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Registration number: 11565007

Zycor Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Zycor Limited

(Registration number: 11565007)

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

2,208

4,142

Current assets

 

Debtors

4

2,463

25

Cash at bank and in hand

 

48,838

263

 

51,301

288

Creditors: Amounts falling due within one year

5

(345,869)

(316,869)

Net current liabilities

 

(294,568)

(316,581)

Net liabilities

 

(292,360)

(312,439)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(292,460)

(312,539)

Shareholders' deficit

 

(292,360)

(312,439)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 4 March 2025
 

.........................................

C D Coe

Director

 

Zycor Limited

Notes to the Financial Statements for the Year Ended 30 September 2024

1

Accounting policies

Statutory information

Zycor Limited is a private company, limited by shares, domiciled in England and Wales, company number 11565007. The registered office is at 36 Burton Edge, Bakewell, DE45 1FQ.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Going concern

After due consideration of all relevant factors, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing the annual report and accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is recognised on despatch of goods and completion of services to customers. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Zycor Limited

Notes to the Financial Statements for the Year Ended 30 September 2024 (continued)

1

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

33% Straight Line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Zycor Limited

Notes to the Financial Statements for the Year Ended 30 September 2024 (continued)

3

Tangible assets

Fixtures, fittings and equipment
£

Cost or valuation

At 1 October 2023

15,570

At 30 September 2024

15,570

Depreciation

At 1 October 2023

11,428

Charge for the year

1,934

At 30 September 2024

13,362

Carrying amount

At 30 September 2024

2,208

At 30 September 2023

4,142

4

Debtors

2024
£

2023
£

Other debtors

2,463

25

5

Creditors

2024
£

2023
£

Due within one year

Trade creditors

35,072

35,072

Accruals and deferred income

32,725

2,725

Other creditors

278,072

279,072

345,869

316,869

6

Parent and ultimate parent undertaking

The company's immediate parent is Zycor Holdings Limited, a company incorporated in England and Wales.

The ultimate controlling party was C D Coe by virtue of his majority shareholding in Zycor Holdings Limited.