Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity712falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01492224 2023-04-01 2024-03-31 01492224 2022-04-01 2023-03-31 01492224 2024-03-31 01492224 2023-03-31 01492224 c:CompanySecretary1 2023-04-01 2024-03-31 01492224 c:Director1 2023-04-01 2024-03-31 01492224 c:Director2 2023-04-01 2024-03-31 01492224 c:Director3 2023-04-01 2024-03-31 01492224 c:Director4 2023-04-01 2024-03-31 01492224 c:Director5 2023-04-01 2024-03-31 01492224 c:RegisteredOffice 2023-04-01 2024-03-31 01492224 d:Buildings 2023-04-01 2024-03-31 01492224 d:Buildings 2024-03-31 01492224 d:Buildings 2023-03-31 01492224 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01492224 d:MotorVehicles 2023-04-01 2024-03-31 01492224 d:MotorVehicles 2024-03-31 01492224 d:MotorVehicles 2023-03-31 01492224 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01492224 d:FurnitureFittings 2023-04-01 2024-03-31 01492224 d:OfficeEquipment 2023-04-01 2024-03-31 01492224 d:ComputerEquipment 2023-04-01 2024-03-31 01492224 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01492224 d:CurrentFinancialInstruments 2024-03-31 01492224 d:CurrentFinancialInstruments 2023-03-31 01492224 d:Non-currentFinancialInstruments 2024-03-31 01492224 d:Non-currentFinancialInstruments 2023-03-31 01492224 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01492224 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01492224 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 01492224 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01492224 d:ShareCapital 2024-03-31 01492224 d:ShareCapital 2023-03-31 01492224 d:RevaluationReserve 2023-04-01 2024-03-31 01492224 d:RevaluationReserve 2024-03-31 01492224 d:RevaluationReserve 2023-03-31 01492224 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 01492224 d:RetainedEarningsAccumulatedLosses 2024-03-31 01492224 d:RetainedEarningsAccumulatedLosses 2023-03-31 01492224 c:FRS102 2023-04-01 2024-03-31 01492224 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01492224 c:FullAccounts 2023-04-01 2024-03-31 01492224 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01492224 6 2023-04-01 2024-03-31 01492224 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 01492224 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: 01492224







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


ZEEFAX LIMITED






































img0709.png                        

 


ZEEFAX LIMITED
 


 
COMPANY INFORMATION


Directors
M. Y. Beyad 
M. R. Beyad 
M. Beyad 
A. Beyad 
M. A. Beyad 




Company secretary
M. R. Beyad



Registered number
01492224



Registered office
Zeefax House
320 King Street

Hammersmith

London

W6 0RR




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


ZEEFAX LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8


 


ZEEFAX LIMITED
REGISTERED NUMBER:01492224



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,775,677
1,824,701

Investments
 5 
8,340
8,340

  
1,784,017
1,833,041

Current assets
  

Stocks
  
49,369
49,369

Debtors: amounts falling due after more than one year
 6 
12,538
13,938

Debtors: amounts falling due within one year
 6 
206,450
59,312

Cash at bank and in hand
  
321,704
458,394

  
590,061
581,013

Creditors: amounts falling due within one year
 7 
(349,333)
(263,580)

Net current assets
  
 
 
240,728
 
 
317,433

Total assets less current liabilities
  
2,024,745
2,150,474

Creditors: amounts falling due after more than one year
 8 
(87,473)
(233,732)

Provisions for liabilities
  

Deferred tax
 9 
(314,143)
(274,470)

  
 
 
(314,143)
 
 
(274,470)

Net assets
  
1,623,129
1,642,272

Page 1

 


ZEEFAX LIMITED
REGISTERED NUMBER:01492224


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Capital and reserves
  

Allotted, called up and fully paid share capital
  
212,000
212,000

Revaluation reserve
 10 
978,189
978,189

Profit and loss account
 10 
432,940
452,083

  
1,623,129
1,642,272


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M. R. Beyad
Director

Date: 27 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


ZEEFAX LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Zeefax Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Revenue consists of turnover derived from SCR services and electrical solutions. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 3

 


ZEEFAX LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 


ZEEFAX LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method. .

Depreciation is provided on the following basis:

Land and buildings
-
                     Over 50 years - Straight line
Motor vehicles
-
                     Over 4 years
Fixtures and fittings
-
                     Between 3 and 10 years - Straight line
Furniture and equipment
-
                     Between 3 and 10 years - Straight line
Computer equipment
-
                     Over 4 years - Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 12).


4.


Tangible fixed assets





Land and building
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 April 2023
2,061,794
25,729
2,087,523



At 31 March 2024

2,061,794
25,729
2,087,523



Depreciation


At 1 April 2023
256,390
6,432
262,822


Charge for the year
42,592
6,432
49,024



At 31 March 2024

298,982
12,864
311,846



Net book value



At 31 March 2024
1,762,812
12,865
1,775,677



At 31 March 2023
1,805,404
19,297
1,824,701

Page 5

 


ZEEFAX LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Shares in group undertaking

£



Cost or valuation


At 1 April 2023
8,340



At 31 March 2024
8,340





6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
12,538
13,938

12,538
13,938


2024
2023
£
£

Due within one year

Trade debtors
145,690
15,649

Amounts owed by group undertakings
40,597
43,663

Amounts owed by related undertakings
1,654
-

Prepayments and accrued income
18,509
-

206,450
59,312


Page 6

 


ZEEFAX LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
33,799
31,987

Trade creditors
9,385
10,013

Amounts owed to group undertakings
12,000
12,000

Other taxation and social security
10,937
91,897

Obligations under finance lease and hire purchase contracts
2,299
2,215

Other creditors
123,827
102,156

Accruals and deferred income
157,086
13,312

349,333
263,580





8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
72,388
216,348

Net obligations under finance leases and hire purchase contracts
15,085
17,384

87,473
233,732


A bank loan of £82,861 is secured via a charge over the land and building in the company.


9.


Deferred taxation




2024


£






At beginning of year
(274,470)


Charged to profit or loss
(39,673)



At end of year
(314,143)

2024
2023
£
£


Capital gains
(314,143)
(274,470)

(314,143)
(274,470)

Page 7

 


ZEEFAX LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
9.Deferred taxation (continued)


The deferred tax liability includes a provision for potential capital gains that would become payable if the land and buildings held by the company were to be sold in the future.


10.


Reserves

Revaluation reserve

This reserve records uplift in asset values above its costs, for assets held at revaluation.

Profit and loss account

This reserve records retained earnings and accumulated losses.


 
Page 8