Company Registration No. 03889057 (England and Wales)
ZCARS LTD
Unaudited accounts
for the year ended 31 December 2023
ZCARS LTD
Unaudited accounts
Contents
ZCARS LTD
Company Information
for the year ended 31 December 2023
Company Number
03889057 (England and Wales)
Registered Office
GALLOWS FARM
HULL ROAD
ALDBROUGH
EAST YORKSHIRE
HU11 4RE
Accountants
SD ACCOUNTING SERVICES
8 MONMOUTH STREET
HULL
EAST YORKSHIRE
HU4 6QL
ZCARS LTD
Statement of financial position
as at 31 December 2023
Tangible assets
370,064
241,172
Inventories
108,000
68,000
Cash at bank and in hand
20,015
74,706
Creditors: amounts falling due within one year
(133,062)
(345,720)
Net current assets
49,796
147,082
Total assets less current liabilities
419,860
388,254
Creditors: amounts falling due after more than one year
(163,058)
-
Provisions for liabilities
Deferred tax
(28,343)
(45,424)
Net assets
228,459
342,830
Called up share capital
75
75
Share premium
73,491
73,491
Profit and loss account
154,893
269,264
Shareholders' funds
228,459
342,830
For the year ending 31 December 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 August 2024 and were signed on its behalf by
C. H. Allanson
Director
Company Registration No. 03889057
ZCARS LTD
Notes to the Accounts
for the year ended 31 December 2023
ZCARS LTD is a private company, limited by shares, registered in England and Wales, registration number 03889057. The registered office is GALLOWS FARM, HULL ROAD, ALDBROUGH, EAST YORKSHIRE, HU11 4RE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
6.66% cost and 25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
ZCARS LTD
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
34,709
656,994
79,711
19,773
791,187
Additions
-
19,815
399,790
-
419,605
Disposals
-
(9,628)
(207,928)
-
(217,556)
At 31 December 2023
34,709
667,181
271,573
19,773
993,236
At 1 January 2023
34,709
456,739
38,853
19,714
550,015
Charge for the year
-
41,488
66,219
15
107,722
On disposals
-
(2,407)
(32,158)
-
(34,565)
At 31 December 2023
34,709
495,820
72,914
19,729
623,172
At 31 December 2023
-
171,361
198,659
44
370,064
At 31 December 2022
-
200,255
40,858
59
241,172
Amounts falling due within one year
Trade debtors
14,200
310,000
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
39,746
-
Trade creditors
32,617
272,177
Taxes and social security
-
907
Other creditors
58,350
58,349
Loans from directors
2,349
14,287
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
163,058
-
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).