Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 11064797 Mr Thomas Gaff iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11064797 2023-02-28 11064797 2024-02-29 11064797 2023-03-01 2024-02-29 11064797 frs-core:CurrentFinancialInstruments 2024-02-29 11064797 frs-core:ComputerEquipment 2024-02-29 11064797 frs-core:ComputerEquipment 2023-03-01 2024-02-29 11064797 frs-core:ComputerEquipment 2023-02-28 11064797 frs-core:ShareCapital 2024-02-29 11064797 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11064797 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11064797 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 11064797 frs-bus:SmallEntities 2023-03-01 2024-02-29 11064797 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11064797 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11064797 frs-bus:OrdinaryShareClass1 2023-03-01 2024-02-29 11064797 frs-bus:OrdinaryShareClass1 2024-02-29 11064797 frs-bus:Director1 2023-03-01 2024-02-29 11064797 1 2023-03-01 2024-02-29 11064797 frs-countries:EnglandWales 2023-03-01 2024-02-29 11064797 2022-02-28 11064797 2023-02-28 11064797 2022-03-01 2023-02-28 11064797 frs-core:CurrentFinancialInstruments 2023-02-28 11064797 frs-core:ShareCapital 2023-02-28 11064797 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 11064797 frs-bus:OrdinaryShareClass1 2022-03-01 2023-02-28 11064797 1 2022-03-01 2023-02-28
Registered number: 11064797
Zolsec Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11064797
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 321 427
321 427
CURRENT ASSETS
Debtors 5 41,207 13,958
Cash at bank and in hand 9,066 7,322
50,273 21,280
Creditors: Amounts Falling Due Within One Year 6 (23,893 ) (11,190 )
NET CURRENT ASSETS (LIABILITIES) 26,380 10,090
TOTAL ASSETS LESS CURRENT LIABILITIES 26,701 10,517
NET ASSETS 26,701 10,517
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 26,699 10,515
SHAREHOLDERS' FUNDS 26,701 10,517
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Thomas Gaff
Director
31/05/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Zolsec Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11064797 . The registered office is 9 Merchant Court, Monkton Business Park South, Hebburn, NE31 2EX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. 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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% Reducing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Creative Team 3 4
3 4
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 956
As at 29 February 2024 956
Depreciation
As at 1 March 2023 529
Provided during the period 106
As at 29 February 2024 635
Net Book Value
As at 29 February 2024 321
As at 1 March 2023 427
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 34,935 13,897
Other debtors - 61
Corporation tax recoverable assets 6,272 -
41,207 13,958
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,469 112
VAT 4,114 8,176
Loan Account - ITC Service Limited 15,310 2,902
23,893 11,190
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1.000 each 2 2
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