Company registration number 09035704 (England and Wales)
ZENITH DL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ZENITH DL LIMITED
COMPANY INFORMATION
Directors
Mr A J Taylor
Mr P Fleming
Company number
09035704
Registered office
1st Floor 8 Sandpiper Court
Harrington Lane
Exeter
Devon
United Kingdom
EX4 8NS
Accountants
Streets Bush Limited
2 Barnfield Crescent
Exeter
EX1 1QT
ZENITH DL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
ZENITH DL LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
51,653
13,534
Current assets
Stocks
11,500
7,500
Debtors
4
61,967
93,059
Cash at bank and in hand
77,110
105,659
150,577
206,218
Creditors: amounts falling due within one year
5
(90,843)
(54,565)
Net current assets
59,734
151,653
Total assets less current liabilities
111,387
165,187
Creditors: amounts falling due after more than one year
6
(36,009)
(17,431)
Provisions for liabilities
(10,738)
(2,880)
Net assets
64,640
144,876
Capital and reserves
Called up share capital
200
200
Retained earnings
64,440
144,676
Total equity
64,640
144,876
ZENITH DL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have 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 by the board of directors and authorised for issue on 25 November 2024 and are signed on its behalf by:
Mr A J Taylor
Mr P Fleming
Director
Director
Company Registration No. 09035704
ZENITH DL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Zenith DL Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor 8 Sandpiper Court, Harrington Lane, Exeter, Devon, United Kingdom, EX4 8NS.

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. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% on cost
Plant and equipment
20% on cost
Fixtures and fittings
20% on cost
Computers
Straight line over 3 years
ZENITH DL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

ZENITH DL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
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.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

ZENITH DL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
2
Employees

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

2024
2022
Number
Number
Total
7
6
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
7,814
73,037
80,851
Additions
9,831
49,411
59,242
Disposals
-
0
(3,423)
(3,423)
At 31 March 2024
17,645
119,025
136,670
Depreciation and impairment
At 1 January 2023
5,625
61,692
67,317
Depreciation charged in the year
2,204
18,919
21,123
Eliminated in respect of disposals
-
0
(3,423)
(3,423)
At 31 March 2024
7,829
77,188
85,017
Carrying amount
At 31 March 2024
9,816
41,837
51,653
At 31 December 2022
2,189
11,345
13,534
ZENITH DL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
4
Debtors
2024
2022
Amounts falling due within one year:
£
£
Trade debtors
45,454
51,277
Other debtors
16,513
41,782
61,967
93,059
5
Creditors: amounts falling due within one year
2024
2022
£
£
Bank loans
7,151
6,932
Trade creditors
18,704
13,188
Taxation and social security
23,344
26,150
Other creditors
41,644
8,295
90,843
54,565
6
Creditors: amounts falling due after more than one year
2024
2022
£
£
Bank loans and overdrafts
8,534
17,431
Other creditors
27,475
-
0
36,009
17,431
7
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2022
£
£
21,218
-
0
8
Related party transactions
ZENITH DL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
8
Related party transactions
(Continued)
- 8 -

Included in other creditors are amounts due to a director of £22,448. The loan is interest free and carries no fixed terms of repayment.

 

Included in other creditors are amounts due to companies under common control of the directors of £6,755. The loan is interest free and carries no fixed terms of repayment.

 

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