Registered number
11561174
ZS Academy Limited
Filleted Accounts
30 September 2023
ZS Academy Limited
Registered number: 11561174
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 4 - 2,851
Tangible assets 5 1 2,520
1 5,371
Current assets
Debtors 6 45,941 50,446
Cash at bank and in hand 610 5
46,551 50,451
Creditors: amounts falling due within one year 7 (50,036) (67,553)
Net current liabilities (3,485) (17,102)
Total assets less current liabilities (3,484) (11,731)
Creditors: amounts falling due after more than one year 8 (11,499) (13,499)
Net liabilities (14,983) (25,230)
Capital and reserves
Called up share capital 100 100
Profit and loss account (15,083) (25,330)
Shareholders' funds (14,983) (25,230)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J R Slate
Director
Approved by the board on 12 August 2024
ZS Academy Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.
Intangible fixed assets: cryptocurrency assets
The cryptocurrency assets are recorded as intangible assets and are measured at cost less any accumulative impairment losses. The assets are held for investment purposes and therefore cannot be recognised as inventory as they are not held for sale in the ordinary course of business.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice 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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable 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 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. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Loss on disposal of intangible fixed assets 2023 2022
£ £
Proceeds on disposal of intangibles 149 146,743
Cost on disposal of intangibles (2,851) (146,541)
(2,702) 202
4 Intangible fixed assets £
Cryptocurrency assets
Cost
At 1 October 2022 2,851
Disposals (2,851)
At 30 September 2023 -
Amortisation
At 30 September 2023 -
Net book value
At 30 September 2023 -
At 30 September 2022 2,851
5 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022 12,600
At 30 September 2023 12,600
Depreciation
At 1 October 2022 10,080
Charge for the year 2,519
At 30 September 2023 12,599
Net book value
At 30 September 2023 1
At 30 September 2022 2,520
6 Debtors 2023 2022
£ £
Trade debtors 10,420 11,197
Deferred tax asset 3,039 6,077
Other debtors 32,482 33,172
45,941 50,446
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,000 2,000
Trade creditors 30,000 30,000
Other creditors 18,036 35,553
50,036 67,553
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 11,499 13,499
9 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 3,500 5,500
The bank loan is repayable in instalments over 10 years and is charged at a fixed interest rate of 2.5%.
10 Related party transactions
As at 30 September 2023, the balance due to Ivydore Holdings Limited, a company in which the Director has an interest amounted to £32,033 (2022 - £28,403).
11 Controlling party
The company is under the joint control of the Directors by virtue of their shareholdings.
12 Other information
ZS Academy Limited is a private company limited by shares and incorporated in England. Its registered office is:
6 Crown Square
Poundbury
Dorchester
DT1 3EN
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