Registered number
10359576
The Companies House
Crown Way
Cardiff
CF14 3UZ
Dear Sir,
Sub: Accounts for the period 1/1/23 to 31/12/23 for Zen World Limited
Ref : Registration number 10359576.
The company became a subsidiary in March 2022 of a large group primarily based in the United Stated of America and was included in the consolidated financial statements of the group when it was audited there by Cohreznick LLP). We are hoping to get the accounts for year 2023 audited locally in the next 2-4 months and would file any revisions accordingly. The 2022 audit is just finishing in the UK and the revised accounts should be filed shortly.
As the company is a micro-entity/small entity, it has herewith attached its Balance sheet and the relevant notes to accounts (and audit details from Cohreznick LLP main report for the entire group).
If you require any more information, please let us know
Thanking you
Yours faithfully,
Daniel Peachman
18/03/2025
Director
Zen World Limited
Registered number: 10359576
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Stocks 12,719 20,721
Debtors 4 26,970 5,491
Cash at bank and in hand 66,928 43,075
106,617 69,287
Creditors: amounts falling due within one year 5 (108,036) (75,499)
Net current liabilities (1,419) (6,212)
Net liabilities (1,419) (6,212)
Capital and reserves
Called up share capital 1 1
Profit and loss account (1,420) (6,213)
Shareholders' funds (1,419) (6,212)
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.
Daniel Peachman
Director
Approved by the board on 18 March 2025
Zen World Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Audit information
The audit report is qualified.
The company was audited as part of consolidated financial statements of its parent Viva 5 LLC Group in the USA
The audit report was qualified for the parent entity in the US as follows : The company is in violation of certain financial covenants after the balance sheet date, has a significant debt obligation due in Nov 2024, has suffered recent losses from operations, has a net equity deficiency and has stated that substantial doubts exists about its ability to continue as a going concern
Senior statutory auditor: CohnReznick LLP
Firm: CohnReznick LLP
Date of audit report: 03/01/2025
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
4 Debtors 2023 2022
£ £
Trade debtors 6,062 5,491
Amounts owed by group undertakings and undertakings in which the company has a participating interest 20,908 -
26,970 5,491
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 31,280 9,580
Amounts owed to group undertakings and undertakings in which the company has a participating interest 51,863 51,863
Taxation and social security costs 1,893 2,555
Other creditors 23,000 11,501
108,036 75,499
6 Other information
Zen World Limited is a private company limited by shares and incorporated in England. Its registered office is:
International House, 36-38 Cornhill,
London,
EC3V 3NG
7 Controlling party
The company is part of a large group and the details of the parent company undertakings are as below :
Smallest parent name/address USA Supplements LLC. 30 N. Gould St, Suite 6594. Sheridan, WY 82801, United States of America
Largest parent name/address Viva 5 Group LLC, 239 2ND Ave S Ste 200 Saint Petersburg, FL, 33701-4333 United States
Country of incorporation of smallest and largest parent United States of America
Address from which copies of the accounts of the largest parent undertaking that are publicly available can be obtained Viva 5 Group LLC, 239 2ND Ave S Ste 200 Saint Petersburg, FL, 33701-4333 United States
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