2023-06-012024-05-312024-05-31false13427964Zion Projects 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Zion Projects Ltd

Registered Number
13427964
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

Zion Projects Ltd
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

Marritt, Zoe Elizabeth

Registered Address

41 Captains Close
Goole
DN14 6AB

Registered Number

13427964 (England and Wales)
Zion Projects Ltd
Statement of Financial Position
31 May 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks500-
Debtors31,6451,365
Cash at bank and on hand9,1279,189
11,27210,554
Creditors amounts falling due within one year4(10,760)(8,825)
Net current assets (liabilities)5121,729
Total assets less current liabilities5121,729
Net assets5121,729
Capital and reserves
Called up share capital100100
Profit and loss account4121,629
Shareholders' funds5121,729
The financial statements were approved and authorised for issue by the Director on 31 July 2024, and are signed on its behalf by:
Marritt, Zoe Elizabeth
Director
Registered Company No. 13427964
Zion Projects Ltd
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year00
3.Debtors: amounts due within one year

2024

2023

££
Other debtors1,6451,365
Total1,6451,365
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security184119
Other creditors9,6137,813
Accrued liabilities and deferred income963893
Total10,7608,825
5.Related party transactions
At the balance sheet date, the company owed £9,613 (2023 - £7,813) to directors. No interest has been charged to the company in respect of this loan which is repayable on demand and is presented within creditors due within one year.