Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31false2023-02-012falseThe principal activity of the company continued to be that of the provision of machine learning and artificial intelligence consultancy services.2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11511584 2023-02-01 2024-01-31 11511584 2024-01-31 11511584 2022-02-01 2023-01-31 11511584 2023-01-31 11511584 c:Director1 2023-02-01 2024-01-31 11511584 d:PlantMachinery 2023-02-01 2024-01-31 11511584 d:PlantMachinery 2024-01-31 11511584 d:PlantMachinery 2023-01-31 11511584 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 11511584 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 11511584 d:MotorVehicles 2023-02-01 2024-01-31 11511584 d:MotorVehicles 2024-01-31 11511584 d:MotorVehicles 2023-01-31 11511584 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 11511584 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 11511584 d:OfficeEquipment 2023-02-01 2024-01-31 11511584 d:OfficeEquipment 2024-01-31 11511584 d:OfficeEquipment 2023-01-31 11511584 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 11511584 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 11511584 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 11511584 d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 11511584 d:CurrentFinancialInstruments 2024-01-31 11511584 d:CurrentFinancialInstruments 2023-01-31 11511584 d:Non-currentFinancialInstruments 2024-01-31 11511584 d:Non-currentFinancialInstruments 2023-01-31 11511584 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 11511584 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 11511584 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 11511584 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 11511584 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 11511584 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 11511584 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 11511584 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 11511584 d:ShareCapital 2024-01-31 11511584 d:ShareCapital 2023-01-31 11511584 d:RetainedEarningsAccumulatedLosses 2024-01-31 11511584 d:RetainedEarningsAccumulatedLosses 2023-01-31 11511584 c:FRS102 2023-02-01 2024-01-31 11511584 c:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 11511584 c:FullAccounts 2023-02-01 2024-01-31 11511584 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11511584 d:HirePurchaseContracts d:WithinOneYear 2024-01-31 11511584 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 11511584 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-01-31 11511584 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-01-31 11511584 2 2023-02-01 2024-01-31 11511584 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Registered number: 11511584


Z RESEARCH LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
Z RESEARCH LIMITED
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF Z RESEARCH LIMITED
FOR THE YEAR ENDED 31 JANUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Z Research Limited for the year ended 31 January 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of Z Research Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Z Research Limited and state those matters that we have agreed to state to the director of Z Research Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Z Research Limited and its director for our work or for this report. 

It is your duty to ensure that Z Research Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Z Research Limited. You consider that Z Research Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Z Research Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Wellers
Accountants
8 King Edward Street
Oxford
OX1 4HL
27 October 2024
Page 1

 
Z RESEARCH LIMITED
REGISTERED NUMBER: 11511584

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
227
34,810

  
227
34,810

Current assets
  

Stocks
 5 
-
15,000

Debtors: amounts falling due within one year
 6 
877
648

Cash at bank and in hand
 7 
611
1,908

  
1,488
17,556

Creditors: amounts falling due within one year
 8 
(30,577)
(50,617)

Net current liabilities
  
 
 
(29,089)
 
 
(33,061)

Total assets less current liabilities
  
(28,862)
1,749

Creditors: amounts falling due after more than one year
 9 
(6,771)
(24,139)

  

Net liabilities
  
(35,633)
(22,390)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(35,733)
(22,490)

  
(35,633)
(22,390)


Page 2

 
Z RESEARCH LIMITED
REGISTERED NUMBER: 11511584
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr S Zohren
Director

Date: 27 October 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
Z RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Z Research Limited is a private limited liability company incorporated in England and Wales with a company number of 11511584. The company's registered office is situated at 8 King Edward Street, Oxford, OX1 4HL. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

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 the 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.

 
2.3

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
Z RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Straight-line
Motor vehicles
-
20%
Reducing balance
Office equipment
-
33%
Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
Z RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2023
975
52,440
4,025
57,440


Disposals
(975)
(52,440)
-
(53,415)



At 31 January 2024

-
-
4,025
4,025



Depreciation


At 1 February 2023
711
18,879
3,041
22,631


Charge for the year on owned assets
244
-
757
1,001


Charge for the year on financed assets
-
6,712
-
6,712


Disposals
(955)
(25,591)
-
(26,546)



At 31 January 2024

-
-
3,798
3,798



Net book value



At 31 January 2024
-
-
227
227



At 31 January 2023
264
33,561
985
34,810

Page 6

 
Z RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Stocks and work in progress

2024
2023
£
£

Work in progress
-
15,000

-
15,000



6.


Debtors

2024
2023
£
£


Other debtors
877
84

Prepayments and accrued income
-
564

877
648



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
611
1,908

611
1,908



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
4,140
4,038

Trade creditors
660
3,020

Obligations under finance lease and hire purchase contracts
-
10,765

Other creditors
22,277
29,694

Accruals and deferred income
3,500
3,100

30,577
50,617


Page 7

 
Z RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,771
10,911

Net obligations under finance leases and hire purchase contracts
-
13,228

6,771
24,139



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
4,140
4,038


4,140
4,038

Amounts falling due 1-2 years

Bank loans
4,245
4,140


4,245
4,140

Amounts falling due 2-5 years

Bank loans
2,526
6,771


2,526
6,771


10,911
14,949


Page 8

 
Z RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
-
10,765

Between 1-5 years
-
11,228

-
21,993


12.


Controlling party

The company is a wholly owned subsidiary of Sigma Z Holdings Limited (Company number: 12373892), a company incorporated in England and Wales. Sigma Z Holdings Limited's registered office is situated at 8 King Edward Street, Oxford, OX1 4HL. 
 
Page 9