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REGISTERED NUMBER: 11961563 (England and Wales)











Financial Statements

for the Year Ended 31 December 2023

for

Zing Dev Limited

Zing Dev Limited (Registered number: 11961563)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Zing Dev Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A C Ardron
J R J Hucker
T O Purkis



REGISTERED OFFICE: 1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY



REGISTERED NUMBER: 11961563 (England and Wales)



SENIOR STATUTORY AUDITOR: Susan Ambrose FCCA FCA



AUDITORS: Butt Miller
Chartered Accountants and Statutory Auditor
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

Zing Dev Limited (Registered number: 11961563)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 13,158 15,914

CURRENT ASSETS
Debtors 5 384,374 381,136
Cash at bank 17,832 243,346
402,206 624,482
CREDITORS
Amounts falling due within one year 6 (237,355 ) (209,645 )
NET CURRENT ASSETS 164,851 414,837
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,009

430,751

CREDITORS
Amounts falling due after more than one
year

7

(369,980

)

(369,980

)
NET (LIABILITIES)/ASSETS (191,971 ) 60,771

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (192,071 ) 60,671
SHAREHOLDERS' FUNDS (191,971 ) 60,771

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





J R J Hucker - Director


Zing Dev Limited (Registered number: 11961563)

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


1. STATUTORY INFORMATION

Zing Dev 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Deferred income arises from the allocation of invoiced amounts over the period to which they relate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 50% on cost

Financial instruments
Short term instruments i.e. those due in less than one year, are measured at transaction price. Other financial instruments, which are not subject to a market rate of interest, are measured initially at fair value and are measured subsequently at amortised cost using the effective interest rate method.

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.

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.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate.

Operating leases
Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

Zing Dev Limited (Registered number: 11961563)

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


2. ACCOUNTING POLICIES - continued

Going concern
The directors have reviewed the results of the company and its position at the year end. The company's current business plan includes significant forecasted sales growth which is expected to lead to the company generating positive operating cash flows. Since the year end the directors have secured additional funding and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 45,413
Additions 11,954
Disposals (15,489 )
At 31 December 2023 41,878
DEPRECIATION
At 1 January 2023 29,499
Charge for year 14,678
Eliminated on disposal (15,457 )
At 31 December 2023 28,720
NET BOOK VALUE
At 31 December 2023 13,158
At 31 December 2022 15,914

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 285,617 344,918
Other debtors 12,373 13,047
Prepayments and accrued income 86,384 23,171
384,374 381,136

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 15,284 -
Trade creditors 70,079 45,909
Social security and other taxes 55,475 25,996
VAT 9,366 -
Other creditors 4,706 40,104
Accruals and deferred income 82,445 97,636
237,355 209,645

Zing Dev Limited (Registered number: 11961563)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Debentures - 2-5 years 369,980 369,980

The above loan notes, issued to two directors plus a third shareholder, are interest bearing at a rate of 5% and are redeemable at par on 22 July 2026.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 88,101 20,145
Between one and five years 9,631 -
97,732 20,145

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Debentures 350,000 350,000

On 22 July 2022 Maven Capital Partners UK LLP lodged a fixed and floating charge over all the property and undertakings of the company.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Susan Ambrose FCCA FCA (Senior Statutory Auditor)
for and on behalf of Butt Miller

11. RELATED PARTY DISCLOSURES

During the previous year the company was released from the obligation of repaying a loan to fellow group company. The sum of £786,168 was credited to the Income Statement.