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ZAF AMBITIONS LIMITED

Registered Number
05418681
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

ZAF AMBITIONS LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

JIVRAJ, Arif Abdul

Registered Address

Suite 201 Moda Business Centre
Stirling Way
Borehamwood
WD6 2BW

Registered Number

05418681 (England and Wales)
ZAF AMBITIONS LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets335,77155,014
35,77155,014
Current assets
Stocks46,73014,560
Debtors567,787102,077
Cash at bank and on hand656,418443,332
730,935559,969
Creditors amounts falling due within one year6(228,046)(265,326)
Net current assets (liabilities)502,889294,643
Total assets less current liabilities538,660349,657
Creditors amounts falling due after one year7-(22,559)
Provisions for liabilities8(7,830)(9,421)
Net assets530,830317,677
Capital and reserves
Called up share capital1,2501,250
Profit and loss account529,580316,427
Shareholders' funds530,830317,677
The financial statements were approved and authorised for issue by the Director on 21 January 2025, and are signed on its behalf by:
JIVRAJ, Arif Abdul
Director
Registered Company No. 05418681
ZAF AMBITIONS LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Operating leases
Rentals payable under operating lease, including any lease incentive received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative time pattern in which economic benefits from the lease asset are consumed.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-15
Plant and machinery10-
Fixtures and fittings25-
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Financial instruments
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets: Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year916
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Total

££££
Cost or valuation
At 01 May 23212,227144,732228,638585,597
Additions-2,305-2,305
Disposals-(128,114)-(128,114)
Transfers(91,213)91,213--
At 30 April 24121,014110,136228,638459,788
Depreciation and impairment
At 01 May 23209,65694,239226,688530,583
Charge for year2573,7194884,464
On disposals-(111,030)-(111,030)
Other adjustments(91,213)91,213--
At 30 April 24118,70078,141227,176424,017
Net book value
At 30 April 242,31431,9951,46235,771
At 30 April 232,57150,4931,95055,014
Land and building includes short leasehold and improvements to property.
4.Stocks

2024

2023

££
Raw materials and consumables6,73014,560
Total6,73014,560
5.Debtors: amounts due within one year

2024

2023

££
Other debtors63,26393,097
Prepayments and accrued income4,5248,980
Total67,787102,077
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables13,08224,951
Bank borrowings and overdrafts10,07710,648
Taxation and social security66,63749,363
Other creditors129,187175,196
Accrued liabilities and deferred income9,0635,168
Total228,046265,326
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts-22,559
Total-22,559
Included within other creditors falling due within one year and creditors falling due after more than one year is £10,077 (2023: £33,208) in respect of a bank loan which is guaranteed by the government under Coronavirus Business Interruption Loan Scheme.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)7,8309,421
Total7,8309,421
9.Other commitments
LEASING AGREEMENTS: Minimum lease payments under non-cancellable operating leases fall due as follows: Due within one year: £52,250 (2023: £119,250)
10.Related party transactions
Included in other debtors falling due within one year are due from Subxl Ltd £42,703 (2023: £42,703); a company connected to the director. Included in other creditors falling due within one year is due to ZAF Holding Ltd £45,000 (2023: £45,000), a company connected to the director. Also, included in other creditors falling due within one year are the amount due to the director £63,966 (2023: £112,040).