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REGISTERED NUMBER: 07197681 (England and Wales)











REPORT OF THE DIRECTORS AND

UNAUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ZIZTEL LIMITED

ZIZTEL LIMITED (REGISTERED NUMBER: 07197681)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Report of the Directors 2

Consolidated Statement of Income and Retained Earnings 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Notes to the Consolidated Financial Statements 8


ZIZTEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: N E Cumberland
N J Dickens
J C Blach





REGISTERED OFFICE: 96 Rolleston Drive
Arnold
Nottingham
Nottinghamshire
NG5 7JP





REGISTERED NUMBER: 07197681 (England and Wales)





ACCOUNTANTS: Lemans
29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA

ZIZTEL LIMITED (REGISTERED NUMBER: 07197681)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2024.

REVIEW OF BUSINESS
The financial year ended 31 March 2024 resulted in a number of significant events for Ziztel.

On 21 September 2023 the company acquired, by way of a share swap, 100% of the capital of Zizcam Limited, a designer and manufacturer of cameras for safety critical applications. Zizcam has been a supplier to Ziztel for a number of years but technical developments have resulted in rapid growth in demand for its products. The shareholders believe the continued growth was best served under unitary management and a single commercial structure. This is justified by Zizcam contributing £247,000 to the consolidated profits declared below.

The year saw record order intake in excess of £10m. While continuing to operate with oil and gas operators in asset and personal protection, the company is part of the transition away from fossil fuels with significant increase in revenue from global wind and nuclear facilities. With the companies range of lighter weight, energy efficient products on smaller installations represent opportunities for further growth in future years.

Sales increased 66% year on year to £6.96m and gross profit increased to 35%, up from 13% in the prior year. While sales mix impacts year on year comparisons the directors believe the current year performance is at the top end of the range with 30% being a more realistic medium term objective.

During the year bank and other debt has reduced by £458,000. The directors believe this rate of reduction will continue and anticipate to be debt free in 2027, subject to the requirement for bank facilities for working capital purposes.

At the time of writing the Group had sufficient order cover to achieve sales in excess of £10m the year to March 25, representing a further 43% growth. There has been investment in business development and operational headcount to ensure the right resources are in place to manage the growth prospects. We also see projects where the Company's products are already specified which have been dormant for a number of years returning as live investment plans. All of the above results in the Board being confident of the Group's prospects for the foreseeable future.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

N E Cumberland
N J Dickens
J C Blach

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





N J Dickens - Director


21 August 2024

ZIZTEL LIMITED (REGISTERED NUMBER: 07197681)

CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 6,963,430 4,172,349

Cost of sales 4,520,756 3,640,940
GROSS PROFIT 2,442,674 531,409

Administrative expenses 1,555,581 854,622
887,093 (323,213 )

Other operating income 20,000 319,014
OPERATING PROFIT/(LOSS) 4 907,093 (4,199 )

Interest receivable and similar income 77 205
907,170 (3,994 )

Interest payable and similar expenses 79,908 58,438
PROFIT/(LOSS) BEFORE TAXATION 827,262 (62,432 )

Tax on profit/(loss) 188,006 (358,024 )
PROFIT FOR THE FINANCIAL YEAR 639,256 295,592

Retained earnings at beginning of year 317,123 179,739

Dividends (43,618 ) (158,208 )

RETAINED EARNINGS FOR THE
GROUP AT END OF YEAR

912,761

317,123

Profit attributable to:
Owners of the parent 639,256 295,592

ZIZTEL LIMITED (REGISTERED NUMBER: 07197681)

CONSOLIDATED BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 823,013 15,518
Tangible assets 7 39,065 13,922
Investments 8 - -
862,078 29,440

CURRENT ASSETS
Stocks 1,102,980 410,653
Debtors 9 2,390,630 2,543,351
Cash at bank and in hand 139,750 40,437
3,633,360 2,994,441
CREDITORS
Amounts falling due within one year 10 3,281,369 2,107,979
NET CURRENT ASSETS 351,991 886,462
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,214,069

915,902

CREDITORS
Amounts falling due after more than one year 11 301,107 598,678
NET ASSETS 912,962 317,224

CAPITAL AND RESERVES
Called up share capital 12 201 101
Retained earnings 912,761 317,123
SHAREHOLDERS' FUNDS 912,962 317,224

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

ZIZTEL LIMITED (REGISTERED NUMBER: 07197681)

CONSOLIDATED BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





N J Dickens - Director


ZIZTEL LIMITED (REGISTERED NUMBER: 07197681)

COMPANY BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 10,345 15,518
Tangible assets 7 39,065 13,922
Investments 8 100 -
49,510 29,440

CURRENT ASSETS
Stocks 341,720 410,653
Debtors 9 3,437,252 2,543,351
Cash at bank and in hand 139,750 40,437
3,918,722 2,994,441
CREDITORS
Amounts falling due within one year 10 2,930,254 2,107,979
NET CURRENT ASSETS 988,468 886,462
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,037,978

915,902

CREDITORS
Amounts falling due after more than one year 11 301,107 598,678
NET ASSETS 736,871 317,224

CAPITAL AND RESERVES
Called up share capital 12 201 101
Retained earnings 736,670 317,123
SHAREHOLDERS' FUNDS 736,871 317,224

Company's profit for the financial year 463,165 295,592

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ZIZTEL LIMITED (REGISTERED NUMBER: 07197681)

COMPANY BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





N J Dickens - Director


ZIZTEL LIMITED (REGISTERED NUMBER: 07197681)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Ziztel 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual Property Rights are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over lease term : straight line basis
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost

Stocks
Stocks 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 Consolidated Statement of Income and Retained Earnings, 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.


ZIZTEL LIMITED (REGISTERED NUMBER: 07197681)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 28 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 2 (2023 - NIL ) .

4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

31.3.24 31.3.23
£    £   
Depreciation - owned assets 12,888 14,553
Goodwill amortisation 42,766 -
Intellectual Property Rights amortisation 5,173 5,172

5. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


ZIZTEL LIMITED (REGISTERED NUMBER: 07197681)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. INTANGIBLE FIXED ASSETS

Group
Intellectual
Property
Goodwill Rights Totals
£    £    £   
COST
At 1 April 2023 - 51,725 51,725
Additions 855,434 - 855,434
At 31 March 2024 855,434 51,725 907,159
AMORTISATION
At 1 April 2023 - 36,207 36,207
Amortisation for year 42,766 5,173 47,939
At 31 March 2024 42,766 41,380 84,146
NET BOOK VALUE
At 31 March 2024 812,668 10,345 823,013
At 31 March 2023 - 15,518 15,518

Company
Intellectual
Property
Rights
£   
COST
At 1 April 2023
and 31 March 2024 51,725
AMORTISATION
At 1 April 2023 36,207
Amortisation for year 5,173
At 31 March 2024 41,380
NET BOOK VALUE
At 31 March 2024 10,345
At 31 March 2023 15,518

ZIZTEL LIMITED (REGISTERED NUMBER: 07197681)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 44,652 16,213 94,459 155,324
Additions 11,653 15,341 11,037 38,031
Reclassification/transfer - - 698 698
At 31 March 2024 56,305 31,554 106,194 194,053
DEPRECIATION
At 1 April 2023 44,652 16,176 80,574 141,402
Charge for year 1,526 1,781 9,581 12,888
Reclassification/transfer - - 698 698
At 31 March 2024 46,178 17,957 90,853 154,988
NET BOOK VALUE
At 31 March 2024 10,127 13,597 15,341 39,065
At 31 March 2023 - 37 13,885 13,922

Company
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 44,652 16,213 94,459 155,324
Additions 11,653 15,341 11,037 38,031
At 31 March 2024 56,305 31,554 105,496 193,355
DEPRECIATION
At 1 April 2023 44,652 16,176 80,574 141,402
Charge for year 1,526 1,781 9,581 12,888
At 31 March 2024 46,178 17,957 90,155 154,290
NET BOOK VALUE
At 31 March 2024 10,127 13,597 15,341 39,065
At 31 March 2023 - 37 13,885 13,922

ZIZTEL LIMITED (REGISTERED NUMBER: 07197681)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
Additions 100
At 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Zizcam Limited
Registered office: United Kingdom
Nature of business: Specialist video systems
%
Class of shares: holding
Ordinary A to F £0.10 100.00
31.3.24
£   
Aggregate capital and reserves (636,477 )
Profit for the year 85,605

On the 21 September 2023 Zizcam Limited became a wholly owned subsidiary of Ziztel Limited.


9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Trade debtors 1,740,158 996,605 1,740,158 996,605
Amounts owed by group undertakings - - 1,308,795 -
Other debtors 132,303 1,140,375 119,979 1,140,375
Deferred tax asset 437,020 358,024 198,568 358,024
Prepayments 81,149 48,347 69,752 48,347
2,390,630 2,543,351 3,437,252 2,543,351

ZIZTEL LIMITED (REGISTERED NUMBER: 07197681)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Bank loans and overdrafts 327,092 488,512 327,102 488,512
Other loans 35,304 - - -
Trade creditors 1,323,612 850,734 1,236,512 850,734
Corporation tax 15 - 15 -
Social security and other taxes 34,502 34,572 34,502 34,572
Other creditors 95,107 142,960 95,107 142,960
Directors' current accounts - 2,000 - 2,000
Accruals and deferred income 1,465,737 589,201 1,237,016 589,201
3,281,369 2,107,979 2,930,254 2,107,979

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
31.3.24 31.3.23 31.3.24 31.3.23
£    £    £    £   
Bank loans 301,107 598,678 301,107 598,678

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number Class Nominal 31.03.24 31.03.23
Value
£ £ £

1 Ordinary £1.00 1 1
350 Ordinary A £0.10 35 35
300 Ordinary B £0.10 30 30
100 Ordinary C £0.10 10 10
25 Ordinary D £0.10 2.5 2.5
100 Ordinary E £0.10 10 10
25 Ordinary G £0.10 2.5 2.5
100 Ordinary H £0.10 10 10
1,000 Ordinary K £0.10 100 -
201 101
On the 21 September 2023 Ziztel Limited acquired 100% of the 1,000 10p Ordinary shares in Zizcam Limited by way of a share for share exchange for 1,000 10p Ordinary K shares.