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REGISTERED NUMBER: 07427773 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ZENITH CONTRACT SERVICES LIMITED

ZENITH CONTRACT SERVICES LIMITED (REGISTERED NUMBER: 07427773)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ZENITH CONTRACT SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A Irwin
M Hancox
C Richards





REGISTERED OFFICE: Unit 4
205 Torrington Avenue,
Coventry
West Midlands
CV4 9UT





REGISTERED NUMBER: 07427773 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
5 Argosy Court
Scimitar Way
Whitley Business Park
Coventry
CV3 4GA

ZENITH CONTRACT SERVICES LIMITED (REGISTERED NUMBER: 07427773)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 125,167 133,667
Tangible assets 5 217,576 85,007
342,743 218,674

CURRENT ASSETS
Stocks 101,441 55,126
Debtors 6 1,347,763 1,102,369
Cash at bank and in hand 66,668 7,135
1,515,872 1,164,630
CREDITORS
Amounts falling due within one year 7 1,317,479 1,142,820
NET CURRENT ASSETS 198,393 21,810
TOTAL ASSETS LESS CURRENT
LIABILITIES

541,136

240,484

CREDITORS
Amounts falling due after more than one
year

8

(199,473

)

(113,463

)

PROVISIONS FOR LIABILITIES (37,779 ) (2,767 )
NET ASSETS 303,884 124,254

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings 303,785 124,155
SHAREHOLDERS' FUNDS 303,884 124,254

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

ZENITH CONTRACT SERVICES LIMITED (REGISTERED NUMBER: 07427773)

BALANCE SHEET - continued
31 MARCH 2024


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 31 July 2024 and were signed on its behalf by:





A Irwin - Director


ZENITH CONTRACT SERVICES LIMITED (REGISTERED NUMBER: 07427773)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Zenith Contract Services 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.

The directors confirmed that in their opinion the company will have adequate cash resources available to finance its trading and meet its obligations during the course of the next twelve months.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

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.

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
Motor vehicles - 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.

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.

ZENITH CONTRACT SERVICES LIMITED (REGISTERED NUMBER: 07427773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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.

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 119 (2023 - 124 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 145,000
AMORTISATION
At 1 April 2023 11,333
Charge for year 8,500
At 31 March 2024 19,833
NET BOOK VALUE
At 31 March 2024 125,167
At 31 March 2023 133,667

ZENITH CONTRACT SERVICES LIMITED (REGISTERED NUMBER: 07427773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 50,082 5,000 68,185 3,463 126,730
Additions 145,776 2,600 - 6,982 155,358
At 31 March 2024 195,858 7,600 68,185 10,445 282,088
DEPRECIATION
At 1 April 2023 20,116 1,332 19,113 1,162 41,723
Charge for year 7,999 863 12,667 1,260 22,789
At 31 March 2024 28,115 2,195 31,780 2,422 64,512
NET BOOK VALUE
At 31 March 2024 167,743 5,405 36,405 8,023 217,576
At 31 March 2023 29,966 3,668 49,072 2,301 85,007

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 68,185
DEPRECIATION
At 1 April 2023 19,113
Charge for year 12,667
At 31 March 2024 31,780
NET BOOK VALUE
At 31 March 2024 36,405
At 31 March 2023 49,072

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,324,178 1,029,080
Amounts owed by group undertakings 1,500 23,500
Other debtors 22,085 49,789
1,347,763 1,102,369

ZENITH CONTRACT SERVICES LIMITED (REGISTERED NUMBER: 07427773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 37,599 25,252
Trade creditors 400,579 327,377
Taxation and social security 292,755 268,289
Other creditors 586,546 521,902
1,317,479 1,142,820

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 99,473 13,463
Other creditors 100,000 100,000
199,473 113,463

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 56,435 29,509
Between one and five years 123,861 17,365
180,296 46,874

Finance charges repayable:
Within one year 18,836 4,257
Between one and five years 24,388 3,902
43,224 8,159

Net obligations repayable:
Within one year 37,599 25,252
Between one and five years 99,473 13,463
137,072 38,715

ZENITH CONTRACT SERVICES LIMITED (REGISTERED NUMBER: 07427773)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 22,532 50,255
Between one and five years 6,319 28,850
28,851 79,105

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Factoring company 572,708 474,830

Close Brothers Limited hold a fixed and floating charge over all property or undertaking of the company.

11. RELATED PARTY DISCLOSURES

There is no ultimate controlling party.