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COMPANY REGISTRATION NUMBER: 12529970
LZ International Ltd
Filleted Unaudited Financial Statements
31 March 2024
LZ International Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
4,286
3,535
Current assets
Debtors
6
37,095
10,016
Cash at bank and in hand
1,941
47,051
--------
--------
39,036
57,067
Creditors: amounts falling due within one year
7
9,181
19,066
--------
--------
Net current assets
29,855
38,001
--------
--------
Total assets less current liabilities
34,141
41,536
--------
--------
Capital and reserves
Called up share capital
10
10
Profit and loss account
34,131
41,526
--------
--------
Shareholders funds
34,141
41,536
--------
--------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 March 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 his 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 22 November 2024 , and are signed on behalf of the board by:
Mr L Zelenkevich
Director
Company registration number: 12529970
LZ International Ltd
Notes to the Financial Statements
Period ended 31 March 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 Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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
-
10% straight line
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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 and loss account in other administrative expenses. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2023
1,732
3,749
5,481
Additions
1,731
1,731
-------
-------
-------
At 31 March 2024
1,732
5,480
7,212
-------
-------
-------
Depreciation
At 1 April 2023
519
1,427
1,946
Charge for the period
173
807
980
-------
-------
-------
At 31 March 2024
692
2,234
2,926
-------
-------
-------
Carrying amount
At 31 March 2024
1,040
3,246
4,286
-------
-------
-------
At 31 March 2023
1,213
2,322
3,535
-------
-------
-------
6. Debtors
2024
2023
£
£
Other debtors
37,095
10,016
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,337
22
Corporation tax
7,844
19,044
-------
--------
9,181
19,066
-------
--------
8. Director's advances, credits and guarantees
At the end of the year, the director owed the company £36,575 (2023: £9,668). During the year, the director made aggregate advances of £67,704 and aggregate repayments of £42,055. Interest was charged at 2.25% on any overdrawn balances.