Mechfeed Ltd

trading as Zenstores

(Registration number: 08556734)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	8,612	12,651
Current assets
Debtors	5	31,806	35,655
Cash at bank and in hand		239,351	207,853
		271,157	243,508
Creditors: Amounts falling due within one year	6	(140,354)	(147,633)
Net current assets		130,803	95,875
Net assets		139,415	108,526
Capital and reserves
Called up share capital	7	249	249
Share premium reserve		619,525	619,525
Other reserves		12,850	12,850
Profit and loss account		(493,209)	(524,098)
Total equity		139,415	108,526

Mechfeed Ltd

trading as Zenstores

(Registration number: 08556734)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 17 September 2025 and signed on its behalf by:
 

.........................................

T C J Palmer

Director

Mechfeed Ltd

trading as Zenstores

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

1	Statutory information

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

The address of its registered office is:
Studio 5
Utility House 3 York Court
Upper York Street
Bristol
BS2 8QF

2	Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in compliance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

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.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The company's financial statements have been prepared on a going concern basis based on current and forecast subscriptions and consider this adequate to meet the company's needs. The directors have considered a period of twelve months from the date of approval of the financial statements and consider the company able to meet liabilities as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Mechfeed Ltd

trading as Zenstores

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

Government grants

Government grants are recognised, using the accrual model, at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

Tax

The tax expense or credit for the period comprises current 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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible fixed assets

Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Office equipment	25% on cost
Furniture and fittings	25% on cost
Bicycles	40% on cost

Research and development costs

Expenditure on research and development is written off to profit and loss during the year in which it is incurred.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

Trade debtors

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

Mechfeed Ltd

trading as Zenstores

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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

Share based payments

The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured using the Black Scholes method and is based on company specific observable market data, taking into account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do meet the related service and non-market performance conditions at the vesting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 14).

Mechfeed Ltd

trading as Zenstores

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

4	Tangible fixed assets

	Office equipment  £	Fixtures and fittings  £	Bicycles  £	Total £
Cost
At 1 January 2024	36,699	6,331	-	43,030
Additions	541	161	1,346	2,048
At 31 December 2024	37,240	6,492	1,346	45,078
Depreciation
At 1 January 2024	26,068	4,311	-	30,379
Charge for the year	4,918	990	179	6,087
At 31 December 2024	30,986	5,301	179	36,466
Carrying amount
At 31 December 2024	6,254	1,191	1,167	8,612
At 31 December 2023	10,631	2,020	-	12,651

5	Debtors: amounts falling due within one year

	2024 £	2023 £
Trade debtors	3,999	3,999
Prepayments	6,996	6,481
Other debtors	20,811	25,175
	31,806	35,655

Mechfeed Ltd

trading as Zenstores

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

6

Creditors

	2024 £	2023 £
Trade creditors	5,823	24,825
Taxation and social security	34,374	33,814
Other creditors	8,790	6,759
Accruals and deferred income	91,367	82,235
	140,354	147,633

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £0.01 each	18,276	182.76	18,276	182.76
Ordinary A shares of £0.01 each	6,634	66.34	6,634	66.34
	24,910	249	24,910	249

8	Obligations under leases

Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Total	27,972	10,802

Mechfeed Ltd

trading as Zenstores

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

9	Share-based payments

EMI Share options

Scheme details and movements

Share options have been granted to certain employees under an EMI share options scheme.

The options may only be exercised in connection with an exit or listing. The options lapse on the tenth anniversary of the grant date, or on notice being given to or by an employee.

No options are exercisable at the year end (2023: nil) as all options are exercisable on exit.

The movements in the number of share options during the year were as follows:

	2024 Number	2023 Number
Outstanding, start of period	1,922	1,922
Granted during the period	261	-
Forfeited during the period	(389)	-
Outstanding, end of period	1,794	1,922

The movements in the weighted average exercise price of share options during the year were as follows:

	2024 £	2023 £
Outstanding, start of period	0.01	0.01
Granted during the period	0.01	-
Forfeited during the period	0.01	-
Outstanding, end of period	0.01	0.01

No expense has been recognised in the year under review for the existing share options on the grounds that the expense is immaterial.