ZOOMGRAFIX UK LIMITED

Company Registration Number:
02438888 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2023

Period of accounts

Start date: 01 September 2022

End date: 31 August 2023

ZOOMGRAFIX UK LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2023

Balance sheet
Notes

ZOOMGRAFIX UK LIMITED

Balance sheet

As at 31 August 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 36,295 18,444
Total fixed assets: 36,295 18,444
Current assets
Debtors:   89,428 311,948
Cash at bank and in hand: 251,423 57,991
Total current assets: 340,851 369,939
Creditors: amounts falling due within one year: 4 (19,075) (15,975)
Net current assets (liabilities): 321,776 353,964
Total assets less current liabilities: 358,071 372,408
Total net assets (liabilities): 358,071 372,408
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 357,971 372,308
Shareholders funds: 358,071 372,408

The notes form part of these financial statements

ZOOMGRAFIX UK LIMITED

Balance sheet statements

For the year ending 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 July 2024
and signed on behalf of the board by:

Name: E. Grant
Status: Director

The notes form part of these financial statements

ZOOMGRAFIX UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the aggregate rentals receivable from operating leases, and the provision of research and development services, excluding VAT.

Tangible fixed assets and depreciation policy

Depreciation is provided, at the following annual rates in order to write off each asset over its estimated useful life: Motor vehicles - over 3 years on cost

Other accounting policies

LeasesIn accordance with Statement of Standard Accounting Practice 21, all assets held for use in operating leases have been recorded as fixed assets and depreciated over their useful lives. The aggregate rental income arising on these leases in respect of the year has been taken to the profit and loss account. Financial leases where substantially all the risks and rewards of ownership of assets have passed from the company, and hire purchase contracts are included in debtors, net of financial charges.DebtorsShort term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.CreditorsShort term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.ProvisionsProvisions i.e. liabilities of uncertain timing or amount) arerecognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.TaxationA current tax liability is recognised for the tax payable on thetaxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets arerecognised 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

ZOOMGRAFIX UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

2. Employees

2023 2022
Average number of employees during the period 2 2

ZOOMGRAFIX UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

3. Tangible Assets

Total
Cost £
At 01 September 2022 86,337
Additions 29,287
Disposals (15,800)
At 31 August 2023 99,824
Depreciation
At 01 September 2022 67,893
Charge for year 11,436
On disposals (15,800)
At 31 August 2023 63,529
Net book value
At 31 August 2023 36,295
At 31 August 2022 18,444

ZOOMGRAFIX UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

4. Creditors: amounts falling due within one year note

2023 2022Trade creditors 4,213 -Corporation Tax - 533Other taxation 810 417Other creditors and accruals 14,052 15,025 --------- ---------- £ 19,075 £ 15,975 ===== =====

ZOOMGRAFIX UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

5. Related party transactions

Name of the related party:
Relationship:
Affiliated company
Description of the Transaction: The balance outstanding included in debtors is £ 63,000 plus accrued income of £ 25,000 (2022: £ 311,750 and £ Nil) wasreceivable on the short term advance.
£
Balance at 01 September 2022 311,750
Balance at 31 August 2023 88,000