Registered number
10325306
Zarela Ltd
Filleted Accounts
31 March 2024
Zarela Ltd
Registered number: 10325306
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,890 1,350
Current assets
Stocks 168,246 175,051
Debtors 4 5,195 3,924
Cash at bank and in hand 22,910 7,333
196,351 186,308
Creditors: amounts falling due within one year 5 (119,234) (119,266)
Net current assets 77,117 67,042
Net assets 79,007 68,392
Capital and reserves
Called up share capital 100 100
Profit and loss account 78,907 68,292
Shareholders' funds 79,007 68,392
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Fossett
Director
Approved by the board on 17 October 2024
Zarela Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 3,059
Additions 1,439
At 31 March 2024 4,498
Depreciation
At 1 April 2023 1,709
Charge for the year 899
At 31 March 2024 2,608
Net book value
At 31 March 2024 1,890
At 31 March 2023 1,350
4 Debtors 2024 2023
£ £
Other debtors 5,195 3,924
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 26,485 21,749
Taxation and social security costs 37,401 21,171
Other creditors 55,348 76,346
119,234 119,266
6 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr J Fossett
Directors Loan Account 31,134 (78,749) 37,500 (10,115)
Mrs Z Fossett
Directors Loan Account 43,705 (17,324) 37,500 63,881
74,839 (96,073) 75,000 53,766
7 Controlling party
The company is controlled by the company directors, Mr J Fossett and Mrs Z Fossett, by virtue of their shareholding.
8 Other information
Zarela Ltd is a private company limited by shares and incorporated in England. Its registered office is:
25 Park Road
Barton Under Needwood
Burton On Trent
Staffordshire
DE13 8DW
Zarela Ltd 10325306 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Mr J Fossett No description of principal activity 10325306 2022-04-01 2023-03-31 10325306 core:WithinOneYear 2023-03-31 10325306 core:ShareCapital 2023-03-31 10325306 core:RetainedEarningsAccumulatedLosses 2023-03-31 10325306 2023-04-01 2024-03-31 10325306 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10325306 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10325306 bus:Director40 2023-04-01 2024-03-31 10325306 1 2023-04-01 2024-03-31 10325306 2 2023-04-01 2024-03-31 10325306 core:PlantMachinery 2023-04-01 2024-03-31 10325306 bus:Director1 2023-04-01 2024-03-31 10325306 bus:Director1 1 2023-04-01 2024-03-31 10325306 bus:Director2 2023-04-01 2024-03-31 10325306 bus:Director2 1 2023-04-01 2024-03-31 10325306 countries:England 2023-04-01 2024-03-31 10325306 bus:FRS102 2023-04-01 2024-03-31 10325306 bus:FilletedAccounts 2023-04-01 2024-03-31 10325306 2024-03-31 10325306 core:WithinOneYear 2024-03-31 10325306 core:ShareCapital 2024-03-31 10325306 core:RetainedEarningsAccumulatedLosses 2024-03-31 10325306 core:PlantMachinery 2024-03-31 10325306 bus:Director1 1 2024-03-31 10325306 bus:Director2 1 2024-03-31 10325306 2023-03-31 10325306 core:PlantMachinery 2023-03-31 10325306 bus:Director1 1 2023-03-31 10325306 bus:Director2 1 2023-03-31 iso4217:GBP xbrli:pure