10 false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2021 - FRS102_2021 54,169 53,474 10,000 10,000 xbrli:pure xbrli:shares iso4217:GBP 08687340 2023-10-01 2024-07-31 08687340 2024-07-31 08687340 2023-09-30 08687340 2022-10-01 2023-09-30 08687340 2023-09-30 08687340 core:FurnitureFittings 2023-10-01 2024-07-31 08687340 bus:RegisteredOffice 2023-10-01 2024-07-31 08687340 bus:LeadAgentIfApplicable 2023-10-01 2024-07-31 08687340 bus:Director1 2023-10-01 2024-07-31 08687340 bus:Director2 2023-10-01 2024-07-31 08687340 bus:Director2 2024-07-31 08687340 core:NetGoodwill 2024-07-31 08687340 core:FurnitureFittings 2023-09-30 08687340 core:WithinOneYear 2024-07-31 08687340 core:WithinOneYear 2023-09-30 08687340 core:UKTax 2023-10-01 2024-07-31 08687340 core:UKTax 2022-10-01 2023-09-30 08687340 core:RetainedEarningsAccumulatedLosses 2023-10-01 2024-07-31 08687340 core:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 08687340 core:RetainedEarningsAccumulatedLosses 2023-09-30 08687340 core:RetainedEarningsAccumulatedLosses 2022-09-30 08687340 core:RetainedEarningsAccumulatedLosses 2024-07-31 08687340 core:RetainedEarningsAccumulatedLosses 2023-09-30 08687340 core:ShareCapital 2024-07-31 08687340 core:ShareCapital 2023-09-30 08687340 core:FurnitureFittings 2023-09-30 08687340 bus:SmallEntities 2023-10-01 2024-07-31 08687340 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-07-31 08687340 bus:FullAccounts 2023-10-01 2024-07-31 08687340 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-07-31 08687340 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-07-31 08687340 core:NetGoodwill 2023-10-01 2024-07-31 08687340 core:OfficeEquipment 2023-10-01 2024-07-31 08687340 core:OfficeEquipment 2023-09-30
COMPANY REGISTRATION NUMBER: 08687340
Zing Furniture Limited
Unaudited Financial Statements
31 July 2024
Zing Furniture Limited
Financial Statements
Period from 1 October 2023 to 31 July 2024
Contents
Page
Officers and Professional Advisers
1
Director's Report
2
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements
3
Statement of Income and Retained Earnings
4
Statement of Financial Position
5
Notes to the Financial Statements
7
Zing Furniture Limited
Officers and Professional Advisers
Director
Miss P D Gill
Registered Office
22 Eldon Business Park
Eldon Road
Attenborough
Beeston
Nottingham
NG9 6DZ
Accountants
G K Abbott & Co
Chartered Accountants
22 Eldon Business Park
Eldon Road
Attenborough
Beeston
Nottingham
NG9 6DZ
Zing Furniture Limited
Director's Report
Period from 1 October 2023 to 31 July 2024
The director presents her report and the unaudited financial statements of the company for the period ended 31 July 2024 .
Directors
The directors who served the company during the period were as follows:
Miss P D Gill
Miss E K Wallis
(Resigned 16 July 2024)
Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 11 October 2024 and signed on behalf of the board by:
Miss P D Gill
Director
Zing Furniture Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Zing Furniture Limited
Period from 1 October 2023 to 31 July 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the period ended 31 July 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
G K Abbott & Co Chartered Accountants
22 Eldon Business Park Eldon Road Attenborough Beeston Nottingham NG9 6DZ
11 October 2024
Zing Furniture Limited
Statement of Income and Retained Earnings
Period from 1 October 2023 to 31 July 2024
Period from
1 Oct 23 to
Year to
31 Jul 24
30 Sep 23
Note
£
£
Turnover
363,654
637,496
Cost of sales
198,108
303,534
-----------
-----------
Gross Profit
165,546
333,962
Administrative expenses
237,230
269,044
-----------
-----------
Operating (Loss)/Profit
( 71,684)
64,918
Other interest receivable and similar income
4,110
2,764
-----------
-----------
(Loss)/Profit Before Taxation
5
( 67,574)
67,682
Tax on (loss)/profit
6
( 13,405)
14,208
---------
---------
(Loss)/Profit for the Financial Period and Total Comprehensive Income
( 54,169)
53,474
---------
---------
Dividends paid and payable
( 38,000)
( 28,500)
Retained Earnings at the Start of the Period
321,954
296,980
-----------
-----------
Retained Earnings at the End of the Period
229,785
321,954
-----------
-----------
All the activities of the company are from continuing operations.
Zing Furniture Limited
Statement of Financial Position
31 July 2024
31 Jul 24
30 Sep 23
Note
£
£
Fixed Assets
Tangible assets
8
3,219
Current Assets
Stocks
92,500
Debtors
9
12,601
16,923
Cash at bank and in hand
237,063
259,120
-----------
-----------
249,664
368,543
Creditors: amounts falling due within one year
10
19,779
48,904
-----------
-----------
Net Current Assets
229,885
319,639
-----------
-----------
Total Assets Less Current Liabilities
229,885
322,858
Provisions
Taxation including deferred tax
804
-----------
-----------
Net Assets
229,885
322,054
-----------
-----------
Zing Furniture Limited
Statement of Financial Position (continued)
31 July 2024
31 Jul 24
30 Sep 23
Note
£
£
Capital and Reserves
Called up share capital
100
100
Profit and loss account
229,785
321,954
-----------
-----------
Shareholders Funds
229,885
322,054
-----------
-----------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the period ending 31 July 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 financial statements for the period in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 October 2024 , and are signed on behalf of the board by:
Miss P D Gill
Director
Company registration number: 08687340
Zing Furniture Limited
Notes to the Financial Statements
Period from 1 October 2023 to 31 July 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Eldon Business Park, Eldon Road, Attenborough, Beeston, Nottingham, NG9 6DZ.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
The turnover shown in the profit and loss account represents sales during the year,exclusive of Value Added Tax.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating Leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
25% reducing balance
Equipment
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial Instruments
Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Debtors and creditors receivable / payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit or loss account.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee Numbers
The average number of persons employed by the company during the period amounted to 10 (2023: 14 ).
5. Profit Before Taxation
Profit before taxation is stated after charging:
Period from
1 Oct 23 to
Year to
31 Jul 24
30 Sep 23
£
£
Depreciation of tangible assets
440
1,251
-----
--------
6. Tax on (Loss)/Profit
Major components of tax (income)/expense
Period from
1 Oct 23 to
Year to
31 Jul 24
30 Sep 23
£
£
Current tax:
UK current tax (income)/expense
( 12,601)
14,253
Deferred tax:
Origination and reversal of timing differences
( 804)
( 45)
---------
---------
Tax on (loss)/profit
( 13,405)
14,208
---------
---------
7. Intangible Assets
Goodwill
£
Cost
At 1 October 2023 and 31 July 2024
10,000
---------
Amortisation
At 1 October 2023 and 31 July 2024
10,000
---------
Carrying amount
At 31 July 2024
---------
At 30 September 2023
---------
8. Tangible Assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 October 2023
35,979
7,445
43,424
Disposals
( 35,979)
( 7,445)
( 43,424)
---------
--------
---------
At 31 July 2024
---------
--------
---------
Depreciation
At 1 October 2023
33,056
7,149
40,205
Charge for the period
366
74
440
Disposals
( 33,422)
( 7,223)
( 40,645)
---------
--------
---------
At 31 July 2024
---------
--------
---------
Carrying amount
At 31 July 2024
---------
--------
---------
At 30 September 2023
2,923
296
3,219
---------
--------
---------
9. Debtors
31 Jul 24
30 Sep 23
£
£
Trade debtors
93
Other debtors
12,601
16,830
---------
---------
12,601
16,923
---------
---------
10. Creditors: amounts falling due within one year
31 Jul 24
30 Sep 23
£
£
Trade creditors
13,827
Corporation tax
14,253
Social security and other taxes
1,117
14,075
Other creditors
18,662
6,749
---------
---------
19,779
48,904
---------
---------
11. Operating Leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
31 Jul 24
30 Sep 23
£
£
Not later than 1 year
44,459
-----
---------