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REGISTERED NUMBER: 08989213 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

ZEN BEARINGS LIMITED

ZEN BEARINGS LIMITED (REGISTERED NUMBER: 08989213)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

ZEN BEARINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Y Zens-Pirker
A Zens





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 08989213 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

ZEN BEARINGS LIMITED (REGISTERED NUMBER: 08989213)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 193 288
Investments 5 27,125 27,125
27,318 27,413

CURRENT ASSETS
Debtors 6 1,890,533 1,257,404
Cash at bank 18,881 341,988
1,909,414 1,599,392
CREDITORS
Amounts falling due within one year 7 97,245 81,316
NET CURRENT ASSETS 1,812,169 1,518,076
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,839,487

1,545,489

CREDITORS
Amounts falling due after more than one
year

8

320,443

400,000
NET ASSETS 1,519,044 1,145,489

CAPITAL AND RESERVES
Called up share capital 22,002 22,002
Retained earnings 1,497,042 1,123,487
1,519,044 1,145,489

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

ZEN BEARINGS LIMITED (REGISTERED NUMBER: 08989213)

BALANCE SHEET - continued
30 APRIL 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 21 November 2024 and were signed on its behalf by:





Y Zens-Pirker - Director


ZEN BEARINGS LIMITED (REGISTERED NUMBER: 08989213)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Zen Bearings 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.

The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

ZEN BEARINGS LIMITED (REGISTERED NUMBER: 08989213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 953
AMORTISATION
At 1 May 2023 665
Charge for year 95
At 30 April 2024 760
NET BOOK VALUE
At 30 April 2024 193
At 30 April 2023 288

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 27,125
NET BOOK VALUE
At 30 April 2024 27,125
At 30 April 2023 27,125

The company's investments at the Balance Sheet date in the share capital of companies include the following:

May (Imports) Limited
Registered office: 20 Havelock Road,Hastings,England
Nature of business: Import and group sale of miniature ball bearings
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 459,500 560,769
(Loss)/profit for the year (51,769 ) 75,581

Zen Bearings UK Limited
Registered office: 20 Havelock Road,Hastings,England
Nature of business: Supplier of miniature ball bearings
%
Class of shares: holding
Ordinary 100.00
31.8.23 31.8.22
£    £   
Aggregate capital and reserves 224,124 243,352
Profit for the year 57,355 54,071

ZEN BEARINGS LIMITED (REGISTERED NUMBER: 08989213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. FIXED ASSET INVESTMENTS - continued

SARL Rodaplus France
Registered office: France
Nature of business: Supplier of miniature ball bearings
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 152,878 284,118
Profit for the year 71,490 62,040

Zen Revolution Limited
Registered office: Hong Kong
Nature of business: Supplier of miniature ball bearings
%
Class of shares: holding
Ordinary 100.00
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 1,483,820 1,385,200
Profit for the year 208,877 420,487

Rodaplus S.L.
Registered office: Spain
Nature of business: Supplier of miniature ball bearings
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 547,516 568,945
Profit for the year 40,400 41,481

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 229,379 264,793
Amounts owed by group undertakings 998,378 838,788
Amounts owed by associates 662,776 151,503
Other debtors - 2,320
1,890,533 1,257,404

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 30,494 5,499
Taxation and social security 61,001 57,567
Other creditors 5,750 18,250
97,245 81,316

ZEN BEARINGS LIMITED (REGISTERED NUMBER: 08989213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Other creditors 320,443 400,000

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed director Mr Yago Zens £320,443 (2023: £400,000). This loan is interest free and repayable on demand.

At the balance sheet dates the following amounts were owed to the company by related parties:

30.4.24 30.4.23
£    £   
Rodaplus 78,631 80,662
Zen Vermietungs 149,963 151,503
May (Imports) 919,476 758,126
Zen NPT 512,811 0

Interest of £2,117 was charged on the Zen Vermietungs loan during the year. Other related party loans are interest free.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ZEN BEARINGS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Zen Bearings Limited for the year ended 30 April 2024 which comprise the Income Statement, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Zen Bearings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Zen Bearings Limited and state those matters that we have agreed to state to the Board of Directors of Zen Bearings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Zen Bearings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Zen Bearings 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 profit of Zen Bearings Limited. You consider that Zen Bearings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Zen Bearings 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.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


21 November 2024