REGISTERED NUMBER: 07596404 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ZEN EUROPA ARTS LTD

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

DIRECTORS:

K Okamoto

I Prior

REGISTERED OFFICE:

The Riverside Building County Hall

Westminster Bridge Road

London

SE1 7PB

REGISTERED NUMBER:

07596404 (England and Wales)

AUDITORS:

Johnsons Chartered Accountants

Statutory Auditor

1-2 Craven Road

Ealing

London

W5 2UA

FIXED ASSETS

Tangible assets

4

15,090

19,409

CURRENT ASSETS

Debtors

5

90,839

23,419

Cash at bank and in hand

91,875

80,605

182,714

104,024

CREDITORS

Amounts falling due within one year

6

(126,454

)

(119,811

)

NET CURRENT ASSETS/(LIABILITIES)

56,260

(15,787

)

TOTAL ASSETS LESS CURRENT LIABILITIES

71,350

3,622

CAPITAL AND RESERVES

Called up share capital

7

200,100

200,100

Retained earnings

8

(128,750

)

(196,478

)

SHAREHOLDERS' FUNDS

71,350

3,622

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

K Okamoto - Director

1.	STATUTORY INFORMATION

Zen Europa Arts Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. As permitted by FRS102 paragraphs 1A.7, the company has taken advantage of the exemption from disclosing the Cashflow statement and related party which relate to presentation and disclosure requirements that are not required of small companies in company law. The financial statements have been prepared under the historical cost convention.

Functional and presentation currency

The company's functional and presentational currency is GBP.

Going concern

The primary source of revenue and consequently cashflows is from production of films for its parent, County Hall Arts. The company made profit after tax of £67,728 (2023:Loss of £109,434) for the year and has net current assets at year-end amounting to £56,260 (2023: net current liability of £15,787).

The directors have received written support letter from parent confirming that it will provide necessary financial support to the Company to settle financial obligations as they fall due for a period of at least 12 months from the date of approval of financial statements. Having assessed the principal risks and other matters in connection with the going concern of the company and its parent, the Directors consider it appropriate to continue to adopt going concern basis of accounting in preparing these financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Revenue represents total invoice value, excluding value added tax, trade discounts and all other taxes of sales made during the year.

Revenue from film production for parent company is recognised as and when cost is incurred.

Revenue from support services is recognised over the period of the contract.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment etc - 20% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Taxation

Tax for the year comprises deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred tax assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash at bank and in hand

Cash is represented by cash at bank and deposits with financial institutions repayable without any penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial Instruments

The company only enters into the basic instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and amounts owed to group undertakings.

Financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is identified, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and its recoverable amount, which is an estimate of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities

Basic financial liabilities, including trade and other payables are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a rate of interest.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transactions price and subsequently measured at amortised costs.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors:

Short term debtors are measured at transaction price, less any impairment

Creditors:

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Share Capital

Share capital represents the funds received from shareholders in exchange for shares issued by the company. It is recorded at the issue price of shares subscribed and paid. Any share issuance costs are deducted from equity. Changes in share capital, including new issuances or repurchases, are recorded in accordance with applicable accounting standards.

Retained earnings

Retained earnings consist of accumulated net profits or losses after dividends and appropriations. At the end of each financial year, net profit or loss is transferred to retained earnings. Dividends declared reduce retained earnings. Prior period adjustments, if applicable, are recorded in retained earnings as per relevant accounting policies.

Significant judgements and estimates

Management is required to make judgements estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Furniture

Office

& Fixtures

Equipment

Totals

£

£

£

Cost

At 1 January 2024

7,700

81,528

89,228

Additions

-

541

541

At 31 December 2024

7,700

82,069

89,769

Depreciation

At 1 January 2024

7,700

62,119

69,819

Charge for year

-

4,860

4,860

At 31 December 2024

7,700

66,979

74,679

Net book value

At 31 December 2024

-

15,090

15,090

At 31 December 2023

-

19,409

19,409

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

90,839

23,419

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

9,662

10,871

Taxation and social security

40,693

48,219

Other creditors

76,099

60,721

126,454

119,811

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

200,100

Ordinary shares

1

200,100

200,100

8.

RESERVES

Retained

earnings

£

At 1 January 2024

(196,478

)

Profit for the year

67,728

At 31 December 2024

(128,750

)

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

J Stuart Thomson MA CA FCT ATT MCSI FCCA FMAAT

for and on behalf of Johnsons Chartered Accountants

10.	COMMITMENT AND CONTINGENCIES

Based on the information available and management's assessment, the company does not have any contingent liabilities as of the end of the reporting period. Therefore, no provisions have been recognised in these financial statements.

The directors confirm that as of the end of the reporting period, the company has no capital commitments or other significant commitments that require disclosure under FRS102.

11.	SUBSEQUENT EVENTS

There are no material post balance sheet events that have an impact on the entity.

12.	CONTROLLING PARTY

The immediate parent company is County Hall Arts, a charitable company incorporated in UK. The address of its registered office is Riverside Building, County Hall, Westminster Bridge Road, London, SE1 7PB.