General Information
ZAMAN & CO. LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08302818, registration address 1, Claybury Broadway,, Ilford, UK, IG5 0LQ.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognized in the statement of income, except to the extent that it relates to items recognized in other comprehensive income or directly in capital and reserves. The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Motor Vehicles |
15% Reducing Balance
|
| Fixtures and Fittings |
15% Reducing Balance
|
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 6 (2024 : 5).
|
| 3. |
Intangible fixed assets
| Cost |
Other |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
3,675 |
|
3,675 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 March 2025 |
3,675 |
|
3,675 |
| Net book values |
| At 31 March 2025 |
3,675 |
|
3,675 |
| At 31 March 2024 |
3,675 |
|
3,675 |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Motor Vehicles |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 April 2024 |
54,136 |
|
92,461 |
|
146,597 |
| Additions |
90,345 |
|
- |
|
90,345 |
| Disposals |
(54,136) |
|
- |
|
(54,136) |
| At 31 March 2025 |
90,345 |
|
92,461 |
|
182,806 |
| Depreciation |
| At 01 April 2024 |
29,801 |
|
33,242 |
|
63,043 |
| Charge for year |
16,262 |
|
8,883 |
|
25,145 |
| On disposals |
(29,801) |
|
- |
|
(29,801) |
| At 31 March 2025 |
16,262 |
|
42,125 |
|
58,387 |
| Net book values |
| Closing balance as at 31 March 2025 |
74,083 |
|
50,336 |
|
124,419 |
| Opening balance as at 01 April 2024 |
24,335 |
|
59,219 |
|
83,554 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| PAYE & Social Security |
2,330 |
|
3,295 |
|
2,330 |
|
3,295 |
|
| 5. |
Debtors: amounts falling due after one year
|
2025
£ |
|
2024
£ |
| Prepayments |
8,417 |
|
5,100 |
|
8,417 |
|
5,100 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
49,835 |
|
10,068 |
| Corporation Tax |
5,134 |
|
6,127 |
| Other Creditors |
1 |
|
(2) |
| Wages & Salaries Control Account |
9,192 |
|
4,843 |
| Creditors against Client Account |
31,881 |
|
498,484 |
| Directors' Current Accounts |
23,675 |
|
9,226 |
| VAT |
6,374 |
|
9,844 |
|
126,092 |
|
538,590 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Obligations Under HP/Financial Leases |
8,886 |
|
12,023 |
|
8,886 |
|
12,023 |
|
2
|