ZORAL LIMITED

Company Registration Number:
04579626 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

ZORAL LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

ZORAL LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 0 503
Total fixed assets: 0 503
Current assets
Debtors: 4 1,461,735 790,157
Cash at bank and in hand: 1,694,430 1,032,876
Investments: 5 249,177 100,177
Total current assets: 3,405,342 1,923,210
Creditors: amounts falling due within one year: 6 (697,026) (1,031,337)
Net current assets (liabilities): 2,708,316 891,873
Total assets less current liabilities: 2,708,316 892,376
Creditors: amounts falling due after more than one year: 7 (364,413) (676,661)
Total net assets (liabilities): 2,343,903 215,715
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 2,342,903 214,715
Shareholders funds: 2,343,903 215,715

The notes form part of these financial statements

ZORAL LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 23 September 2024
and signed on behalf of the board by:

Name: Zigmund Sandler
Status: Director

The notes form part of these financial statements

ZORAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant & Machinery 33% straight line

ZORAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 3 3

ZORAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 2,013
At 31 December 2023 2,013
Depreciation
At 01 January 2023 1,510
Charge for year 503
At 31 December 2023 2,013
Net book value
At 31 December 2023 0
At 31 December 2022 503

ZORAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

Amounts falling due within one year: Trade debtors - £877,143 [2022-£244,424], Amounts owed by group undertakings - £560,678 [2022-£544,168], Other debtors - £23,914 [2022 - £1,565]

ZORAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Current investments

Other investments - £249,177 [2022 - £100,177]. Zoral Limited owns 100% of the shares of all subsidiaries - Zoral Group Inc., AiHit & Zoral GmbH.

ZORAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

Research & Development Bank loan - £NIL [2022-£678,969] Trade creditors - £2,771 [2022-£2,223] Taxations and social security - £56,027 [2022-£50,339] License prepayments - £386,749 [2022- £296,267] Dividends payable - £165,320 [2022-£NIL] Directors' loan account - £83,159 [2022-£NIL] Accruals and deferred income - £3,000 [2022 - £3,539]

ZORAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Creditors: amounts falling due after more than one year note

License prepayments - £289,913 [2022-£676,661] Directors' loan account - £74,500 [2022-£NIL]

ZORAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Loans to directors

At the year end, the company owed the directors £157,659 [2022-£NIL]. This loan is repayable in three instalments (June 2024, February 2025, February 2026) and an interest of 3% is charged on the outstanding loan amount.

ZORAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

9. Related party transactions

Name of the related party: Zoral Group Inc.
Relationship:
Wholly owned subsidiary
Description of the Transaction: Loan
£
Balance at 01 January 2023 544,168
Balance at 31 December 2023 560,678