,000
132,116 218,258

Zapego Limited (Registered number: 02152650)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.10.23 31.10.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,917 17,917