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REGISTERED NUMBER: 02400982 (England and Wales)















Financial Statements for the Year Ended 31st August 2024

for

ZEM Software Services Limited

ZEM Software Services Limited (Registered number: 02400982)






Contents of the Financial Statements
for the Year Ended 31st August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ZEM Software Services Limited

Company Information
for the Year Ended 31st August 2024







DIRECTOR: Ms E Allen





SECRETARY: A Gorczycki





REGISTERED OFFICE: 11 Odeon Parade
480 London Road
Isleworth
Middlesex
TW7 4RL





REGISTERED NUMBER: 02400982 (England and Wales)





ACCOUNTANTS: Sampson Fielding Ltd
34 - 35 Clarges Street
Mayfair
London
W1J 7EJ

ZEM Software Services Limited (Registered number: 02400982)

Balance Sheet
31st August 2024

31/8/24 31/8/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 125,681 126,794

CURRENT ASSETS
Stocks 8,000 8,000
Debtors 5 4,276 6,182
Cash at bank 2,910 4,921
15,186 19,103
CREDITORS
Amounts falling due within one year 6 169,602 135,520
NET CURRENT LIABILITIES (154,416 ) (116,417 )
TOTAL ASSETS LESS CURRENT LIABILITIES (28,735 ) 10,377

CREDITORS
Amounts falling due after more than one year 7 5,500 11,500
NET LIABILITIES (34,235 ) (1,123 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (34,237 ) (1,125 )
SHAREHOLDERS' FUNDS (34,235 ) (1,123 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18th May 2025 and were signed by:





Ms E Allen - Director


ZEM Software Services Limited (Registered number: 02400982)

Notes to the Financial Statements
for the Year Ended 31st August 2024

1. STATUTORY INFORMATION

ZEM Software Services Limited 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in Pound Sterling which is the functional currency of the company and rounded to nearest pound.

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

Turnover and revenue recognition
Turnover is measured by the fair value of the consideration received or receivable, by the company in respect of supply of dance accessories during the year, exclusive of value added tax, rebates and trade discounts.

Revenue recognition:
Revenue is recognised when the risks and rewards of ownership have substantively transferred to customers, regardless of whether legal title has transferred. This condition is normally met when the goods have been delivered or upon performance of services. The company sells a range of goods to a diversified base of customers around the world and, therefore, believes there is no material concentration of credit risk.

Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold Property - 2% straight line
Fixtures and fittings - 25% reducing balance
Other fixed assets - 25% reducing balance

Stocks
Stocks 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

ZEM Software Services Limited (Registered number: 02400982)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Profit and loss account.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1st September 2023 204,818 - 12,474 217,292
Additions - 2,386 1,590 3,976
At 31st August 2024 204,818 2,386 14,064 221,268
DEPRECIATION
At 1st September 2023 78,024 - 12,474 90,498
Charge for year 4,096 596 397 5,089
At 31st August 2024 82,120 596 12,871 95,587
NET BOOK VALUE
At 31st August 2024 122,698 1,790 1,193 125,681
At 31st August 2023 126,794 - - 126,794

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Other debtors 4,276 6,182

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Bank loans and overdrafts (see note 8) 6,000 6,000
Trade creditors 77,041 46,958
Other creditors 86,561 82,562
169,602 135,520

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/8/24 31/8/23
£    £   
Bank loans (see note 8) 5,500 11,500

ZEM Software Services Limited (Registered number: 02400982)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2024

8. LOANS

An analysis of the maturity of loans is given below:

31/8/24 31/8/23
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,000 6,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,500 11,500

In July 2020 the company obtained a Bounce Back loan for £30,000. The loan is repayable over 5 years, starting in August 2021. Interest is at a rate of 2.5%.