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Registration number: 07612253

Zealous Solutions Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Zealous Solutions Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Zealous Solutions Ltd

(Registration number: 07612253)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

6,371

8,101

Current assets

 

Debtors

6

3,794

3,351

Cash at bank and in hand

 

191,411

162,855

 

195,205

166,206

Creditors: Amounts falling due within one year

7

(423,917)

(69,411)

Net current (liabilities)/assets

 

(228,712)

96,795

Net (liabilities)/assets

 

(222,341)

104,896

Capital and reserves

 

Called up share capital

8

1,823,417

1,823,417

Share premium reserve

1,139,250

1,139,250

Retained earnings

(3,185,008)

(2,857,771)

Shareholders' (deficit)/funds

 

(222,341)

104,896

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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

Approved and authorised by the Board on 22 January 2025 and signed on its behalf by:
 

.........................................
Guy Christopher Armitage
Director

 

Zealous Solutions Ltd

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.

The address of its registered office is:
14 Cupar Road
London
SW11 4JW

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Zealous Solutions Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Fixture & Fittings

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

 

Zealous Solutions Ltd

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

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

4,826

4,051

 

Zealous Solutions Ltd

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

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 May 2023

18,236

18,236

Additions

3,096

3,096

At 30 April 2024

21,332

21,332

Depreciation

At 1 May 2023

10,135

10,135

Charge for the year

4,826

4,826

At 30 April 2024

14,961

14,961

Carrying amount

At 30 April 2024

6,371

6,371

At 30 April 2023

8,101

8,101

6

Debtors

Current

2024
£

2023
£

Trade debtors

443

-

Other debtors

3,351

3,351

 

3,794

3,351

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,376

2,630

Taxation and social security

4,626

8,970

Accruals and deferred income

1,950

1,950

Other creditors

413,965

55,861

423,917

69,411

 

Zealous Solutions Ltd

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

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.05 each

340,002

17,000

340,002

17,000

Ordinary B shares of £0.05 each

8,331

417

8,331

417

Ordinary E shares of £1 each

1,806,000

1,806,000

1,806,000

1,806,000

2,154,333

1,823,417

2,154,333

1,823,417

9

Related party transactions

Summary of transactions with other related parties

At the year-end, included in other creditors is an interest-free loan of £363,069 (2023: £4,801) due to the director, Guy Armitage.