| REGISTERED NUMBER: |
| Zoom Growth Investment Ltd |
| Unaudited Financial Statements For The Year Ended 31 May 2024 |
| REGISTERED NUMBER: |
| Zoom Growth Investment Ltd |
| Unaudited Financial Statements For The Year Ended 31 May 2024 |
| Zoom Growth Investment Ltd (Registered number: 10192212) |
| Contents of the Financial Statements |
| For The Year Ended 31 May 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Zoom Growth Investment Ltd |
| Company Information |
| For The Year Ended 31 May 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Sidings Court |
| Lakeside |
| Doncaster |
| South Yorkshire |
| DN4 5NU |
| Zoom Growth Investment Ltd (Registered number: 10192212) |
| Balance Sheet |
| 31 May 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
| Zoom Growth Investment Ltd (Registered number: 10192212) |
| Notes to the Financial Statements |
| For The Year Ended 31 May 2024 |
| 1. | STATUTORY INFORMATION |
| Zoom Growth Investment Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| During the year, the company realised a loss of £9,154 (2023: £4,646) and has net current liabilities at the year end of £2,550,611 (2023: 2,541,457). The company meets its day to day working capital requirement using funds advanced to the company by its directors. At the year end, the company owed £2,322,741 (2023: £2,322,741) to the directors, who have confirmed that they will not recall the balance repayment until such times that the company has sufficient funds to do so. At the time of approving these financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period at least twelve months from the date these financial statements are approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. |
| Interest income |
| Interest income is recognised in profit or loss using effective interest method |
| Finance costs |
| Finance cost are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount, Issue cots are initially recognised as a reduction in the proceeds of the associated capital instrument |
| Cash and cash equivalents |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of no more than 24 hours. Cash equivalents are highly investments that mature in no more than three months from the date of acquisition and that are readily convertible to know amounts of cash with insignificant risk of change in value |
| Share capital |
| Ordinary shares are classified as equity, Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
| Zoom Growth Investment Ltd (Registered number: 10192212) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 May 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. |
| Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instruments. |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument instrument is any contract that evidences a residual interest in the assets of the comply after deducting all of its liabilities. |
| The company's policies for its major classes of financial assets and financial liabilities are set out below. |
| Financial assets |
| Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. |
| Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
| Financial liabilities |
| Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Impairment of financial assets |
| Financial assets measured at cost and amortised cost are assessed at the end of each reporting period of objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the assets carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. |
| For financial assets measured at amortised cost, the impairment loss is measured as the difference between the assets carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
| If there is a decrease in the impairment loss arising from the event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
| Derecognition of financial assets and financial liabilities |
| Financial assets are derecognised when: |
| (a) | The contractual rights to the cash flows from the asset expire or are settled, or |
| (b) | Substantially all the risks and rewards of the ownership of the assets are transferred to another party, or |
(c) | Despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
| Offsetting of financial assets and financial liabilities |
| Zoom Growth Investment Ltd (Registered number: 10192212) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 May 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial assets and liabilities are offset the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there us an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | FIXED ASSET INVESTMENTS |
| Unlisted |
| Investments |
| £ |
| COST |
| At 1 June 2023 |
| and 31 May 2024 |
| NET BOOK VALUE |
| At 31 May 2024 |
| At 31 May 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| Called up share capital not paid |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Other creditors |
| Accruals and deferred income |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |
| 8. | RELATED PARTY DISCLOSURES |
| During the year the company received £107,634 (2023: £100,000) from group companies and was charged £6,104 (2023: £1,530) in interest. At the balance sheet date the company owed the director £2,322,741 (2023: £2,322,741). |
| 9. | CONTROLLING PARTY |
| Zoom Growth Investment Ltd is a member of a small group for which no consolidated financial statements are prepared. |