Company registration number 10905153 (England and Wales)
ZYDEX INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
ZYDEX INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ZYDEX INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
150,000
150,000
Current assets
Debtors
4
100
100
Creditors: amounts falling due within one year
5
(186,699)
(184,036)
Net current liabilities
(186,599)
(183,936)
Net liabilities
(36,599)
(33,936)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(36,699)
(34,036)
Total equity
(36,599)
(33,936)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 21 October 2024
N Alphonso
Director
Company registration number 10905153 (England and Wales)
ZYDEX INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

Zydex Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 42-44 Bishopsgate, London, EC2N 4AH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Total liabilities exceed current assets at the balance sheet date. The director considers, however, that the company has sufficient liquid assets to meet its liabilities as and when they fall due and that the company has sufficient support from its director, shareholder and creditors. Accordingly the director considers that it is appropriate to prepare the accounts on a going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

1.4
Fixed asset investments

Fixed asset investments represents a small equity interest in a UK-based startup company. As the company is at an early stage, the director considers that fair value of the investment cannot be reliably measured as the variability of possible valuations is significant. Therefore the company adopts the cost basis of accounting. The investment is held at cost less accumulated impairment. No impairment has been recorded to date.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

ZYDEX INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
£
£
Other investments other than loans
150,000
150,000
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
100
100
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
185,039
182,476
Other creditors
1,660
1,560
186,699
184,036
ZYDEX INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
6
Related party transactions

At the year end the company was owed £100 (2023 - £100) by Zydex Holding Limited, the parent company, in respect of an interest free loan which is repayable on demand.

 

At the year end the company owed £185,039 (2023 - £182,476) to Zydex Limited, a fellow subsidiary of the parent company, in respect of an interest free loan which is repayable on demand.

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