3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 639,998 64,000 64,000 128,000 511,998 575,998 xbrli:pure xbrli:shares iso4217:GBP 04079825 2023-04-01 2024-03-31 04079825 2024-03-31 04079825 2023-03-31 04079825 2021-10-01 2023-03-31 04079825 2023-03-31 04079825 2021-09-30 04079825 bus:Director1 2023-04-01 2024-03-31 04079825 core:NetGoodwill 2023-03-31 04079825 core:NetGoodwill 2024-03-31 04079825 core:PlantMachinery 2023-03-31 04079825 core:PlantMachinery 2024-03-31 04079825 core:PlantMachinery 2023-04-01 2024-03-31 04079825 core:WithinOneYear 2024-03-31 04079825 core:WithinOneYear 2023-03-31 04079825 core:AfterOneYear 2024-03-31 04079825 core:AfterOneYear 2023-03-31 04079825 core:ShareCapital 2024-03-31 04079825 core:ShareCapital 2023-03-31 04079825 core:RetainedEarningsAccumulatedLosses 2024-03-31 04079825 core:RetainedEarningsAccumulatedLosses 2023-03-31 04079825 core:BetweenOneFiveYears 2024-03-31 04079825 core:BetweenOneFiveYears 2023-03-31 04079825 core:MoreThanFiveYears 2024-03-31 04079825 core:MoreThanFiveYears 2023-03-31 04079825 core:NetGoodwill 2023-04-01 2024-03-31 04079825 core:NetGoodwill 2023-03-31 04079825 core:PlantMachinery 2023-03-31 04079825 bus:SmallEntities 2023-04-01 2024-03-31 04079825 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04079825 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04079825 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04079825 bus:FullAccounts 2023-04-01 2024-03-31 04079825 core:OfficeEquipment 2023-03-31 04079825 core:OfficeEquipment 2023-04-01 2024-03-31 04079825 core:OfficeEquipment 2024-03-31 04079825 core:AfterOneYear 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 04079825
Zest Financial Consultants Limited
Filleted Unaudited Financial Statements
31 March 2024
Zest Financial Consultants Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
511,998
575,998
Tangible assets
6
7,322
6,230
---------
---------
519,320
582,228
Current assets
Cash at bank and in hand
62,687
36,519
Creditors: amounts falling due within one year
7
308,030
329,298
---------
---------
Net current liabilities
245,343
292,779
---------
---------
Total assets less current liabilities
273,977
289,449
Creditors: amounts falling due after more than one year
8
255,798
274,775
---------
---------
Net assets
18,179
14,674
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
18,079
14,574
--------
--------
Shareholders funds
18,179
14,674
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Zest Financial Consultants Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 22 August 2024 , and are signed on behalf of the board by:
Mr J Riley
Director
Company registration number: 04079825
Zest Financial Consultants Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 608 Kingston Road, Raynes Park, London, SW20 8DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
useful economic life of 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
33% straight line
Office equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
639,998
---------
Amortisation
At 1 April 2023
64,000
Charge for the year
64,000
---------
At 31 March 2024
128,000
---------
Carrying amount
At 31 March 2024
511,998
---------
At 31 March 2023
575,998
---------
6. Tangible assets
Computer equipment
Office equipment
Total
£
£
£
Cost
At 1 April 2023
6,730
1,619
8,349
Additions
289
3,594
3,883
-------
-------
--------
At 31 March 2024
7,019
5,213
12,232
-------
-------
--------
Depreciation
At 1 April 2023
1,771
348
2,119
Charge for the year
2,308
483
2,791
-------
-------
--------
At 31 March 2024
4,079
831
4,910
-------
-------
--------
Carrying amount
At 31 March 2024
2,940
4,382
7,322
-------
-------
--------
At 31 March 2023
4,959
1,271
6,230
-------
-------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
25,425
23,974
Corporation tax
33,148
27,372
Social security and other taxes
2,685
1,194
Other creditors
246,772
276,758
---------
---------
308,030
329,298
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
255,798
274,775
---------
---------
The debenture is secured by a fixed and floating charge in relation to securing all monies due or becoming in favour of Barclays Security Trustee Limited dated 13 April 2022.
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
16,250
16,250
Later than 1 year and not later than 5 years
48,750
48,750
Later than 5 years
25,733
41,983
--------
---------
90,733
106,983
--------
---------
10. Director's advances, credits and guarantees
At 31 March 2024 the company owed Mr J Riley £240,669 (2023 - £253,694). This amount is included within other creditors falling due within one year and is shown in the notes to the financial statements.