Registered number
08378462
ZZISH LIMITED
Filleted Accounts
31 January 2024
ZZISH LIMITED
Registered number: 08378462
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 12,808 19,270
Current assets
Debtors 4 39,533 91,959
Cash at bank and in hand 11,377 52,365
50,910 144,324
Creditors: amounts falling due within one year 5 (295,173) (169,564)
Net current liabilities (244,263) (25,240)
Total assets less current liabilities (231,455) (5,970)
Creditors: amounts falling due after more than one year 6 (846,035) (706,456)
Net liabilities (1,077,490) (712,426)
Capital and reserves
Called up share capital 3,787 3,668
Share premium 5,965,028 5,602,188
Profit and loss account (7,046,305) (6,318,282)
Shareholders' funds (1,077,490) (712,426)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Charles Wiles
Director
Approved by the board on 31 January 2025
ZZISH LIMITED
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
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).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & Fittings 20% Straight line basus
Computer Equipment 20% Straight line basus
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 10
3 Tangible fixed assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
At 1 February 2023 5,304 36,839 42,143
Additions - 832 832
At 31 January 2024 5,304 37,671 42,975
Depreciation
At 1 February 2023 4,013 18,860 22,873
Charge for the year 884 6,410 7,294
At 31 January 2024 4,897 25,270 30,167
Net book value
At 31 January 2024 407 12,401 12,808
At 31 January 2023 1,291 17,979 19,270
4 Debtors 2024 2023
£ £
VAT recoverable 29,707 7,939
Trade debtors 9,826 74,267
Accrued income and prepayments - 6,540
Other debtors - 3,213
39,533 91,959
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,216 3,216
Trade creditors 1,200 -
Directors loan account 47,980 2,000
Taxation and social security costs 242,777 163,717
Other creditors - 631
295,173 169,564
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,041 6,257
Unissued share capital 842,994 700,199
846,035 706,456
7 Going concern
The director has the support of the main shareholders and as such believes that the company is a going concern.
8 Controlling party
The director believe there is no single controlling party.
9 Other information
ZZISH LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Associates House
118A East Barnet Road
Barnet
Herts
EN4 8RE
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