REGISTERED NUMBER: SC509259 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Zap Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S A J Sefton

REGISTERED OFFICE:

Pavilion 2

Finnieston Business Park

Minerva Way

Glasgow

G3 8AU

REGISTERED NUMBER:

SC509259 (Scotland)

ACCOUNTANTS:

Advantage Accounting (Scotland) Ltd

Pavilion 2

Finnieston Business Park

Minerva Way

Glasgow

G3 8AU

FIXED ASSETS

Intangible assets

4

68,833

-

Tangible assets

5

102,593

112,385

Investments

6

516,803

-

688,229

112,385

CURRENT ASSETS

Debtors

7

216,438

462,246

Cash at bank

389,820

297,734

606,258

759,980

CREDITORS

Amounts falling due within one year

8

707,545

486,933

NET CURRENT (LIABILITIES)/ASSETS

(101,287

)

273,047

TOTAL ASSETS LESS CURRENT LIABILITIES

586,942

385,432

CREDITORS

Amounts falling due after more than one year

9

(24,707

)

(33,427

)

PROVISIONS FOR LIABILITIES

(25,649

)

(21,353

)

NET ASSETS

536,586

330,652

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

536,585

330,651

536,586

330,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 3 September 2025 and were signed by:

S A J Sefton - Director

1.	STATUTORY INFORMATION

Zap Ltd is a private company, limited by shares , registered in Scotland. 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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 20% on reducing balance

Taxation

Taxation for the year comprises current and 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 taxation 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

75,000

At 31 December 2024

75,000

AMORTISATION

Charge for year

6,167

At 31 December 2024

6,167

NET BOOK VALUE

At 31 December 2024

68,833

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

160,044

Additions

35,060

Disposals

(35,707

)

At 31 December 2024

159,397

DEPRECIATION

At 1 January 2024

47,659

Charge for year

33,868

Eliminated on disposal

(24,723

)

At 31 December 2024

56,804

NET BOOK VALUE

At 31 December 2024

102,593

At 31 December 2023

112,385

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

Additions

406,855

Revaluations

109,948

At 31 December 2024

516,803

NET BOOK VALUE

At 31 December 2024

516,803

Cost or valuation at 31 December 2024 is represented by:

Other

investments

£

Valuation in 2024

516,803

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

198,522

85,853

Amounts owed by associates

-

321,642

Other debtors

17,916

54,751

216,438

462,246

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

-

3,257

Hire purchase contracts

8,720

8,720

Trade creditors

81,124

66,648

Taxation and social security

467,470

325,041

Other creditors

150,231

83,267

707,545

486,933

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

24,707

33,427