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Registration number: 09677671

Zanex Associates Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Zanex Associates Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Zanex Associates Limited

Company Information

Director:

Mr G B Duncan

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registered number:

09677671

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Zanex Associates Limited

(Registration number: 09677671)
Balance Sheet as at 30 April 2024

Note

30.04.24

30.04.23

   

£

£

£

£

FIXED ASSETS

   

 

Investments

4

 

61

 

61

CURRENT ASSETS

   

 

Debtors

6

130,258

 

725,000

 

Other financial assets

5

3,821,370

 

3,167,135

 

Cash at bank and in hand

 

4,613,598

 

4,253,219

 

 

8,565,226

 

8,145,354

 

CREDITORS

   

 

Creditors within 1yr

7

16,459

 

11,981

 

Net current assets

   

8,548,767

 

8,133,373

Total assets less current liabilities

   

8,548,828

 

8,133,434

PROVISIONS FOR LIABILITIES

 

(67,497)

 

-

Net assets

   

8,481,331

 

8,133,434

CAPITAL AND RESERVES

   

 

Called up share capital

 

99

 

99

Other reserves

 

202,491

 

-

Profit and loss account

 

8,278,741

 

8,133,335

Shareholders' funds

   

8,481,331

 

8,133,434

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

 

Zanex Associates Limited

(Registration number: 09677671)
Balance Sheet as at 30 April 2024 (continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 January 2025

.........................................
Mr G B Duncan
Director

 

Zanex Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1.

General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the director on 20 January 2025.

2.

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Summary of disclosure exemptions

Preparation of consolidated financial statements
The financial statements contain information about Zanex Associates Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
.

Tax

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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Zanex Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3.

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4.

Investments

30.04.24
£

30.04.23
£

Investments in subsidiaries

1

1

Investments in associates

60

60

61

61

Associates

£

Cost

At 1 May 2023

60

Provision

Carrying amount

At 30 April 2024

60

At 30 April 2023

60

 

Zanex Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Standway Ltd

Savoy House, Savoy Circus, London W3 7DA

Ordinary

100%

100%

Harwell Oxford Partners Limited

Savoy House, Savoy Circus, London W3 7DA

A Ordinary

33.33%

33.33%

5.

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Current financial assets

Cost or valuation

At 1 May 2023

3,167,134

Additions

734,365

Disposals

(356,144)

Fair value adjustments

276,015

At 30 April 2024

3,821,370

Carrying amount

At 30 April 2024

3,821,370

 

Zanex Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6.

Debtors

Current

30.04.24
£

30.04.23
£

Other debtors

130,258

725,000

 

130,258

725,000

7.

Creditors

Creditors: amounts falling due within one year

Note

30.04.24
£

30.04.23
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

6,361

8,981

Taxation and social security

 

7,014

-

Accruals and deferred income

 

3,084

3,000

 

16,459

11,981