| Zii Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Domain names |
|
|
Cost |
|
At 1 January 2024 |
131,687 |
|
At 31 December 2024 |
131,687 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 January 2024 |
131,687 |
|
At 31 December 2024 |
131,687 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Domain names are being written off in equal annual instalments over its estimated economic life of 5 years. |
|
|
| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 January 2024 |
933,117 |
|
Revaluation |
(449,984) |
|
|
At 31 December 2024 |
483,133 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 January 2024 |
933,117 |
|
At 31 December 2024 |
933,117 |
|
|
|
|
|
|
|
|
|
|
Investments in subsidiaries are carried at fair value in accordance with the company’s accounting policy. Fair value has been determined using the fair value less costs to sell approach, based on the underlying net assets of the subsidiary.
The original cost of the investment was £933,117. The carrying amount at the reporting date reflects the directors’ assessment of fair value less costs to sell. Revaluation movements are recognised in other comprehensive income and accumulated in the revaluation reserve, except where a decrease below cost is deemed to represent an impairment, in which case the charge is recognised in the profit and loss account. |
|
|
| 5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Other creditors |
10,802 |
|
10,800 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Zii Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Orchard Dene Heath Road |
|
Boughton Monchelsea |
|
Maidstone |
|
Kent |
|
ME17 4JN |