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REGISTERED NUMBER: 13247005 (England and Wales)













ZERO WORKSPACE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






ZERO WORKSPACE LIMITED (REGISTERED NUMBER: 13247005)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


ZERO WORKSPACE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: D Stewart
T Morrison





REGISTERED OFFICE: 3 Lyttleton Court
Birmingham Street
Halesowen
West Midlands
B63 3HN





REGISTERED NUMBER: 13247005 (England and Wales)





ACCOUNTANTS: CUTTER & CO LTD
CHARTERED ACCOUNTANTS
3 Lyttleton Court
Birmingham Street
Halesowen
West Midlands
B63 3HN

ZERO WORKSPACE LIMITED (REGISTERED NUMBER: 13247005)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,138 2,711

CURRENT ASSETS
Stocks 402,770 442,630
Debtors 5 736,304 73,186
Cash at bank 821,167 440,790
1,960,241 956,606
CREDITORS
Amounts falling due within one year 6 1,217,499 381,377
NET CURRENT ASSETS 742,742 575,229
TOTAL ASSETS LESS CURRENT
LIABILITIES

747,880

577,940

PROVISIONS FOR LIABILITIES 7 1,284 678
NET ASSETS 746,596 577,262

CAPITAL AND RESERVES
Called up share capital 120 100
Retained earnings 746,476 577,162
746,596 577,262

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

ZERO WORKSPACE LIMITED (REGISTERED NUMBER: 13247005)

BALANCE SHEET - continued
31ST MARCH 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 22nd October 2024 and were signed on its behalf by:




T Morrison - Director



D Stewart - Director


ZERO WORKSPACE LIMITED (REGISTERED NUMBER: 13247005)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Zero Workspace Limited 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.

Significant judgements and estimates
In application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below;

Estimation of depreciation

In selecting appropriate depreciation policies management must exercise a certain level of estimation when determining the expected useful life of assets purchased. Assets are continually reviewed for impairment and are written off immediately when no longer in use.

Estimation of work in progress valuation

In establishing the percentage completion of work in progress as at the year end management must exercise a certain level of estimation when assessing the completion stage of each job and whether it is probable that consideration will be received on completion.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts.

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 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.

Amounts received in advance of service to customers are recognised as deferred income and presented within creditors:amounts falling due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

ZERO WORKSPACE LIMITED (REGISTERED NUMBER: 13247005)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stock and work in progress are valued at the lower of cost and net realisable value. When the outcome of a transaction involving the rendering of services can be estimated reliably, revenue is calculated by reference to the percentage of completion of the transaction at the end of the reporting period.

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.

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 - 3 ) .

ZERO WORKSPACE LIMITED (REGISTERED NUMBER: 13247005)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 7,495
Additions 6,538
At 31st March 2024 14,033
DEPRECIATION
At 1st April 2023 4,784
Charge for year 4,111
At 31st March 2024 8,895
NET BOOK VALUE
At 31st March 2024 5,138
At 31st March 2023 2,711

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 817,483 62,411
Provision for bad debts (96,965 ) -
Other debtors 9,004 8,941
Tax 1,919 -
Prepayments 4,863 1,834
736,304 73,186

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 732,083 224,625
Corporation tax 130,596 93,113
Social security and other taxes - 11,125
VAT 350,315 49,489
Other creditors 2,122 257
Directors' current accounts 1,013 1,587
Accrued expenses 1,370 1,181
1,217,499 381,377

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 1,284 678

ZERO WORKSPACE LIMITED (REGISTERED NUMBER: 13247005)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st April 2023 678
Charge to Income Statement during year 606
Accelerated capital allowances
Balance at 31st March 2024 1,284

8. RELATED PARTY DISCLOSURES

Mr D Stewart is the controlling party of David J Stewart Ltd by virtue of his 100% shareholding.

Mr D Stewart is a 50% shareholder and director of Zero Workspace Ltd.


Mr T Morrison is the controlling party of LUMIA I.S Ltd by virtue of his 100% shareholding.

Mr T Morrison is a 50% shareholder and director of Zero Workspace Ltd.

9. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.