REGISTERED NUMBER: |
Z Spars International Limited |
Financial Statements |
For The Year Ended |
30th November 2023 |
REGISTERED NUMBER: |
Z Spars International Limited |
Financial Statements |
For The Year Ended |
30th November 2023 |
Z Spars International Limited (Registered number: 01407783) |
Contents of the Financial Statements |
For The Year Ended 30th November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 5 |
Z Spars International Limited |
Company Information |
For The Year Ended 30th November 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
8 Hopper Way |
Diss |
Norfolk |
IP22 4GT |
Z Spars International Limited (Registered number: 01407783) |
Balance Sheet |
30th November 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Z Spars International Limited (Registered number: 01407783) |
Notes to the Financial Statements |
For The Year Ended 30th November 2023 |
1. | STATUTORY INFORMATION |
Z Spars International Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Freehold property | - |
Plant and machinery | - |
Motor vehicles | - |
Freehold land is not depreciated. |
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. |
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. |
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. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Z Spars International Limited (Registered number: 01407783) |
Notes to the Financial Statements - continued |
For The Year Ended 30th November 2023 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1st December 2022 |
Additions |
At 30th November 2023 |
DEPRECIATION |
At 1st December 2022 |
Charge for year |
At 30th November 2023 |
NET BOOK VALUE |
At 30th November 2023 |
At 30th November 2022 |
Cost or valuation at 30th November 2023 is represented by: |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
Valuation in 2020 | 300,000 | - | - | 300,000 |
Valuation in 2003 | 69,267 | - | - | 69,267 |
Cost | 280,733 | 141,309 | 50,791 | 472,833 |
650,000 | 141,309 | 50,791 | 842,100 |
If the freehold land and building had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 280,733 | 280,733 |
Aggregate depreciation | 89,831 | 84,217 |
Freehold land and buildings were valued on an open market basis on 23rd March 2020 by Fenn Wright, Chartered Surveyors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings | 2,462 | 438 |
Other debtors |
Z Spars International Limited (Registered number: 01407783) |
Notes to the Financial Statements - continued |
For The Year Ended 30th November 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 80 | 80 |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1st December 2022 |
and 30th November 2023 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | RELATED PARTY DISCLOSURES |
During the year the company sold good to Z Diffusion,its immediate parent company, of £2,024 (2022 - £5,925), and bought goods from them for £89,070 (2022 - £70,571).At the year end the company was owed £2,462 (2022 - £438). |
During the year the company sold good to US Spars, another company in the same group, of £1,748 (2022 - £1,215), and bought goods from them for £nil (2022 - £749) .At the year end the company was owed £nil (2022 - £1,332). |