Company registration number 06936244 (England and Wales)
ZJ MECHANICAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
ZJ MECHANICAL LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr J Nicholls
Company number
06936244
Registered office
Unit 1 Park Drive
Park Drive Industrial Estate
Park Drive
Braintree
Essex
England
CM7 1AW
Accountants
TC Group
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
ZJ MECHANICAL LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
267,721
332,977
Current assets
Stocks
28,609
5,000
Debtors
4
1,562,963
1,633,717
Cash at bank and in hand
368,257
352,968
1,959,829
1,991,685
Creditors: amounts falling due within one year
5
(926,409)
(1,590,027)
Net current assets
1,033,420
401,658
Total assets less current liabilities
1,301,141
734,635
Creditors: amounts falling due after more than one year
6
(69,016)
(115,734)
Provisions for liabilities
(66,930)
(74,359)
Net assets
1,165,195
544,542
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
1,165,095
544,442
Total equity
1,165,195
544,542
ZJ MECHANICAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 3 -

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 2 December 2024
Mr J Nicholls
Director
Company registration number 06936244 (England and Wales)
ZJ MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

ZJ Mechanical Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Park Drive, Park Drive Industrial Estate, Park Drive, Braintree, Essex, England, CM7 1AW.

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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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:

Plant and equipment
20% straight line
Fixtures and fittings
20% straight line
Computers
33% straight line
Motor vehicles
25% reducing balance
ZJ MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks and work in progress 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.

 

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 profit and loss account 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.

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 profit and loss account, 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.

ZJ MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 6 -
1.7
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.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

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

2024
2023
Number
Number
Total
24
32
ZJ MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2023
87,219
35,320
47,843
375,308
545,690
Additions
-
0
2,790
2,831
119,333
124,954
Disposals
-
0
-
0
(42,077)
(157,680)
(199,757)
At 30 June 2024
87,219
38,110
8,597
336,961
470,887
Depreciation and impairment
At 1 July 2023
35,694
7,522
36,685
132,812
212,713
Depreciation charged in the year
17,444
7,435
10,580
71,654
107,113
Eliminated in respect of disposals
-
0
-
0
(42,077)
(74,583)
(116,660)
At 30 June 2024
53,138
14,957
5,188
129,883
203,166
Carrying amount
At 30 June 2024
34,081
23,153
3,409
207,078
267,721
At 30 June 2023
51,525
27,798
11,158
242,496
332,977
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
604,013
1,103,753
Other debtors
958,950
529,964
1,562,963
1,633,717
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
297,674
639,887
Taxation and social security
296,729
174,325
Other creditors
322,006
765,815
926,409
1,590,027
ZJ MECHANICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,167
19,167
Other creditors
59,849
96,567
69,016
115,734

Included in other creditors are finance lease liabilities of £150,465 (2023: £193,854), which are secured on the assets acquired.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
8
Operating lease commitments
Lessee

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

2024
2023
£
£
-
0
5,038
9
Related party transactions

At the balance sheet date the following amounts were due to the company and are included within Other Debtors:

Amounts owed by key management personnel - £386,747 (2023: £120,676)

Amounts owed by entities under common control - £212,827 (2023: £212,827)

10
Directors' transactions

During the year £369,404 (2023: £398,938) was advanced to the director and £103,333 (2023: £283,003) repaid. Interest was charged at an average rate of 2.25%.

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