Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activityfalse2023-01-01false1010truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05633090 2023-01-01 2023-12-31 05633090 2022-01-01 2022-12-31 05633090 2023-12-31 05633090 2022-12-31 05633090 c:Director1 2023-01-01 2023-12-31 05633090 d:Buildings 2023-01-01 2023-12-31 05633090 d:Buildings 2023-12-31 05633090 d:Buildings 2022-12-31 05633090 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05633090 d:MotorVehicles 2023-01-01 2023-12-31 05633090 d:MotorVehicles 2023-12-31 05633090 d:MotorVehicles 2022-12-31 05633090 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05633090 d:FurnitureFittings 2023-01-01 2023-12-31 05633090 d:FurnitureFittings 2023-12-31 05633090 d:FurnitureFittings 2022-12-31 05633090 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05633090 d:OfficeEquipment 2023-01-01 2023-12-31 05633090 d:OfficeEquipment 2023-12-31 05633090 d:OfficeEquipment 2022-12-31 05633090 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05633090 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 05633090 d:OtherPropertyPlantEquipment 2023-12-31 05633090 d:OtherPropertyPlantEquipment 2022-12-31 05633090 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05633090 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05633090 d:CurrentFinancialInstruments 2023-12-31 05633090 d:CurrentFinancialInstruments 2022-12-31 05633090 d:Non-currentFinancialInstruments 2023-12-31 05633090 d:Non-currentFinancialInstruments 2022-12-31 05633090 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05633090 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05633090 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 05633090 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 05633090 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 05633090 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 05633090 d:ShareCapital 2023-12-31 05633090 d:ShareCapital 2022-12-31 05633090 d:RetainedEarningsAccumulatedLosses 2023-12-31 05633090 d:RetainedEarningsAccumulatedLosses 2022-12-31 05633090 c:FRS102 2023-01-01 2023-12-31 05633090 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05633090 c:FullAccounts 2023-01-01 2023-12-31 05633090 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05633090 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 05633090 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 05633090 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 05633090









ZONE NETWORKS LTD







Unaudited

Financial statements

For the year ended 31 December 2023

 
ZONE NETWORKS LTD
 
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of ZONE NETWORKS LTD 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 financial statements of ZONE NETWORKS LTD for the year ended 31 December 2023 which comprise  the Statement of financial position and the related notes 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 https://www.icaew.com /regulation.

This report is made solely to the director of ZONE NETWORKS LTD in accordance with the terms of our engagement letter dated 11 January 2019Our work has been undertaken solely to prepare for your approval the financial statements of ZONE NETWORKS LTD and state those matters that we have agreed to state to the director of ZONE NETWORKS LTD in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ZONE NETWORKS LTD and its director for our work or for this report. 

It is your duty to ensure that ZONE NETWORKS LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ZONE NETWORKS LTD. You consider that ZONE NETWORKS LTD is exempt from the statutory audit requirement for the year.

  



Ashon
Chartered Accountants
125 Knoll Crescent
Northwood
Middlesex
HA6 1HX
19 September 2024
Page 1

 
ZONE NETWORKS LTD
Registered number: 05633090

Statement of financial position
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
856,140
858,611

  
856,140
858,611

Current assets
  

Stocks
  
50,000
74,000

Debtors: amounts falling due within one year
 5 
80,632
69,274

Cash at bank and in hand
 6 
1,865
9,637

  
132,497
152,911

Creditors: amounts falling due within one year
 7 
(412,137)
(453,165)

Net current liabilities
  
 
 
(279,640)
 
 
(300,254)

Total assets less current liabilities
  
576,500
558,357

Creditors: amounts falling due after more than one year
 8 
(420,298)
(440,340)

Provisions for liabilities
  

Deferred tax
  
(539)
-

  
 
 
(539)
 
 
-

Net assets
  
155,663
118,017


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
155,563
117,917

  
155,663
118,017


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

Page 2

 
ZONE NETWORKS LTD
Registered number: 05633090
    
Statement of financial position (continued)
As at 31 December 2023

The Company has opted not to file the statement of income and retained earnings 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 19 September 2024.




................................................
Mitesh Mervana
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
ZONE NETWORKS LTD
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

The company is a private company limited by share capital, incorporated in England & Wales. The
company number and registered office address are:
Company number:                   05633090
Registered office address: 102 Watford Road
                                                 Wembley
                                                 Middlesex
                                                 England HA0 3HF

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
ZONE NETWORKS LTD
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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 reporting 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 reporting 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 reporting date.

Page 5

 
ZONE NETWORKS LTD
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

Freehold property
-
Motor vehicles
-
15%
- reducing balance
Fixtures and fittings
-
33%
- straight line
Office equipment
-
33%
- straight line

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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 6

 
ZONE NETWORKS LTD
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 10).


4.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Office equipment
Other fixed assets

£
£
£
£
£



Cost or valuation


At 1 January 2023
839,137
48,131
2,334
7,326
36,663


Additions
-
-
830
-
-



At 31 December 2023

839,137
48,131
3,164
7,326
36,663



Depreciation


At 1 January 2023
-
28,948
2,250
7,120
36,663


Charge for the year on owned assets
-
2,878
319
103
-



At 31 December 2023

-
31,826
2,569
7,223
36,663



Net book value



At 31 December 2023
839,137
16,305
595
103
-



At 31 December 2022
839,137
19,184
84
206
-
Page 7

 
ZONE NETWORKS LTD
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 January 2023
933,591


Additions
830



At 31 December 2023

934,421



Depreciation


At 1 January 2023
74,981


Charge for the year on owned assets
3,300



At 31 December 2023

78,281



Net book value



At 31 December 2023
856,140



At 31 December 2022
858,611


5.


Debtors

2023
2022
£
£


Trade debtors
74,582
69,226

Other debtors
6,050
48

80,632
69,274


Page 8

 
ZONE NETWORKS LTD
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,865
9,637

Less: bank overdrafts
(11,368)
(10,333)

(9,503)
(696)



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
11,368
10,333

Trade creditors
29,767
29,790

Corporation tax
10,314
5,299

Other taxation and social security
31,667
39,092

Other creditors
327,178
367,276

Accruals and deferred income
1,843
1,375

412,137
453,165



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
420,298
440,340

420,298
440,340


The following liabilities were secured:

2023
2022
£
£



Bank Loan
420,298
440,340

420,298
440,340

Details of security provided:

The company had bank loans totalling £420,298 (2022: £440,340) which are secured on a fixed and floating charge over the assets concerned.

Page 9

 
ZONE NETWORKS LTD
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
420,298
440,340

420,298
440,340

420,298
440,340



10.


Deferred taxation




2023


£






Charged to profit or loss
(539)



At end of year
(539)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(539)
-

(539)
-


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the company in an independently administered fund. The pension cost charge
represents contributions payable by the company to the fund and amounted to £2,776 (2022 - £3,192).
Contributions totalling £484 (2022 - £1,609) were payable to the fund at the reporting date and are
included in creditors.

Page 10