ZMG Consulting Limited 06714721 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is project management Digita Accounts Production Advanced 6.30.9574.0 true true 06714721 2023-04-01 2024-03-31 06714721 2024-03-31 06714721 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-03-31 06714721 bus:OrdinaryShareClass2 bus:CumulativeShares 2024-03-31 06714721 core:CurrentFinancialInstruments 2024-03-31 06714721 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06714721 core:MotorVehicles 2024-03-31 06714721 core:OtherPropertyPlantEquipment 2024-03-31 06714721 bus:SmallEntities 2023-04-01 2024-03-31 06714721 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06714721 bus:FilletedAccounts 2023-04-01 2024-03-31 06714721 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06714721 bus:RegisteredOffice 2023-04-01 2024-03-31 06714721 bus:Director1 2023-04-01 2024-03-31 06714721 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-01 2024-03-31 06714721 bus:OrdinaryShareClass2 bus:CumulativeShares 2023-04-01 2024-03-31 06714721 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06714721 core:MotorVehicles 2023-04-01 2024-03-31 06714721 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 06714721 core:PlantMachinery 2023-04-01 2024-03-31 06714721 countries:EnglandWales 2023-04-01 2024-03-31 06714721 2023-03-31 06714721 core:MotorVehicles 2023-03-31 06714721 core:OtherPropertyPlantEquipment 2023-03-31 06714721 2022-04-01 2023-03-31 06714721 2023-03-31 06714721 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-31 06714721 bus:OrdinaryShareClass2 bus:CumulativeShares 2023-03-31 06714721 core:CurrentFinancialInstruments 2023-03-31 06714721 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06714721 core:MotorVehicles 2023-03-31 06714721 core:OtherPropertyPlantEquipment 2023-03-31 06714721 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06714721

ZMG Consulting Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

ZMG Consulting Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

ZMG Consulting Limited

Company Information

Director

Mr Andrew Lyons

Registered office

93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW

Accountants

Matthews Hanton Limited
Chartered Certified Accountants
93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW

 

ZMG Consulting Limited

(Registration number: 06714721)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

87,570

99,388

Current assets

 

Stocks

5

18,860

29,719

Debtors

6

140

77,790

Cash at bank and in hand

 

964,074

925,517

 

983,074

1,033,026

Creditors: Amounts falling due within one year

7

(55,430)

(97,314)

Net current assets

 

927,644

935,712

Total assets less current liabilities

 

1,015,214

1,035,100

Provisions for liabilities

(16,638)

-

Net assets

 

998,576

1,035,100

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

998,376

1,034,900

Shareholders' funds

 

998,576

1,035,100

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 September 2024
 

.........................................
Mr Andrew Lyons
Director

 

ZMG Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW
United Kingdom

These financial statements were authorised for issue by the director on 24 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

ZMG Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Equipment

20% RB

Motor Vehicles

20% RB

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

ZMG Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

ZMG Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

114,792

32,632

147,424

Additions

-

10,074

10,074

At 31 March 2024

114,792

42,706

157,498

Depreciation

At 1 April 2023

22,958

25,078

48,036

Charge for the year

18,367

3,525

21,892

At 31 March 2024

41,325

28,603

69,928

Carrying amount

At 31 March 2024

73,467

14,103

87,570

At 31 March 2023

91,834

7,554

99,388

5

Stocks

2024
£

2023
£

Work in progress

18,860

29,719

6

Debtors

Current

2024
£

2023
£

Trade debtors

140

140

Other debtors

-

77,650

 

140

77,790

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

28,037

82,844

Accruals and deferred income

1,000

5,138

Other creditors

26,393

9,332

55,430

97,314

 

ZMG Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

Ordinary B of £1 each

100

100

100

100

200

200

200

200

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £630 (2023 - £600) per each Ordinary

63,000

60,000

 

 

10

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

31,417

31,416