Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-262023-12-262023-12-26The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2022-12-27falseNo description of principal activityfalsetrue 11434483 2022-12-27 2023-12-26 11434483 2021-12-27 2022-12-26 11434483 2023-12-26 11434483 2022-12-26 11434483 c:Director1 2022-12-27 2023-12-26 11434483 d:FurnitureFittings 2022-12-27 2023-12-26 11434483 d:FurnitureFittings 2023-12-26 11434483 d:FurnitureFittings 2022-12-26 11434483 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-27 2023-12-26 11434483 d:OfficeEquipment 2022-12-27 2023-12-26 11434483 d:OfficeEquipment 2023-12-26 11434483 d:OfficeEquipment 2022-12-26 11434483 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-27 2023-12-26 11434483 d:ComputerEquipment 2022-12-27 2023-12-26 11434483 d:ComputerEquipment 2023-12-26 11434483 d:ComputerEquipment 2022-12-26 11434483 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-12-27 2023-12-26 11434483 d:OwnedOrFreeholdAssets 2022-12-27 2023-12-26 11434483 d:CurrentFinancialInstruments 2023-12-26 11434483 d:CurrentFinancialInstruments 2022-12-26 11434483 d:Non-currentFinancialInstruments 2023-12-26 11434483 d:Non-currentFinancialInstruments 2022-12-26 11434483 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-26 11434483 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-26 11434483 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-26 11434483 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-26 11434483 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-26 11434483 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-26 11434483 d:ShareCapital 2023-12-26 11434483 d:ShareCapital 2022-12-26 11434483 d:OtherMiscellaneousReserve 2022-12-27 2023-12-26 11434483 d:RetainedEarningsAccumulatedLosses 2023-12-26 11434483 d:RetainedEarningsAccumulatedLosses 2022-12-26 11434483 d:RetainedEarningsAccumulatedLosses 2021-12-27 11434483 c:FRS102 2022-12-27 2023-12-26 11434483 c:AuditExemptWithAccountantsReport 2022-12-27 2023-12-26 11434483 c:FullAccounts 2022-12-27 2023-12-26 11434483 c:PrivateLimitedCompanyLtd 2022-12-27 2023-12-26 11434483 d:Subsidiary1 2022-12-27 2023-12-26 11434483 d:Subsidiary1 1 2022-12-27 2023-12-26 11434483 d:Subsidiary2 2022-12-27 2023-12-26 11434483 d:Subsidiary2 1 2022-12-27 2023-12-26 11434483 d:Subsidiary3 2022-12-27 2023-12-26 11434483 d:Subsidiary3 1 2022-12-27 2023-12-26 11434483 c:Consolidated 2023-12-26 11434483 c:ConsolidatedGroupCompanyAccounts 2022-12-27 2023-12-26 11434483 6 2022-12-27 2023-12-26 11434483 e:PoundSterling 2022-12-27 2023-12-26 iso4217:GBP xbrli:pure

Registered number: 11434483









ZEREN SEARCH LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 26 DECEMBER 2023

 
ZEREN SEARCH LTD
 
 
  
CHARTERED ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ZEREN SEARCH LTD
FOR THE YEAR ENDED 26 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Zeren Search Ltd for the year ended 26 December 2023 which comprise the Consolidated balance sheet, the Company balance sheet and the related notes from the Group's accounting records and from information and explanations you have given me.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW)I am subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Zeren Search Ltd, as a body, in accordance with the terms of my engagement letter dated 18/09/2018My work has been undertaken solely to prepare for your approval the financial statements of Zeren Search Ltd and state those matters that I have agreed to state to the Board of directors of Zeren Search Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Zeren Search Ltd and its Board of directors, as a body, for my work or for this report. 

It is your duty to ensure that Zeren Search Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Zeren Search Ltd. You consider that Zeren Search Ltd is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or review of the financial statements of Zeren Search Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

  



Drennan & Co
 
Chartered Accountants
  
64 Belsize Park
London
NW3 4EH
11 July 2024
Page 1

 
ZEREN SEARCH LTD
REGISTERED NUMBER: 11434483

CONSOLIDATED BALANCE SHEET
AS AT 26 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
6,936

  
-
6,936

Current assets
  

Debtors: amounts falling due within one year
 6 
881,171
1,231,769

Cash at bank and in hand
 7 
339,636
2,256,485

  
1,220,807
3,488,254

Creditors: amounts falling due within one year
 8 
(1,068,403)
(3,329,740)

Net current assets
  
 
 
152,404
 
 
158,514

Total assets less current liabilities
  
152,404
165,450

Creditors: amounts falling due after more than one year
 9 
(28,992)
(38,825)

  

Net assets
  
123,412
126,625


Capital and reserves
  

Called up share capital 
  
1,146
1,164

Other reserves
  
48,153
-

Profit and loss account
  
74,113
125,461

  
123,412
126,625


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 July 2024.
Page 2

 
ZEREN SEARCH LTD
REGISTERED NUMBER: 11434483
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 26 DECEMBER 2023


T. Jepsen
Director

The notes on pages 6 to 13 form part of these financial statements.

Page 3

 
ZEREN SEARCH LTD
REGISTERED NUMBER: 11434483

COMPANY BALANCE SHEET
AS AT 26 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
6,936

Investments
 5 
23,013
22,165

  
23,013
29,101

Current assets
  

Debtors: amounts falling due within one year
 6 
1,286,160
2,034,415

Cash at bank and in hand
 7 
232,040
1,773,393

  
1,518,200
3,807,808

Creditors: amounts falling due within one year
 8 
(1,037,476)
(2,991,231)

Net current assets
  
 
 
480,724
 
 
816,577

Total assets less current liabilities
  
503,737
845,678

  

Creditors: amounts falling due after more than one year
 9 
(28,992)
(38,825)

  

Net assets excluding pension asset
  
474,745
806,853

Net assets
  
474,745
806,853


Capital and reserves
  

Called up share capital 
  
1,164
1,164

Profit and loss account brought forward
  
805,689
118,248

Loss/(profit) for the year
  
(332,108)
687,441

Profit and loss account carried forward
  
473,581
805,689

  
474,745
806,853


The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Page 4

 
ZEREN SEARCH LTD
REGISTERED NUMBER: 11434483
    
COMPANY BALANCE SHEET (CONTINUED)
AS AT 26 DECEMBER 2023


The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 July 2024.


T. Jepsen
Director

The notes on pages 6 to 13 form part of these financial statements.

Page 5

 
ZEREN SEARCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 DECEMBER 2023

1.


General information

The entity is a limited liability company registered in England and Wales.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The consolidated financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 26 June 2018.

Page 6

 
ZEREN SEARCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 7

 
ZEREN SEARCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
10%
Office equipment
-
10%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 8

 
ZEREN SEARCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2022 - 17).


4.


Tangible fixed assets

Group






Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 27 December 2022
840
235
12,059
13,134



At 26 December 2023

840
235
12,059
13,134



Depreciation


At 27 December 2022
252
95
5,851
6,198


Charge for the year on owned assets
588
140
6,208
6,936



At 26 December 2023

840
235
12,059
13,134



Net book value



At 26 December 2023
-
-
-
-



At 26 December 2022
588
140
6,208
6,936

Page 9

 
ZEREN SEARCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 DECEMBER 2023

           4.Tangible fixed assets (continued)


Company






Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£

Cost or valuation


At 27 December 2022
840
235
12,059
13,134



At 26 December 2023

840
235
12,059
13,134



Depreciation


At 27 December 2022
252
95
5,851
6,198


Charge for the year on owned assets
588
140
6,208
6,936



At 26 December 2023

840
235
12,059
13,134



Net book value



At 26 December 2023
-
-
-
-



At 26 December 2022
588
140
6,208
6,936






Page 10

 
ZEREN SEARCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 DECEMBER 2023

5.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 27 December 2022
22,165


Additions
848



At 26 December 2023
23,013





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Zeren Search LLC
Delaware, USA
Ordinary
100%
Zeren Search GmbH
Germany
Ordinary
100%
Zeren Search SAS
France
Ordinary
100%

The aggregate of the share capital and reserves as at 26 December 2023 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Zeren Search LLC
(388,149)
299,960

Zeren Search GmbH
56,442
26,274

Zeren Search SAS
3,387
2,538

Page 11

 
ZEREN SEARCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 DECEMBER 2023

6.


Debtors

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Trade debtors
527,304
927,258
480,296
1,686,531

Amounts owed by group undertakings
264,036
126,635
725,132
240,856

Other debtors
28,253
41,086
26,020
12,761

Called up share capital not paid
1,164
1,164
1,164
1,164

Prepayments and accrued income
60,414
135,626
53,548
93,103

881,171
1,231,769
1,286,160
2,034,415



7.


Cash and cash equivalents

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Cash at bank and in hand
339,636
2,256,485
232,040
1,773,393

339,636
2,256,485
232,040
1,773,393



8.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Other loans - invoice factoring
35,620
-
35,620
-

Trade creditors
360,639
519,580
312,771
542,887

Amounts owed to group undertakings
143
300,335
109,264
177,875

Corporation tax
49,822
166,475
46,754
161,984

Other taxation and social security
184,731
139,479
174,415
126,783

Other creditors
12,635
26,076
9,139
7,619

Accruals and deferred income
424,813
2,177,795
349,513
1,974,083

1,068,403
3,329,740
1,037,476
2,991,231


Page 12

 
ZEREN SEARCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 DECEMBER 2023

9.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank loans
28,992
38,825
28,992
38,825

28,992
38,825
28,992
38,825


The loan was taken out under the Bounce Back Scheme with interest payable at 2.5%.


10.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Amounts falling due within one year

Other loans
35,620
-
35,620
-

Amounts falling due 1-2 years

Bank loans
28,992
38,825
28,992
38,825


28,992
38,825
28,992
38,825



64,612
38,825
64,612
38,825



11.


Reserves

Other reserves

Reserve arising on consolidation of overseas subsidiaries.


12.


Related party transactions

During the period, the company received net commission & management charges to other companies under the control of the shareholders totaling £131,859 (2022: £554,4374 paid). At the year end, balances owed to the related party companies were £417,270 (2022: £338,869).

 
Page 13