ZUTEC INC. (UK) LIMITED

Company Registration Number:
09335281 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2024

Period of accounts

Start date: 01 July 2023

End date: 30 June 2024

ZUTEC INC. (UK) LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Balance sheet
Notes

ZUTEC INC. (UK) LIMITED

Balance sheet

As at 30 June 2024


Notes

2024

2023


£

£
Called up share capital not paid: 100 100
Fixed assets
Tangible assets: 3 13,405 16,764
Total fixed assets: 13,405 16,764
Current assets
Debtors: 4 158,484 143,146
Cash at bank and in hand: 174,161 16,821
Total current assets: 332,645 159,967
Net current assets (liabilities): 332,645 159,967
Total assets less current liabilities: 346,150 176,831
Creditors: amounts falling due after more than one year:   (6,129,539) (4,092,950)
Total net assets (liabilities): (5,783,389) (3,916,119)
Capital and reserves
Called up share capital: 100 100
Other reserves: 177,701 122,179
Profit and loss account: (5,961,190) (4,038,398)
Shareholders funds: (5,783,389) (3,916,119)

The notes form part of these financial statements

ZUTEC INC. (UK) LIMITED

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 March 2025
and signed on behalf of the board by:

Name: Bruce Morrison
Status: Director

The notes form part of these financial statements

ZUTEC INC. (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised. Rendering of Service Turnover from a contract to provide services is recognised in the period in which the services are provided when all of the following conditions are satisfied. the amount of turnover can be measured reliably, it is probable that the company will receive the consideration due under the contract, and the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets and depreciation policy

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation and accumulated impairment losses. Costs includes the original purchase price, costs directly attributable to bring the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised. Depreciation and residual values Depreciation is provided on a straight line basis at rates, which are estimated to reduce the assets to realisable values by the end of their expected useful lives as follows. Computer equipment 33% Straight line The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. Derecognition Property, plant and equipment are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Statement of Comprehensive Income.

ZUTEC INC. (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

2. Employees

2024 2023
Average number of employees during the period 22 20

ZUTEC INC. (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible Assets

Total
Cost £
At 01 July 2023 26,633
Additions 5,105
At 30 June 2024 31,738
Depreciation
At 01 July 2023 9,869
Charge for year 8,464
At 30 June 2024 18,333
Net book value
At 30 June 2024 13,405
At 30 June 2023 16,764

ZUTEC INC. (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

ZUTEC INC. (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Financial commitments

The company had no material capital commitments at the financial year ended 30 June 2024.

ZUTEC INC. (UK) LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Post balance sheet events

There are no reportable events after the balance sheet date.