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ZPN ENERGY LIMITED

Registered Number
09391462
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

ZPN ENERGY LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

FAWKES, Steven Derrick, Dr
FOSTER, James
HICK, Karl Stephen

Registered Address

The Proving Factory Gielgud Way
Cross Point Business Park
Coventry
CV2 2SZ

Registered Number

09391462 (England and Wales)
ZPN ENERGY LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets32,072,0542,072,054
Tangible assets49,57718,584
Investments10,50010,500
2,092,1312,101,138
Current assets
Stocks1,172,1251,288,912
Debtors843,464866,724
Cash at bank and on hand15,86721,759
2,031,4562,177,395
Creditors amounts falling due within one year(2,955,076)(2,544,484)
Net current assets (liabilities)(923,620)(367,089)
Total assets less current liabilities1,168,5111,734,049
Creditors amounts falling due after one year(1,066,905)(966,905)
Net assets101,606767,144
Capital and reserves
Called up share capital9,4845,429
Share premium6,271,3025,529,156
Revaluation reserve1,670,8801,670,880
Profit and loss account(7,850,060)(6,438,321)
Shareholders' funds101,606767,144
The financial statements were approved and authorised for issue by the Board of Directors on 19 February 2025, and are signed on its behalf by:
FOSTER, James
Director
Registered Company No. 09391462
ZPN ENERGY LIMITED
Notes to the Financial Statements
for the year ended 30 June 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 financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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 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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Interest income
Interest income is recognised using the effective interest rate method.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Patents Patents and other intellectual property are stated at cost, and will be amortised over the useful life of the income stream it generates.
Research and development
All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery4
Fixtures and fittings4
Vehicles4
Office Equipment4
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other 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.
Trade and other 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.
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. During the year 405,545 ordinary shares of 1p each were allotted and fully paid at a premium of £1.83 per share.
2.Average number of employees

20242023
Average number of employees during the year1213
3.Intangible assets

Total

£
Cost or valuation
At 01 July 232,072,054
At 30 June 242,072,054
Net book value
At 30 June 242,072,054
At 30 June 232,072,054
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 2388,095
Additions9,534
At 30 June 2489,795
Depreciation and impairment
At 01 July 2369,510
Charge for year18,542
At 30 June 2480,217
Net book value
At 30 June 249,577
At 30 June 2318,584
5.Share capital
Reserves Retained earnings Share Capital Share Premium Revaluation Reserve Totals At 1 July 2023 (6,438,321) 5,429 5,529,156 1,670,880 767,144 Deficit for the year (1,379,051) - - - (1,379,051) Share issue (92,000) 4,055 742,146 - 654,201 At 30 June 2024 (7,909,372) 9,484 6,271,302 1,670,880 42,294