Company registration number 10148182 (England and Wales)
NEW ZEXIA LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
NEW ZEXIA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
NEW ZEXIA LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
63,500
Current assets
Debtors
4
317,304
383,936
Cash at bank and in hand
389
2,002
317,693
385,938
Creditors: amounts falling due within one year
5
(13,105)
Net current assets
317,693
372,833
Total assets less current liabilities
317,693
436,333
Creditors: amounts falling due after more than one year
6
(115,500)
Net assets
317,693
320,833
Capital and reserves
Called up share capital
7
950
950
Share premium account
319,730
319,730
Capital redemption reserve
110
110
Profit and loss reserves
(3,097)
43
Total equity
317,693
320,833
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
NEW ZEXIA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 August 2024 and are signed on its behalf by:
S Shalaby
Director
Company registration number 10148182 (England and Wales)
NEW ZEXIA LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 April 2022
970
319,730
153
320,853
Year ended 31 March 2023:
Profit and total comprehensive income for the year
-
-
-
Issue of share capital
7
90
-
-
90
Own shares acquired
-
-
-
(110)
(110)
Redemption of shares
7
(110)
110
Balance at 31 March 2023
950
319,730
110
43
320,833
Year ended 31 March 2024:
Loss and total comprehensive income for the year
-
-
-
(3,140)
(3,140)
Balance at 31 March 2024
950
319,730
110
(3,097)
317,693
NEW ZEXIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information
New Zexia Limited is a private company limited by shares incorporated in England and Wales. The registered office is Waterside House, 20 Riverside Way, Cowley, UXBRIDGE, Middlesex, UB8 2YF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is a recharge of costs to a company under common control.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Software
Estimated useful life of 10 years
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.
Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.
Basic financial liabilities
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
4
NEW ZEXIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Intangible fixed assets
Software
£
Cost
At 1 April 2023
220,000
Disposals
(220,000)
At 31 March 2024
Amortisation and impairment
At 1 April 2023
156,500
Amortisation charged for the year
1,833
Disposals
(158,333)
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023
63,500
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
257,086
Amounts owed by group undertakings
317,304
Other debtors
126,850
317,304
383,936
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
1,105
Other creditors
12,000
13,105
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
115,500
NEW ZEXIA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
95,000 Ordinary shares of 1p each
950
950
8
Related party transactions
The company is a wholly owned subsidiary and as such has taken advantage of the exemption permitted by Section 33 'Related Party Disclosures', not to provide disclosures of transactions entered into with its parent.