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REGISTERED NUMBER: 01407783 (England and Wales)















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: L M M Gilbert





SECRETARY: A D Smith





REGISTERED OFFICE: Unit 2 Pond Hall Road
Hadleigh
Suffolk
IP7 5PW





REGISTERED NUMBER: 01407783 (England and Wales)





AUDITORS: Haines Watts
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 5 693,758 659,027

CURRENT ASSETS
Stocks 270,557 258,781
Debtors 6 37,840 73,507
Cash at bank 874,097 863,516
1,182,494 1,195,804
CREDITORS
Amounts falling due within one year 7 51,673 76,204
NET CURRENT ASSETS 1,130,821 1,119,600
TOTAL ASSETS LESS CURRENT LIABILITIES 1,824,579 1,778,627

PROVISIONS FOR LIABILITIES 73,804 73,804
NET ASSETS 1,750,775 1,704,823

CAPITAL AND RESERVES
Called up share capital 8 80 80
Revaluation reserve 9 465,267 465,267
Capital redemption reserve 20 20
Retained earnings 1,285,408 1,239,456
SHAREHOLDERS' FUNDS 1,750,775 1,704,823

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 director and authorised for issue on 1st August 2024 and were signed by:





L M M Gilbert - Director


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 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.
Freehold property - 2% on cost of buildings only
Plant and machinery - 15% on reducing balance
Motor vehicles - 15% on reducing balance

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 7 (2022 - 6 ) .

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 650,000 123,244 13,328 786,572
Additions - 18,065 37,463 55,528
At 30th November 2023 650,000 141,309 50,791 842,100
DEPRECIATION
At 1st December 2022 - 115,439 12,106 127,545
Charge for year 7,000 6,467 7,330 20,797
At 30th November 2023 7,000 121,906 19,436 148,342
NET BOOK VALUE
At 30th November 2023 643,000 19,403 31,355 693,758
At 30th November 2022 650,000 7,805 1,222 659,027

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 27,302 61,260
Amounts owed by group undertakings 2,462 438
Other debtors 8,076 11,809
37,840 73,507

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 3,055 1,639
Amounts owed to group undertakings - 1,332
Taxation and social security 17,880 32,886
Other creditors 30,738 40,347
51,673 76,204

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
80 Ordinary £1 80 80

9. RESERVES
Revaluation
reserve
£   
At 1st December 2022
and 30th November 2023 465,267

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Simonetta Castellano FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts

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).