Company Registration No. 09453485 (England and Wales)
Zlick Ltd
Unaudited accounts
for the year ended 29 February 2024
Zlick Ltd
Unaudited accounts
Contents
Zlick Ltd
Company Information
for the year ended 29 February 2024
Directors
Niroshan Balasubramaniam
Erki Koldits
Mari-Liis Ruutsalu
Christian Schroder
Company Number
09453485 (England and Wales)
Registered Office
Zlick Ltd
52 Grosvenor Gardens
London
Sw1W 0AU
United Kingdom
Accountants
The Accountancy Cloud
1 Fore Street Avenue
London
EC2Y 9DT
Zlick Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
3,127
4,125
Cash at bank and in hand
577,045
511,317
Creditors: amounts falling due within one year
(1,102,052)
(591,760)
Net current assets
712,828
187,256
Total assets less current liabilities
715,955
191,381
Provisions for liabilities
Other provisions
-
(5,900)
Net assets
715,955
185,481
Called up share capital
129
119
Share premium
1,124,034
696,143
Capital contribution reserve
-
51,708
Profit and loss account
(408,208)
(562,489)
Shareholders' funds
715,955
185,481
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 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 27 November 2024 and were signed on its behalf by
Niroshan Balasubramaniam
Director
Company Registration No. 09453485
Zlick Ltd
Notes to the Accounts
for the year ended 29 February 2024
Zlick Ltd is a private company, limited by shares, registered in England and Wales, registration number 09453485. The registered office is Zlick Ltd, 52 Grosvenor Gardens, London, Sw1W 0AU, 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.
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Turnover is generated through commissions receivable and is recognised at the consideration receivable less value added tax. In generating commission income, Zlick Limited acts as an agent as it is only an intermediary between the main supplier and the end consumer.
Expenditure on research and development is written off in the year in which it is incurred.
Research and Development Tax Credit
During the comparative financial year, Zlick Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102. No tax credit has been received in the 2024 financial year.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% straight line
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.
Zlick Ltd
Notes to the Accounts
for the year ended 29 February 2024
Creditors Falling Due Within One Year - Prior Period Adjustment
Creditors falling due within one year for the year ending 28 February 2023 has been restated by £152,834 to recognise the loan from Oru Holding. This is repayable on demand but was previously recognised under creditors falling due after more than one year.
Restatement of Prior Period
During the period, the company has identified that the 2023 research and development credit has been recorded as corporation tax in the profit and loss, which differs from previous years where it has been posted to other income.
The accounts has been restated to correct the impacted line items, resulting in the following adjustments:
Corporation tax restated from -£26,323 to £0
Other income restated from £0 to -£26,323
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Tangible fixed assets
Computer equipment
At 29 February 2024
13,405
At 29 February 2024
10,278
Amounts falling due within one year
Trade debtors
1,231,174
147,876
Accrued income and prepayments
-
91,512
Zlick Ltd
Notes to the Accounts
for the year ended 29 February 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
959,649
4,627
Other creditors
80,563
536,973
Other Creditors Includes:
- A loan from Oru Holding Company, a company wholly controlled by the director Erki Koldits, totalling £152,834 (2023: £152,834). This loan is interest-free and repayable on demand.
- A convertible loan balance is due to interest payments being released as they were previously accounted for but not expensed.
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Average number of employees
During the year the average number of employees was 3 (2023: 3).