IRIS Accounts Production v24.3.2.46 11309092 Board of Directors 1.1.23 31.12.23 31.12.23 Medium entities electric vehicle hire true false true true false false false true false Auditors Opinion These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 100.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh113090922022-12-31113090922023-12-31113090922023-01-012023-12-31113090922021-12-31113090922022-01-012022-12-31113090922022-12-3111309092ns15:EnglandWales2023-01-012023-12-3111309092ns14:PoundSterling2023-01-012023-12-3111309092ns10:Director12023-01-012023-12-3111309092ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3111309092ns10:MediumEntities2023-01-012023-12-3111309092ns10:Audited2023-01-012023-12-3111309092ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-01-012023-12-3111309092ns10:Medium-sizedCompaniesRegimeForAccounts2023-01-012023-12-3111309092ns10:FullAccounts2023-01-012023-12-311130909212023-01-012023-12-3111309092ns10:OrdinaryShareClass12023-01-012023-12-3111309092ns10:Director42023-01-012023-12-3111309092ns10:RegisteredOffice2023-01-012023-12-3111309092ns10:Director32023-01-012023-12-3111309092ns10:Director22023-01-012023-12-3111309092ns5:PreviouslyStatedAmount2023-01-012023-12-3111309092ns5:RetainedEarningsAccumulatedLossesns5:PriorPeriodIncreaseDecrease2023-01-012023-12-3111309092ns5:CurrentFinancialInstruments2023-12-3111309092ns5:CurrentFinancialInstruments2022-12-3111309092ns5:CurrentFinancialInstruments2021-12-3111309092ns5:Non-currentFinancialInstruments2023-12-3111309092ns5:Non-currentFinancialInstruments2022-12-3111309092ns5:Non-currentFinancialInstruments2021-12-3111309092ns5:ShareCapital2023-12-3111309092ns5:ShareCapital2022-12-3111309092ns5:ShareCapital2021-12-3111309092ns5:RetainedEarningsAccumulatedLosses2023-12-3111309092ns5:RetainedEarningsAccumulatedLosses2022-12-3111309092ns5:RetainedEarningsAccumulatedLosses2021-12-3111309092ns5:RetainedEarningsAccumulatedLossesns5:PreviouslyStatedAmount2022-01-012022-12-3111309092ns5:PreviouslyStatedAmount2022-01-012022-12-3111309092ns5:RetainedEarningsAccumulatedLossesns5:PreviouslyStatedAmount2022-12-3111309092ns5:PreviouslyStatedAmount2022-12-3111309092ns5:PriorPeriodIncreaseDecrease2023-01-012023-12-3111309092ns5:ShareCapital2022-12-3111309092ns5:RetainedEarningsAccumulatedLosses2022-12-3111309092ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3111309092ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3111309092ns5:OwnedAssets2023-01-012023-12-3111309092ns5:OwnedAssets2022-01-012022-12-3111309092ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3111309092ns5:PatentsTrademarksLicencesConcessionsSimilar2022-01-012022-12-3111309092ns5:HirePurchaseContracts2023-01-012023-12-3111309092ns5:HirePurchaseContracts2022-01-012022-12-3111309092ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3111309092ns5:PatentsTrademarksLicencesConcessionsSimilar2023-12-3111309092ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3111309092ns5:PlantMachinery2022-12-3111309092ns5:FurnitureFittings2022-12-3111309092ns5:MotorVehicles2022-12-3111309092ns5:ComputerEquipment2022-12-3111309092ns5:PlantMachinery2023-01-012023-12-3111309092ns5:FurnitureFittings2023-01-012023-12-3111309092ns5:MotorVehicles2023-01-012023-12-3111309092ns5:ComputerEquipment2023-01-012023-12-3111309092ns5:PlantMachinery2023-12-3111309092ns5:FurnitureFittings2023-12-3111309092ns5:MotorVehicles2023-12-3111309092ns5:ComputerEquipment2023-12-3111309092ns5:PlantMachinery2022-12-3111309092ns5:FurnitureFittings2022-12-3111309092ns5:MotorVehicles2022-12-3111309092ns5:ComputerEquipment2022-12-3111309092ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3111309092ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-3111309092ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-12-3111309092ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2022-12-3111309092ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3111309092ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2022-12-3111309092ns5:HirePurchaseContracts2023-12-3111309092ns5:HirePurchaseContracts2022-12-3111309092ns5:WithinOneYear2023-12-3111309092ns5:WithinOneYear2022-12-3111309092ns5:BetweenOneFiveYears2023-12-3111309092ns5:BetweenOneFiveYears2022-12-3111309092ns5:AllPeriods2023-12-3111309092ns5:AllPeriods2022-12-3111309092ns5:DeferredTaxation2022-12-3111309092ns5:DeferredTaxation2023-01-012023-12-3111309092ns5:DeferredTaxation2023-12-3111309092ns10:OrdinaryShareClass12023-12-3111309092ns5:RetainedEarningsAccumulatedLossesns5:PreviouslyStatedAmount2022-12-31
REGISTERED NUMBER: 11309092 (England and Wales)










Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2023

for

Zoomo London Ltd

Zoomo London Ltd (Registered number: 11309092)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 16


Zoomo London Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M P Johnson
M Nada





REGISTERED OFFICE: Unit 22 (Arches 848-849 and 849w)
Druid Street
London
SE1 2EY





REGISTERED NUMBER: 11309092 (England and Wales)





AUDITORS: Granite Morgan Smith Limited
Chartered Certified Accountants and
Statutory Auditors
122 Feering Hill
Feering
Colchester
Essex
CO5 9PY

Zoomo London Ltd (Registered number: 11309092)

Strategic Report
for the Year Ended 31 December 2023

Purpose of the Strategic Report

This strategic report aims to inform the stakeholders of Zoomo about the development, performance, and position of the company for the financial year ending 12/31/23. The report has been prepared in compliance with Sections 414A to 414D of the Companies Act 2006 (as amended by the Strategic Report and Directors' Report Regulations 2013) and aims to provide a fair review of the company's business, principal risks, and future prospects.

Business Review

Zoomo operates as a leading provider of e-bike rentals across the UK, Spain, France, Germany, Canada, US and Australia. The company caters to both individual and business customers, focusing on sustainable and cost-effective transportation solutions.

Development and Performance
- Revenue Growth: Revenue decreased by 41% year-on-year, reflecting the reduction in B2B revenue for e-bike rentals and fleet management solutions from 10 min grocery run companies. However, business has continued to grow its B2C revenue.
- Innovation: Introduced advanced e-bike models with improved battery life and enhanced safety features.
- Customer Base: Achieved a growth in the B2C customer base, driven by strategic marketing initiatives and partnerships.

Position

Zoomo maintains a strong market position as a sustainable mobility provider, with an expanding footprint in urban transportation. The company's focus on quality, innovation, and customer satisfaction ensures continued leadership in the e-bike rental market.

Principal Risks and Uncertainties

Operational Risks
- Supply Chain Disruptions: Potential delays in receiving components from suppliers could impact operations.
- Regulatory Changes: Variations in local and international e-mobility regulations may affect compliance and operational strategy.

Financial Risks
- Currency Fluctuations: Operating across multiple countries exposes the company to currency exchange risks.
- Credit Risk: Delays in customer payments may affect cash flow.

Environmental Risks
- Weather Dependency: Seasonal variations and adverse weather conditions could impact rental demand.
- Sustainability Challenges: Ensuring the environmental friendliness of the supply chain and end-of-life disposal of e-bike components.

Key Performance Indicators (KPIs)
1. Revenue Growth: Achieved growth.
2. Fleet Utilization Rate: Maintained a utilization rate of 85%, reflecting efficient use of assets.

Future Outlook
Zoomo aims to strengthen its position as a leader in sustainable urban mobility by:
1. Enhancing the e-bike portfolio with cutting-edge technology.
2. Building strategic partnerships to promote shared mobility solutions.
3. Focusing on cost optimization and operational efficiency.

Strategic Importance of Disclosure

The company recognizes the significance of transparent reporting and has included information of strategic importance that aligns with the requirements under the Companies Act. Additional environmental, social, and governance (ESG) disclosures are highlighted in the ESG report included in the annual financial statements.


Zoomo London Ltd (Registered number: 11309092)

Strategic Report
for the Year Ended 31 December 2023

ON BEHALF OF THE BOARD:





M P Johnson - Director


28 March 2025

Zoomo London Ltd (Registered number: 11309092)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
M P Johnson has held office during the whole of the period from 1 January 2023 to the date of this report.

Other changes in directors holding office are as follows:

Ms L A Conibear - resigned 29 January 2023

M Nada was appointed as a director after 31 December 2023 but prior to the date of this report.

C N J B De Juniac ceased to be a director after 31 December 2023 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Granite Morgan Smith Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M P Johnson - Director


28 March 2025

Report of the Independent Auditors to the Members of
Zoomo London Ltd

Qualified opinion
We have audited the financial statements of Zoomo London Ltd (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its loss for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion
We were not able to observe the counting of physical inventories, being that of spare parts and not vehicles, at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2023, which are included in the balance sheet at £1,051,427, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary. We did however observe the counting of physical inventories at 31 December 2024 and no issues were identified.


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning the inventory quantities of £1,051,427 held at 31 December 2023. We have concluded that where the other information refers to the inventory balance or related balances such as cost of sales, it may be materially misstated for the same reason.

Report of the Independent Auditors to the Members of
Zoomo London Ltd


Opinions on other matters prescribed by the Companies Act 2006
Except for the possible effects of the matter described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of the audit:
- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
Except for the matter described in the basis for qualified opinion section of our report, in the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

Arising solely from the limitation on the scope of our work relating to inventory, referred to above:
- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and
- we were unable to determine whether adequate accounting records have been kept.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made

Responsibilities of directors
As explained more fully in the directors' responsibilities statement set out on page 2 the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Zoomo London Ltd


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The following laws and regulations were identified as being of significance to the entity:

- Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and legislation, and distributable profits legislation.

- Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements include environmental regulations, health and safety legislation.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to
whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of board minutes and the performance of analytical
review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature,
timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities is located on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Report of the Independent Auditors to the Members of
Zoomo London Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Vincent Mark Mellett (Senior Statutory Auditor)
for and on behalf of Granite Morgan Smith Limited
Chartered Certified Accountants and
Statutory Auditors
122 Feering Hill
Feering
Colchester
Essex
CO5 9PY

28 March 2025

Zoomo London Ltd (Registered number: 11309092)

Income Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
as restated
Notes £    £   

TURNOVER 7,432,339 11,924,233

Cost of sales (2,552,984 ) (2,843,961 )
GROSS PROFIT 4,879,355 9,080,272

Administrative expenses (7,966,612 ) (8,492,500 )
OPERATING (LOSS)/PROFIT 4 (3,087,257 ) 587,772

Interest receivable and similar income 1,128 1,845
(3,086,129 ) 589,617

Interest payable and similar expenses 5 (125,757 ) -
(LOSS)/PROFIT BEFORE TAXATION (3,211,886 ) 589,617

Tax on (loss)/profit 6 (47,584 ) (608,620 )
LOSS FOR THE FINANCIAL YEAR (3,259,470 ) (19,003 )

Zoomo London Ltd (Registered number: 11309092)

Other Comprehensive Income
for the Year Ended 31 December 2023

31.12.23 31.12.22
as restated
Notes £    £   

LOSS FOR THE YEAR (3,259,470 ) (19,003 )


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(3,259,470

)

(19,003

)
Note
Prior year adjustment 7 181,292
TOTAL COMPREHENSIVE INCOME
SINCE LAST ANNUAL REPORT

(3,078,178

)

Zoomo London Ltd (Registered number: 11309092)

Balance Sheet
31 December 2023

31.12.23 31.12.22 1.1.22
as restated
Notes £    £    £   
FIXED ASSETS
Intangible assets 8 - 40,264 1,802
Tangible assets 9 3,453,704 5,400,378 4,082,664
3,453,704 5,440,642 4,084,466

CURRENT ASSETS
Stocks 10 1,051,427 2,197,724 2,588,310
Debtors 11 10,270,383 10,233,275 3,258,879
Cash at bank 287,972 2,207,336 1,109,425
11,609,782 14,638,335 6,956,614
CREDITORS
Amounts falling due within one year 12 (17,228,866 ) (19,160,923 ) (10,712,643 )
NET CURRENT LIABILITIES (5,619,084 ) (4,522,588 ) (3,756,029 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,165,380

)

918,054

328,437

CREDITORS
Amounts falling due after more than one
year

13

(128,452

)

-

-

PROVISIONS FOR LIABILITIES 16 (656,204 ) (608,620 ) -
NET (LIABILITIES)/ASSETS (2,950,036 ) 309,434 328,437

CAPITAL AND RESERVES
Called up share capital 17 100 100 100
Retained earnings 18 (2,950,136 ) 309,334 328,337
SHAREHOLDERS' FUNDS (2,950,036 ) 309,434 328,437

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





M P Johnson - Director


Zoomo London Ltd (Registered number: 11309092)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 100 328,337 328,437

Changes in equity
Total comprehensive income - (200,295 ) (200,295 )
Balance at 31 December 2022 100 128,042 128,142
Prior year adjustment - 181,292 181,292
As restated 100 309,334 309,434

Changes in equity
Total comprehensive income - (3,259,470 ) (3,259,470 )
Balance at 31 December 2023 100 (2,950,136 ) (2,950,036 )

Zoomo London Ltd (Registered number: 11309092)

Cash Flow Statement
for the Year Ended 31 December 2023

31.12.23 31.12.22
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,341,068 3,106,414
Interest paid (116,832 ) -
Interest element of hire purchase payments
paid

(8,925

)

-
Net cash from operating activities 1,215,311 3,106,414

Cash flows from investing activities
Purchase of intangible fixed assets - (39,628 )
Purchase of tangible fixed assets (1,559,028 ) (3,581,668 )
Sale of intangible fixed assets 36,302 -
Sale of tangible fixed assets 566,024 1,788,978
Interest received 1,128 1,845
Net cash from investing activities (955,574 ) (1,830,473 )

Cash flows from financing activities
Loan repayments in year (1,869,588 ) (328,374 )
Repayment of overdraft (150,344 ) -
Capital repayments in year (8,825 ) -
Net cash from financing activities (2,028,757 ) (328,374 )

(Decrease)/increase in cash and cash equivalents (1,769,020 ) 947,567
Cash and cash equivalents at beginning of
year

2

2,056,992

1,109,425

Cash and cash equivalents at end of year 2 287,972 2,056,992

Zoomo London Ltd (Registered number: 11309092)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2023

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31.12.23 31.12.22
as restated
£    £   
(Loss)/profit before taxation (3,211,886 ) 589,617
Depreciation charges 1,481,294 812,900
Loss/(profit) on disposal of fixed assets 1,782,773 (336,760 )
Finance costs 125,757 -
Finance income (1,128 ) (1,845 )
176,810 1,063,912
Decrease in stocks 1,146,297 390,586
Decrease in trade and other debtors 1,878,313 75,943
(Decrease)/increase in trade and other creditors (1,860,352 ) 1,575,973
Cash generated from operations 1,341,068 3,106,414

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 287,972 2,207,336
Bank overdrafts - (150,344 )
287,972 2,056,992
Year ended 31 December 2022
31.12.22 1.1.22
as restated
£    £   
Cash and cash equivalents 2,207,336 1,109,425
Bank overdrafts (150,344 ) -
2,056,992 1,109,425


Zoomo London Ltd (Registered number: 11309092)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2023

3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

Other
non-cash
At 1.1.23 Cash flow changes At 31.12.23
£    £    £    £   
Net cash
Cash at bank 2,207,336 (1,919,364 ) 287,972
Bank overdrafts (150,344 ) 150,344 -
2,056,992 (1,769,020 ) 287,972
Debt
Finance leases - 8,825 - (161,258 )
- 8,825 - (161,258 )
Total 2,056,992 (1,760,195 ) - 126,714

Zoomo London Ltd (Registered number: 11309092)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Zoomo London Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The parent company, Zoomo Holdings Pty Ltd will continue to provide any financial support which may be
necessary in order that the company can meet its liabilities, as they fall due, for a period of no less than one year and one day from the date the financial statements are signed. As a result of this commitment the directors have continued to adopt the going concern basis in preparing these financial statements.

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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Intangible assets
Other intangible assets are trademarks. They are amortised to profit and loss account over their estimated economic life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 3-5 years (with batteries at 3 years useful life and some LEVs 4-5years)

Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses. Stock is held on an average cost basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Zoomo London Ltd (Registered number: 11309092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS102.

3. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
as restated
£    £   
Wages and salaries 3,529,432 4,390,198
Social security costs 351,243 426,220
Other pension costs 68,339 72,984
3,949,014 4,889,402

The average number of employees during the year was as follows:
31.12.23 31.12.22
as restated

Central Europe 3 4
Commerical 15 20
Country Operations 31 43
Executive 3 4
Finance 9 13
Frontline Operations 3 4
People & Culture 11 15
Strategy and Marketing 5 9
Supply Chain & Procurement 11 14
91 126

Zoomo London Ltd (Registered number: 11309092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS - continued

31.12.23 31.12.22
as restated
£    £   
Directors' remuneration 198,558 74,447
Directors' pension contributions to money purchase schemes 4,573 881

4. OPERATING (LOSS)/PROFIT

The operating loss (2022 - operating profit) is stated after charging/(crediting):

31.12.23 31.12.22
as restated
£    £   
Other operating leases 517,782 867,678
Depreciation - owned assets 1,347,217 1,344,348
Loss/(profit) on disposal of fixed assets 1,782,773 (336,760 )
Patents and licences amortisation 3,962 1,166
Auditors' remuneration 9,750 8,750
Foreign exchange differences 17,173 207,294

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
as restated
£    £   
Bank loan interest 116,832 -
Hire purchase 8,925 -
125,757 -

6. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
31.12.23 31.12.22
as restated
£    £   
Deferred tax 47,584 608,620
Tax on (loss)/profit 47,584 608,620

7. PRIOR YEAR ADJUSTMENT

The accounts have been restated to incorporate the changes to the customer deposit policy, adjustments to both accruals and prepayments and the removal of research & development. The changes resulted in an additional loss of £181,292.

Zoomo London Ltd (Registered number: 11309092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 January 2023 41,548
Disposals (41,548 )
At 31 December 2023 -
AMORTISATION
At 1 January 2023 1,284
Amortisation for year 3,962
Eliminated on disposal (5,246 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 40,264

9. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 419,289 187,886 6,074,397 48,669 6,730,241
Additions - 83,781 1,628,891 16,439 1,729,111
Disposals - - (3,390,580 ) (5,168 ) (3,395,748 )
At 31 December 2023 419,289 271,667 4,312,708 59,940 5,063,604
DEPRECIATION
At 1 January 2023 161,560 43,365 1,106,062 18,876 1,329,863
Charge for year 188,058 77,364 1,059,483 22,312 1,347,217
Eliminated on disposal - - (1,065,368 ) (1,812 ) (1,067,180 )
At 31 December 2023 349,618 120,729 1,100,177 39,376 1,609,900
NET BOOK VALUE
At 31 December 2023 69,671 150,938 3,212,531 20,564 3,453,704
At 31 December 2022 257,729 144,521 4,968,335 29,793 5,400,378

10. STOCKS
31.12.23 31.12.22
as restated
£    £   
Stocks 1,051,427 2,197,724

Zoomo London Ltd (Registered number: 11309092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Trade debtors 600,766 921,300
Amounts owed by group undertakings 9,333,826 7,418,405
Other debtors 164,049 1,360,254
VAT 34,588 -
Prepayments 137,154 533,316
10,270,383 10,233,275

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Bank loans and overdrafts (see note 14) - 150,344
Hire purchase contracts (see note 15) 32,806 -
Trade creditors 542,912 1,419
Amounts owed to group undertakings 16,156,878 16,111,045
Social security and other taxes (607 ) 109,135
VAT - 760,062
Other creditors 389,946 1,056,726
Accruals and deferred income 106,931 972,192
17,228,866 19,160,923

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
as restated
£    £   
Hire purchase contracts (see note 15) 128,452 -

14. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
as restated
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 150,344

Zoomo London Ltd (Registered number: 11309092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
as restated
£    £   
Net obligations repayable:
Within one year 32,806 -
Between one and five years 128,452 -
161,258 -

Non-cancellable operating leases
31.12.23 31.12.22
as restated
£    £   
Within one year 361,680 382,492
Between one and five years 864,827 1,162,838
1,226,507 1,545,330

16. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
as restated
£    £   
Deferred tax 656,204 608,620

Deferred
tax
£   
Balance at 1 January 2023 608,620
Charge to Income Statement during year 47,584
Balance at 31 December 2023 656,204

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: as restated
£    £   
100 Ordinary 100 100 100

Zoomo London Ltd (Registered number: 11309092)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

18. RESERVES
Retained
earnings
£   

At 1 January 2023 128,042
Prior year adjustment 181,292
309,334
Deficit for the year (3,259,470 )
At 31 December 2023 (2,950,136 )

19. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party. The ultimate parent company is Zoomo Holdings Pty Ltd, a company
incorporated in Australia.

20. SECURITIES

Fixed and floating charges are held over the intellectual property and other assets of the Company.