Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity2023-01-01false11falsetrue 05776739 2023-01-01 2023-12-31 05776739 2022-01-01 2022-12-31 05776739 2023-12-31 05776739 2022-12-31 05776739 2022-01-01 05776739 c:Director2 2023-01-01 2023-12-31 05776739 d:Buildings 2023-01-01 2023-12-31 05776739 d:Buildings 2023-12-31 05776739 d:Buildings 2022-12-31 05776739 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05776739 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 05776739 d:Buildings d:LongLeaseholdAssets 2023-12-31 05776739 d:Buildings d:LongLeaseholdAssets 2022-12-31 05776739 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05776739 d:CurrentFinancialInstruments 2023-12-31 05776739 d:CurrentFinancialInstruments 2022-12-31 05776739 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05776739 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05776739 d:ShareCapital 2023-12-31 05776739 d:ShareCapital 2022-12-31 05776739 d:RetainedEarningsAccumulatedLosses 2023-12-31 05776739 d:RetainedEarningsAccumulatedLosses 2022-12-31 05776739 c:FRS102 2023-01-01 2023-12-31 05776739 c:Audited 2023-01-01 2023-12-31 05776739 c:FullAccounts 2023-01-01 2023-12-31 05776739 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05776739 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05776739 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 05776739 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 05776739 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered Number:05776739













ZINERTRON LIMITED





DIRECTOR'S REPORT AND FINANCIAL STATEMENTS
 
PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023











 
ZINERTRON LIMITED
REGISTERED NUMBER:05776739


BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,050,519
3,096,306

  
3,050,519
3,096,306

Current assets
  

Debtors: amounts falling due within one year
 5 
39,901
15,407

Cash at bank and in hand
  
406,188
260,788

  
446,089
276,195

Creditors: amounts falling due within one year
 6 
(3,260,701)
(3,153,446)

Net current liabilities
  
 
 
(2,814,612)
 
 
(2,877,251)

Total assets less current liabilities
  
235,907
219,055

Provisions for liabilities
  

Deferred tax
 7 
(57,271)
(58,275)

  
 
 
(57,271)
 
 
(58,275)

Net assets
  
178,636
160,780


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
178,635
160,779

  
178,636
160,780



- 1 -



 
ZINERTRON LIMITED
REGISTERED NUMBER:05776739

    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 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 4 September 2024.




C Gomez Ingla
Director

The notes on pages 3 to 9 form part of these financial statements.
The director reserve the right to voluntarily amend the financial statements if they prove to be defective in accordance with section 454 of the Companies Act 2006.


- 2 -



 
ZINERTRON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Zinertron Limited is a private company limited by shares, domiciled and incorporated in the United Kingdom. The address of the registered office is S & P House, Wentworth Road, Ransomes Europark, Ipswich, IP3 9SW. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been drawn up on a going concern basis.
The Company has a significant debt due to Coropuna S.L., the parent company of Zinertron Limited. Coropuna S.L. has agreed to provide financial support to the Company, such that the debt will not be called without alternative facilities being secured by the company.
The director has considered a period of twelve months following the date of approval of the financial statements when considering the appropriateness of the adoption of the going concern basis of preparation.

  
2.3

Rental income

Rental income from operating leases is recognised on a straight - line basis over the lease term.

 
2.4

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.


- 3 -



 
ZINERTRON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

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.

Land is not depreciated. Depreciation on other assets 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:

Freehold property
-
Straight line over 50 years

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.


- 4 -



 
ZINERTRON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

- 5 -



 
ZINERTRON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)


If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


- 6 -



 
ZINERTRON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Freehold property
Freehold land
Total

£
£
£



Cost or valuation


At 1 January 2023
2,289,341
1,447,981
3,737,322



At 31 December 2023

2,289,341
1,447,981
3,737,322



Depreciation


At 1 January 2023
641,016
-
641,016


Charge for the year on owned assets
45,787
-
45,787



At 31 December 2023

686,803
-
686,803



Net book value



At 31 December 2023
1,602,538
1,447,981
3,050,519



At 31 December 2022
1,648,325
1,447,981
3,096,306


- 7 -



 
ZINERTRON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
4,798
15,407

Other debtors
35,103
-

39,901
15,407



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to parent undertaking
3,203,391
3,086,068

Corporation tax
-
8,350

Other taxation and social security
9,435
9,036

Amount due to company under common control
-
17

Accruals and deferred income
47,875
49,975

3,260,701
3,153,446



7.


Deferred taxation




2023
2022


£

£






At beginning of year
(58,275)
(59,163)


Charged to profit or loss
1,004
888



At end of year
(57,271)
(58,275)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(57,271)
(58,275)

(57,271)
(58,275)


- 8 -



 
ZINERTRON LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Controlling party

During the year the Company was under the control of its immediate parent company, Coropuna S.L., a company registered in Spain.  
                                                                                                                                                                                                                                                                                                                                                                               The consolidated financial statements of Coropuna S.L. are available from its registered office, Coropuna, S.L. AV Diagonal, 593 - 595, 9º, 08014 Barcelona


9.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 24 September 2024 by Steven Burgess (Senior Statutory Auditor) on behalf of Sumer Auditco Limited.

 

- 9 -