Zorbell Limited 08551918 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is that of property letting and management services. Digita Accounts Production Advanced 6.30.9574.0 false false false false 08551918 2023-11-01 2024-10-31 08551918 2024-10-31 08551918 bus:Director1 1 2024-10-31 08551918 bus:OrdinaryShareClass1 2024-10-31 08551918 core:CurrentFinancialInstruments 2024-10-31 08551918 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 08551918 core:LandBuildings 2024-10-31 08551918 core:OtherPropertyPlantEquipment 2024-10-31 08551918 bus:SmallEntities 2023-11-01 2024-10-31 08551918 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 08551918 bus:FilletedAccounts 2023-11-01 2024-10-31 08551918 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 08551918 bus:RegisteredOffice 2023-11-01 2024-10-31 08551918 bus:Director1 2023-11-01 2024-10-31 08551918 bus:Director1 1 2023-11-01 2024-10-31 08551918 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 08551918 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 08551918 bus:Agent1 2023-11-01 2024-10-31 08551918 core:Land 2023-11-01 2024-10-31 08551918 core:LandBuildings 2023-11-01 2024-10-31 08551918 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 08551918 core:PlantMachinery 2023-11-01 2024-10-31 08551918 core:AllSubsidiaries 2023-11-01 2024-10-31 08551918 core:Subsidiary1 2023-11-01 2024-10-31 08551918 core:Subsidiary1 1 2023-11-01 2024-10-31 08551918 core:Subsidiary2 2023-11-01 2024-10-31 08551918 core:Subsidiary2 1 2023-11-01 2024-10-31 08551918 core:Subsidiary3 2023-11-01 2024-10-31 08551918 core:Subsidiary3 1 2023-11-01 2024-10-31 08551918 countries:EnglandWales 2023-11-01 2024-10-31 08551918 2023-10-31 08551918 bus:Director1 1 2023-10-31 08551918 core:CostValuation 2023-10-31 08551918 core:LandBuildings 2023-10-31 08551918 core:OtherPropertyPlantEquipment 2023-10-31 08551918 2022-11-01 2023-10-31 08551918 2023-10-31 08551918 bus:OrdinaryShareClass1 2023-10-31 08551918 core:CurrentFinancialInstruments 2023-10-31 08551918 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 08551918 core:LandBuildings 2023-10-31 08551918 core:OtherPropertyPlantEquipment 2023-10-31 08551918 core:Subsidiary1 1 2022-11-01 2023-10-31 08551918 core:Subsidiary2 1 2022-11-01 2023-10-31 08551918 core:Subsidiary3 1 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08551918

Zorbell Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Zorbell Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Zorbell Limited

Company Information

Director

Mr J Pearcey

Registered office

4 Market Street
Crediton
Devon
EX17 2AJ

Accountants

Stapletons
Chartered Certified Accountants4 Market Street
Crediton
Devon
EX17 2AJ

 

Zorbell Limited

(Registration number: 08551918)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

326,092

295,107

Investments

5

300

300

 

326,392

295,407

Current assets

 

Debtors

6

1,755,205

1,772,560

Cash at bank and in hand

 

450,440

88,917

 

2,205,645

1,861,477

Creditors: Amounts falling due within one year

7

(9,688)

(25,032)

Net current assets

 

2,195,957

1,836,445

Total assets less current liabilities

 

2,522,349

2,131,852

Provisions for liabilities

(508)

(676)

Net assets

 

2,521,841

2,131,176

Capital and reserves

 

Called up share capital

8

150

150

Capital redemption reserve

150

150

Retained earnings

2,521,541

2,130,876

Shareholders' funds

 

2,521,841

2,131,176

For the financial year ending 31 October 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 prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 July 2025
 

.........................................
Mr J Pearcey
Director

 

Zorbell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 Market Street
Crediton
Devon
EX17 2AJ

These financial statements were authorised for issue by the director on 25 July 2025.

2

Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group 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 shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

 

Zorbell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% Straight line basis

Land

Not provided

Plant and machinery

25% Reducing balance basis

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Zorbell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

Zorbell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

311,821

36,000

347,821

Additions

34,897

-

34,897

At 31 October 2024

346,718

36,000

382,718

Depreciation

At 1 November 2023

19,416

33,298

52,714

Charge for the year

3,236

676

3,912

At 31 October 2024

22,652

33,974

56,626

Carrying amount

At 31 October 2024

324,066

2,026

326,092

At 31 October 2023

292,405

2,702

295,107

5

Investments

2024
£

2023
£

Investments in subsidiaries

300

300

Subsidiaries

£

Cost or valuation

At 1 November 2023

300

Provision

Carrying amount

At 31 October 2024

300

At 31 October 2023

300

 

Zorbell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

ROTA Wheels UK Ltd

4 Market Street,
Crediton.
EX17 2AJ

Ordinary shares

100%

100%

Nuts4Wheels Ltd

4 Market Street,
Crediton.
EX17 2AJ

Ordinary shares

100%

100%

JET Devon Ltd

4 Market Street,
Crediton.
EX17 2AJ

Ordinary shares

100%

100%

Subsidiary undertakings

ROTA Wheels UK Ltd

The principal activity of ROTA Wheels UK Ltd is the sale and distribution of alloy wheels. The profit for the financial period of ROTA Wheels UK Ltd was £107,137 and the aggregate amount of Capital and reserves at the end of the period was £140,323.

Nuts4Wheels Ltd

The principal activity of Nuts4Wheels Ltd is the sale and distribution of wheel nuts and accessories. The profit for the financial period of Nuts4Wheels Ltd was £115,819 and the aggregate amount of Capital and reserves at the end of the period was £163,848.

JET Devon Ltd

The principal activity of JET Devon Ltd is that of a dormant company.

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

9

1,725,417

1,676,417

Prepayments

 

2,248

2,349

Other debtors

 

27,540

93,794

   

1,755,205

1,772,560

 

Zorbell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,188

-

Taxation and social security

7,480

24,078

Accruals and deferred income

1,020

954

9,688

25,032

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

300

300

300

300

       

9

Related party transactions

Transactions with the director

2024

At 1 November 2023
£

Advances to director
£

Repayments by director
£

At 31 October 2024
£

Mr J Pearcey

Director's loan account

55,304

7,540

(55,304)

7,540

 

Zorbell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Summary of transactions with subsidiaries


ROTA Wheels UK Ltd

Included within 'Debtors' is a balance due from ROTA Wheels UK Ltd, a wholly owned subsidiary of Zorbell Ltd. During the year, storage and management services were supplied to this company at an arms length value amounting to £57,600 (2023 - £45,600) and interim dividends were received from this company in the sum of £150,000 (2023 - Nil). At the balance sheet date the amount due from ROTA Wheels UK Ltd was £1,061,500 (2023 - £897,500).

Nuts4Wheels Ltd

Included within 'Debtors' is a balance due from Nuts4Wheels Ltd, a wholly owned subsidiary of Zorbell Ltd. During the year, management services were supplied to this company at an arms length value amounting to £45,000 (2023 - £45,000) and interim dividends were received from this company in the sum of £250,000 (2023 - Nil). At the balance sheet date the amount due from Nuts4Wheels Ltd was £653,917 (2023 - £768,917).

JET Devon Ltd

Included within 'Debtors' is a balance due from JET Devon Ltd, a wholly owned subsidiary of Zorbell Ltd. At the balance sheet date the amount due from JET Devon Ltd was £10,000 (2023 - £10,000).