Company Registration No. 5451780 (England and Wales)
Zyng Limited
Unaudited accounts
for the year ended 31 March 2024
Zyng Limited
Unaudited accounts
Contents
Zyng Limited
Company Information
for the year ended 31 March 2024
Directors
Mr A Pryce
Mrs L Pryce
Company Number
5451780 (England and Wales)
Registered Office
9 Middle Avenue
Farnham
Surrey
GU9 8JL
United Kingdom
Accountants
Wulmer Associates
Wulmer Cottage, Pitch Place
Thursley
Nr Godalming
Surrey
GU8 6QW
Zyng Limited
Statement of financial position
as at 31 March 2024
Tangible assets
1,389,854
1,394,040
Cash at bank and in hand
76,134
223,387
Creditors: amounts falling due within one year
(4,880)
(9,250)
Net current assets
71,704
216,831
Total assets less current liabilities
1,461,558
1,610,871
Creditors: amounts falling due after more than one year
(392,796)
(567,899)
Net assets
1,068,762
1,042,972
Called up share capital
260
260
Profit and loss account
1,068,502
1,042,712
Shareholders' funds
1,068,762
1,042,972
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by
Mr A Pryce
Director
Company Registration No. 5451780
Zyng Limited
Notes to the Accounts
for the year ended 31 March 2024
Zyng Limited is a private company, limited by shares, registered in England and Wales, registration number 5451780. The registered office is 9 Middle Avenue, Farnham, Surrey, GU9 8JL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment.
Depreciation is not charged on freehold and long leasehold land and buildings.
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Zyng Limited
Notes to the Accounts
for the year ended 31 March 2024
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Expenditure on research and development is written off in the year in which it is incurred.
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
1,373,110
32,700
9,119
1,414,929
At 31 March 2024
1,373,110
32,700
9,119
1,414,929
At 1 April 2023
-
11,772
9,117
20,889
Charge for the year
-
4,186
-
4,186
At 31 March 2024
-
15,958
9,117
25,075
At 31 March 2024
1,373,110
16,742
2
1,389,854
At 31 March 2023
1,373,110
20,928
2
1,394,040
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
785
-
Other creditors
1,845
7,000
Zyng Limited
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
392,796
567,899
8
Average number of employees
During the year the average number of employees was 3 (2023: 4).