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Registered number: 03406782
Zero Seal Systems Limited
Financial Statements
For The Year Ended 31 December 2024
Deans
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 03406782
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,450 7,729
Tangible Assets 5 79,433 135,280
82,883 143,009
CURRENT ASSETS
Stocks 6 975,700 1,134,356
Debtors 7 712,016 674,946
Cash at bank and in hand 2,441,299 1,879,262
4,129,015 3,688,564
Creditors: Amounts Falling Due Within One Year 8 (731,462 ) (695,510 )
NET CURRENT ASSETS (LIABILITIES) 3,397,553 2,993,054
TOTAL ASSETS LESS CURRENT LIABILITIES 3,480,436 3,136,063
NET ASSETS 3,480,436 3,136,063
CAPITAL AND RESERVES
Called up share capital 9 100 100
Share premium account 59,900 59,900
Profit and Loss Account 3,420,436 3,076,063
SHAREHOLDERS' FUNDS 3,480,436 3,136,063
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs N A Hewitt
Director
13 May 2025
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Zero Seal Systems Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of 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 presented in sterling which is the functional currency of the company and rounded to the nearest £.
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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts.  The policies adopted for the recognition of turnover are as follows:
Sale of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.  This is usually on dispatch of the goods.
Interest
Interest income is recognised using the effective interest method.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website design costs. It is amortised to profit and loss account over its estimated economic life of three years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Leasehold 20% on cost
Plant & Machinery 25% on reducing balance
Motor Vehicles 33% on reducing balance
Fixtures & Fittings 30% on reducing balance
Computer Equipment 33% on cost
2.5. Leasing and Hire Purchase Contracts
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
2.6. Stocks and Work in Progress
Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula.  Provision is made for damaged, obsolete and slow-moving stock where appropriate.
2.7. Foreign Currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.
Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.
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Page 3
2.8. 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.
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.
2.9. Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
2.10. Debtors and creditors receivable / payable within one year
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.
2.11. Research and development
Expenditure on research and development is written off in the year in which it is incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2023: 29)
25 29
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 25,275
As at 31 December 2024 25,275
Amortisation
As at 1 January 2024 17,546
Provided during the period 4,279
As at 31 December 2024 21,825
Net Book Value
As at 31 December 2024 3,450
As at 1 January 2024 7,729
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Page 4
5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 January 2024 69,406 409,119 478,525
Additions - 25,440 25,440
Disposals - (110,264 ) (110,264 )
As at 31 December 2024 69,406 324,295 393,701
Depreciation
As at 1 January 2024 69,406 273,839 343,245
Provided during the period - 35,971 35,971
Disposals - (64,948 ) (64,948 )
As at 31 December 2024 69,406 244,862 314,268
Net Book Value
As at 31 December 2024 - 79,433 79,433
As at 1 January 2024 - 135,280 135,280
6. Stocks
2024 2023
£ £
Finished goods 975,700 1,134,356
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 696,090 651,633
Prepayments and accrued income 10,783 23,184
Corporation tax recoverable assets 5,060 -
Amounts owed by group undertakings 83 129
712,016 674,946
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 293,574 123,099
Corporation tax - 75,692
Other taxes and social security 24,096 52,533
VAT 165,975 165,911
Other creditors 169,484 217,361
Accruals and deferred income 17,474 16,893
Amounts owed to group undertakings 60,859 44,021
731,462 695,510
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Page 5
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
10. Other Commitments
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £67,200  (2023: £112,000).
11. Ultimate Controlling Party
The Company's immediate parent company is Allegion (UK) Limited which is a company registered in the UK.  Copies of the immediate parent undertaking financial statements may be obtained from Companies House, Crown Way, Cardiff CF14 3UZ.
The company's ultimate parent company and ultimate controlling party is Allegion plc, a company incorporated in Dublin, Ireland. This is the largest and smallest group to consolidate these financial statements. 
Copies of the consolidated financial statements may be obtained from The Corporate Secretary, Allegion plc, Block D, Iveagh Court, Harcourt Road, Dublin, Ireland.
12. Audit Information
The auditor's report on the accounts of Zero Seal Systems Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Jeremy G Hodgkiss (Senior Statutory Auditor) for and on behalf of Deans , Statutory Auditor.
Deans
Gibson House
Hurricane Court, Hurricane Close
Stafford
ST16 1GZ
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