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REGISTERED NUMBER: 07322535 (England and Wales)
















iZone Driver Performance Ltd

Unaudited Financial Statements

for the Year Ended

31 July 2024






iZone Driver Performance Ltd (Registered number: 07322535)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


iZone Driver Performance Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: J R J Pratt
C T Reaston-Brown





REGISTERED OFFICE: 5 Clarendon Place
Leamington Spa
Warwickshire
CV32 5QL





REGISTERED NUMBER: 07322535 (England and Wales)





ACCOUNTANTS: Moffat Gilbert
5 Clarendon Place
Leamington Spa
Warwickshire
CV32 5QL

iZone Driver Performance Ltd (Registered number: 07322535)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 126,812 161,038
126,812 161,038

CURRENT ASSETS
Debtors 6 42,524 54,358
Cash at bank 82,048 142,883
124,572 197,241
CREDITORS
Amounts falling due within one year 7 78,250 144,421
NET CURRENT ASSETS 46,322 52,820
TOTAL ASSETS LESS CURRENT
LIABILITIES

173,134

213,858

CREDITORS
Amounts falling due after more than one
year

8

(9,167

)

(19,167

)

PROVISIONS FOR LIABILITIES (28,742 ) (24,148 )
NET ASSETS 135,225 170,543

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 135,125 170,443
SHAREHOLDERS' FUNDS 135,225 170,543

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

iZone Driver Performance Ltd (Registered number: 07322535)

Balance Sheet - continued
31 July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





J R J Pratt - Director


iZone Driver Performance Ltd (Registered number: 07322535)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

iZone Driver Performance Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development costs are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the remaining term of the leases
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

iZone Driver Performance Ltd (Registered number: 07322535)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Website
development Computer
costs software Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 6,404 4,310 10,714
AMORTISATION
At 1 August 2023
and 31 July 2024 6,404 4,310 10,714
NET BOOK VALUE
At 31 July 2024 - - -
At 31 July 2023 - - -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 August 2023 117,177 333,117 153,251 603,545
Additions - 1,333 2,934 4,267
At 31 July 2024 117,177 334,450 156,185 607,812
DEPRECIATION
At 1 August 2023 71,988 276,393 94,126 442,507
Charge for year 15,063 11,445 11,985 38,493
At 31 July 2024 87,051 287,838 106,111 481,000
NET BOOK VALUE
At 31 July 2024 30,126 46,612 50,074 126,812
At 31 July 2023 45,189 56,724 59,125 161,038

iZone Driver Performance Ltd (Registered number: 07322535)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 28,066 42,294
Other debtors 4,135 4,135
Prepayments 10,323 7,929
42,524 54,358

Within other debtors is the rent deposit of £4,135 which is due after more than one year.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 12,401 8,975
Tax 4,253 20,949
Social security and other taxes 2,649 1,294
VAT 15,829 14,501
Other creditors 471 594
Directors' current accounts 58 8,270
Deferred income 4,903 7,841
Accrued expenses 27,686 71,997
78,250 144,421

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans - 2-5 years 9,167 19,167

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.24 31.7.23
£    £   
Within one year 26,260 26,260
Between one and five years 26,260 52,520
52,520 78,780

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £1 100 100

iZone Driver Performance Ltd (Registered number: 07322535)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

11. RESERVES
Retained
earnings
£   

At 1 August 2023 170,443
Profit for the year 29,932
Dividends (65,250 )
At 31 July 2024 135,125

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is the director Mr J R J Pratt.