IRIS Accounts Production v24.1.0.578 05861081 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh058610812022-12-31058610812023-12-31058610812023-01-012023-12-31058610812021-12-31058610812022-01-012022-12-31058610812022-12-3105861081ns15:EnglandWales2023-01-012023-12-3105861081ns14:PoundSterling2023-01-012023-12-3105861081ns10:Director12023-01-012023-12-3105861081ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105861081ns10:SmallEntities2023-01-012023-12-3105861081ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3105861081ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105861081ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105861081ns10:FullAccounts2023-01-012023-12-3105861081ns10:Director22023-01-012023-12-3105861081ns10:RegisteredOffice2023-01-012023-12-3105861081ns5:CurrentFinancialInstruments2023-12-3105861081ns5:CurrentFinancialInstruments2022-12-3105861081ns5:ShareCapital2023-12-3105861081ns5:ShareCapital2022-12-3105861081ns5:RetainedEarningsAccumulatedLosses2023-12-3105861081ns5:RetainedEarningsAccumulatedLosses2022-12-310586108112023-01-012023-12-3105861081ns5:PlantMachinery2022-12-3105861081ns5:PlantMachinery2023-12-3105861081ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105861081ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 05861081 (England and Wales)












Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

Zirax (UK) Limited

Zirax (UK) Limited (Registered number: 05861081)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Report of the Directors 2

Report of the Accountants 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 6


Zirax (UK) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs N Louis
Mr N Louis



REGISTERED OFFICE: 14 Old Queen Street
London
SW1H 9HP



REGISTERED NUMBER: 05861081 (England and Wales)



ACCOUNTANTS: Hawksford UK Services Limited
123 Pall Mall
St. James's
London
SW1Y 5EA



SOLICITORS: Phanar Legal Limited
14 Old Queen Street
London
SW1H 9HP

Zirax (UK) Limited (Registered number: 05861081)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of The company's principal activity is the sale of specialty chemicals based on Calcium Chloride for oilfield processes, de-icing solutions and wider industrial applications.

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

Mrs N Louis
Mr N Louis

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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:





Mr N Louis - Director


10 September 2024

Zirax (UK) Limited

Report of the Accountants to the Directors of
Zirax (UK) Limited


As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2023 set out on pages four to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Hawksford UK Services Limited
123 Pall Mall
St. James's
London
SW1Y 5EA


12 September 2024

Zirax (UK) Limited (Registered number: 05861081)

Income Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
£'000 £'000

TURNOVER 4,271 4,504

Cost of sales (3,381 ) (3,545 )
GROSS PROFIT 890 959

Distribution costs (231 ) (306 )
Administrative expenses (219 ) (180 )
440 473

Other operating income (31 ) 8
409 481


Interest payable and similar expenses - (4 )
PROFIT BEFORE TAXATION 409 477

Tax on profit (96 ) (26 )
PROFIT FOR THE FINANCIAL YEAR 313 451

Zirax (UK) Limited (Registered number: 05861081)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £'000 £'000
CURRENT ASSETS
Debtors 5 191 109
Cash at bank 745 329
936 438
CREDITORS
Amounts falling due within one year 6 (421 ) (236 )
NET CURRENT ASSETS 515 202
TOTAL ASSETS LESS CURRENT
LIABILITIES

515

202

CAPITAL AND RESERVES
Called up share capital - -
Retained earnings 515 202
SHAREHOLDERS' FUNDS 515 202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 10 September 2024 and were signed on its behalf by:





Mr N Louis - Director


Zirax (UK) Limited (Registered number: 05861081)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Zirax (UK) 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 Company Information page.

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.

Critical accounting estimates and judgements
The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and operating costs during the reporting period. The most significant estimates relate to reliability and depreciable lives of property plant and equipment, allowances for bad and doubtful debts and obsolete inventory, and deferred taxation. Actual results could differ from the estimates.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Trade and other receivables (including advance payments)
Trade receivables are valued initially at fair value and subsequently measured at amortised cost using the effective interest method, less provisions for impairment. A provision for impairment of trade receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. Significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganisation, and default or delinquency in payments are considered indicators that the trade receivable is impaired. The amount of the provision is the difference between the carrying amount and the recoverable amount, being the present value of expected cash flows, discounted at the market rate of interest for similar borrowers. The amount of the provision is recognised in the income statement. When a trade receivable is uncollectible, it is written off.

Capital risk management
The company's objectives when managing capital are to safeguard the company's ability to continue as a going concern in order to provide returns for the company's shareholder and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.

Zirax (UK) Limited (Registered number: 05861081)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£'000
COST
At 1 January 2023
and 31 December 2023 2
DEPRECIATION
At 1 January 2023
and 31 December 2023 2
NET BOOK VALUE
At 31 December 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£'000 £'000
Trade debtors 154 75
Other debtors 37 34
191 109

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£'000 £'000
Trade creditors 312 191
Taxation and social security 96 26
Other creditors 13 19
421 236

7. ULTIMATE CONTROLLING PARTY

Nicholas Louis is ultimate controlling party.