Company Registration No. SC581494 (Scotland)
Zortrex Ltd
Unaudited accounts
for the year ended 30 November 2024
Zortrex Ltd
Unaudited accounts
Contents
Zortrex Ltd
Company Information
for the year ended 30 November 2024
Directors
Susan Brown
Stephen Ian Gordon
Company Number
SC581494 (Scotland)
Registered Office
UNIT 17
MID ROAD INDUSTRIAL ESTATE, MID ROAD, PR
PRESTONPANS
EAST LOTHIAN
EH32 9ER
SCOTLAND
Zortrex Ltd
Statement of financial position
as at 30 November 2024
Tangible assets
16,357
16,357
Cash at bank and in hand
1,743
1,743
Creditors: amounts falling due within one year
(396,473)
(396,473)
Net current liabilities
(280,760)
(280,760)
Total assets less current liabilities
(264,403)
(264,403)
Creditors: amounts falling due after more than one year
(2,534,045)
(2,534,045)
Net liabilities
(2,798,448)
(2,798,448)
Profit and loss account
(2,798,448)
(2,798,448)
Shareholders' funds
(2,798,448)
(2,798,448)
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2025 and were signed on its behalf by
Susan Brown
Director
Company Registration No. SC581494
Zortrex Ltd
Notes to the Accounts
for the year ended 30 November 2024
Zortrex Ltd is a private company, limited by shares, registered in Scotland, registration number SC581494. The registered office is UNIT 17, MID ROAD INDUSTRIAL ESTATE, MID ROAD, PR, PRESTONPANS, EAST LOTHIAN, EH32 9ER, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Expenditure on research and development is written off in the year in which it is incurred.
R&D spend for this year totals £932,250 (2019:£713,000) and this is the figure used for claiming R&D Tax Credits for the year. The expected tax credit figure is recorded as a debtor in the accounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% straight line depreciation
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 December 2023
19,000
2,955
21,955
At 30 November 2024
19,000
2,955
21,955
At 1 December 2023
3,800
1,798
5,598
At 30 November 2024
3,800
1,798
5,598
At 30 November 2024
15,200
1,157
16,357
At 30 November 2023
15,200
1,157
16,357
Zortrex Ltd
Notes to the Accounts
for the year ended 30 November 2024
Amounts falling due within one year
Accrued income and prepayments
43,915
43,915
Other debtors
70,055
70,055
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Creditors: amounts falling due within one year
2024
2023
Other creditors
396,473
396,473
Amounts totalling £nil (2020: £25,000) relate to development and set up costs incurred by directors. The amounts are interest-free with no set repayment terms.
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
2,534,045
2,534,045
The balance of £2,532,750 (2020;£2,532,750) reflects eligible R&D work done to date that forms the basis of relevant R&D Tax Credit applications.
8
Transactions with related parties
Stephen Gordon, a company director, was paid £nil (2020: £10,500) for financial and consulting services provided during the year.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).