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Company Registration No. 07583551 (England and Wales)
Zimma Limited Unaudited accounts for the year ended 31 December 2023
Zimma Limited Unaudited accounts Contents
Page
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Zimma Limited Company Information for the year ended 31 December 2023
Director
Jonathan H White
Company Number
07583551 (England and Wales)
Registered Office
Unit 219, Mare Street Studios 203-213 Mare Street London E8 3LY
Accountants
Barnes & Scott 86-90 Paul Street Shoreditch London EC2A 4NE
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Zimma Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Zimma Limited for the year ended 31 December 2023 as set out on pages 5 - 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Zimma Limited, as a body, in accordance with the terms of our engagement letter dated 30 August 2016. Our work has been undertaken solely to prepare for your approval the accounts of Zimma Limited and state those matters that we have agreed to state to the Board of Directors of Zimma Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Zimma Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Zimma Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Zimma Limited. You consider that Zimma Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Zimma Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Barnes & Scott Chartered Accountants 86-90 Paul Street Shoreditch London EC2A 4NE 19 September 2024
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Zimma Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
6,607 
- 
Tangible assets
43,217 
36,338 
Investments
1 
1 
49,825 
36,339 
Current assets
Debtors
562,553 
397,842 
Cash at bank and in hand
4,097,735 
2,598,375 
4,660,288 
2,996,217 
Creditors: amounts falling due within one year
(722,473)
(531,281)
Net current assets
3,937,815 
2,464,936 
Total assets less current liabilities
3,987,640 
2,501,275 
Provisions for liabilities
Deferred tax
(5,517)
(4,867)
Net assets
3,982,123 
2,496,408 
Capital and reserves
Called up share capital
102 
101 
Share premium
7,238 
5,392 
Capital contribution reserve
29,295 
35,051 
Profit and loss account
3,945,488 
2,455,864 
Shareholders' funds
3,982,123 
2,496,408 
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 19 September 2024 and were signed on its behalf by
Jonathan H White Director Company Registration No. 07583551
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Zimma Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Zimma Limited is a private company, limited by shares, registered in England and Wales, registration number 07583551. The registered office is Unit 219, Mare Street Studios, 203-213 Mare Street, London, E8 3LY.
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.
3
Accounting policies
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. They are amortised over 10 years.
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:
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairments losses are recognised immediately in profit or loss. A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
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Zimma Limited Notes to the Accounts for the year ended 31 December 2023
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
EMI Share Option Scheme
The company has an employee share option scheme in place. The scheme consists of an EMI approved option scheme for those who are eligible, and an 'unapproved' scheme for others. The options vest evenly over a maximum of four years and are settled by equity upon exercise. At the period end there were 190 options in issue. The Company entered a credit of £5,756 through the profit and loss account, being the estimated fair value of the net movement in share options this period. The number and weighted average exercise prices of the share options are as follows: (i) outstanding at the beginning of the period: 65 options at a weighted average exercise price of £369.33; (ii) granted during the period: 130 options at a weighted average exercise price of £0.10; (iii) forfeited during the period: Nil; (iv) exercised during the period: 5 options at a weighted average exercise price of £369.33; (v) expired during the period: Nil; (vi) outstanding at the end of the period: 190 options at a weighted average exercise price of £116.70; and (vii) exercisable at the end of the period: Nil.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred taxation
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.
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Zimma Limited Notes to the Accounts for the year ended 31 December 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
- 
Additions
6,835 
At 31 December 2023
6,835 
Amortisation
At 1 January 2023
- 
Charge for the year
228 
At 31 December 2023
228 
Net book value
At 31 December 2023
6,607 
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
14,396 
52,008 
66,404 
Additions
12,229 
9,841 
22,070 
At 31 December 2023
26,625 
61,849 
88,474 
Depreciation
At 1 January 2023
3,100 
26,966 
30,066 
Charge for the year
3,689 
11,502 
15,191 
At 31 December 2023
6,789 
38,468 
45,257 
Net book value
At 31 December 2023
19,836 
23,381 
43,217 
At 31 December 2022
11,296 
25,042 
36,338 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2023
1 
Valuation at 31 December 2023
1 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,336 
- 
Accrued income and prepayments
534,898 
382,409 
Other debtors
26,319 
15,433 
562,553 
397,842 
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Zimma Limited Notes to the Accounts for the year ended 31 December 2023
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
112,972 
85,978 
Trade creditors
47,791 
20,573 
Amounts owed to group undertakings and other participating interests
16,650 
508 
Taxes and social security
463,634 
397,393 
Other creditors
14,169 
3,408 
Loans from directors
5,025 
5,294 
Accruals
62,232 
18,127 
722,473 
531,281 
The director loan is measured at transaction price and is interest free and repayable on demand.
9
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
70,848 
44,249 
Later than one year and not later than five years
41,328 
- 
112,176 
44,249 
10
Average number of employees
During the year the average number of employees was 19 (2022: 12).
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