ZAF AMBITIONS LIMITED


Director	JIVRAJ, Arif Abdul


Registered Address	Suite 201 Moda Business Centre
	Stirling Way
	Borehamwood
	WD6 2BW


Registered Number	05418681 (England and Wales)

Balance Sheet as at
28 February 2025

	Notes	28 Feb 2025		30 Apr 2024
		£	£	£	£
Fixed assets
Tangible assets	3		125,416		35,771
			125,416		35,771
Current assets
Stocks	4	3,351		6,730
Debtors	5	17,883		67,788
Cash at bank and on hand		99,658		656,418
		120,892		730,936
Creditors amounts falling due within one year	6	(220,491)		(228,046)
Net current assets (liabilities)			(99,599)		502,890
Total assets less current liabilities			25,817		538,661
Provisions for liabilities	7		(24,567)		(7,830)
Net assets			1,250		530,831
Capital and reserves
Called up share capital			1,250		1,250
Profit and loss account			-		529,581
Shareholders' funds			1,250		530,831

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 23 May 2025, and are signed on its behalf by:

JIVRAJ, Arif Abdul
Director
Registered Company No. 05418681

ZAF AMBITIONS LIMITED

Notes to the Financial Statements
for the period ended 28 February 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	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).

	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).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Operating leases
	Rentals payable under operating lease, including any lease incentive received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative time pattern in which economic benefits from the lease asset are consumed.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	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.

Deferred tax

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.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	15
Plant and machinery	10	-
Fixtures and fittings	25	-

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Financial instruments
	Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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. Basic financial assets: Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.

Financial instruments

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets:
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate of
interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 
Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary
course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are
recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	5		9

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 May 24	121,014	110,136	228,638	459,788
Additions	-	42,991	68,275	111,266
Disposals	(68,867)	(26,638)	-	(95,505)
At 28 February 25	52,147	126,489	296,913	475,549
Depreciation and impairment
At 01 May 24	118,699	78,142	227,176	424,017
Charge for year	174	3,617	3,639	7,430
On disposals	(66,726)	(14,588)	-	(81,314)
At 28 February 25	52,147	67,171	230,815	350,133
Net book value
At 28 February 25	-	59,318	66,098	125,416
At 30 April 24	2,315	31,994	1,462	35,771


	Land and building includes short leasehold and improvements to property.

4.	Stocks

	2025	2024
	£	£
Raw materials and consumables	3,351	6,730
Total	3,351	6,730

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	17,883	63,263
Prepayments and accrued income	-	4,525
Total	17,883	67,788

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	30,332	13,082
Bank borrowings and overdrafts	-	10,077
Taxation and social security	2,141	66,637
Other creditors	161,847	129,187
Accrued liabilities and deferred income	26,171	9,063
Total	220,491	228,046

7.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	24,567	7,830
Total	24,567	7,830

8.	Other commitments
	LEASING AGREEMENTS: Minimum lease payments under non-cancellable operating leases fall due as follows: Due within one year: £27,250 (2024: £52,250)

9.	Related party transactions
	Included in other debtors falling due within one year are due from Subxl Ltd £Nil (2024: £42,703); a company connected to the director. Included in other creditors falling due within one year is due to ZAF Holding Ltd Nil (2024: £45,000); a company connected to the director. Also, included in other creditors falling due within one year are the amount due to the director £Nil (2024: £63,966 ).

Related party transactions

Included in other debtors falling due within one year are due from Subxl Ltd £Nil (2024: £42,703); a company connected to the director.

Included in other creditors falling due within one year is due to ZAF Holding Ltd Nil (2024: £45,000); a company connected to the director.

Also, included in other creditors falling due within one year are the amount due to the director £Nil (2024: £63,966 ).

10.	Change in reporting period and impact on comparability
	Reporting period: The company has changed its year end. Hence, the financial statements presented are for the period of less than twelve months.