Company registration number 01565304 (England and Wales)
ZENITEL CENTRE OF EXCELLENCE UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
ZENITEL CENTRE OF EXCELLENCE UK LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
ZENITEL CENTRE OF EXCELLENCE UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
page 1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
194,314
204,934
Investment properties
5
150,000
595,000
344,314
799,934
Current assets
Stocks
281,423
288,993
Debtors
6
293,786
414,331
Cash at bank and in hand
555,456
434,658
1,130,665
1,137,982
Creditors: amounts falling due within one year
7
(1,360,034)
(686,850)
Net current (liabilities)/assets
(229,369)
451,132
Total assets less current liabilities
114,945
1,251,066
Provisions for liabilities
(48,578)
(47,696)
Net assets
66,367
1,203,370
Capital and reserves
Called up share capital
8
520,000
520,000
Profit and loss reserves
(453,633)
683,370
Total equity
66,367
1,203,370
ZENITEL CENTRE OF EXCELLENCE UK LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
page 2

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 6 May 2026 and are signed on its behalf by:
Mr S King
Director
Company Registration No. 01565304
ZENITEL CENTRE OF EXCELLENCE UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
page 3
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2024
520,000
927,437
1,447,437
Year ended 31 December 2024:
Profit and total comprehensive income
-
155,933
155,933
Gift to employee ownership trust
-
(400,000)
(400,000)
Balance at 31 December 2024
520,000
683,370
1,203,370
Year ended 31 December 2025:
Profit and total comprehensive income
-
162,997
162,997
Gift to employee ownership trust
-
(1,300,000)
(1,300,000)
Balance at 31 December 2025
520,000
(453,633)
66,367
ZENITEL CENTRE OF EXCELLENCE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
page 4
1
Accounting policies
Company information

Zenitel Centre Of Excellence UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mack House, Aviation Court, Gatwick Road, Crawley, West Sussex, RH10 9RJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
Straight line over the life of the lease
Fixtures, fittings & equipment
25% Reducing balance
Motor vehicles
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

ZENITEL CENTRE OF EXCELLENCE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
page 5
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 amortised cost using the effective interest method.

ZENITEL CENTRE OF EXCELLENCE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
page 6
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax is provided in full on taxable losses where there is the expectation that future taxable profits will arise for the utilisation of the resultant deferred tax asset. The deferred tax balance has not been discounted.

A provision has been recognised in respect of legal and professional costs and potential compensation arising from an employment‑related claim. The provision has been measured based on professional legal advice and represents management’s best estimate of the obligation at the reporting date.

The timing and amount of any future payments remain uncertain.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

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

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

ZENITEL CENTRE OF EXCELLENCE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
page 7
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 9 (2024 - 9).

2025
2024
Number
Number
Total
9
9
3
Directors' remuneration
2025
2024
£
£
Remuneration paid to directors
267,754
595,710

During the year, the following remuneration was paid to the directors:

Stephen King received salary of £261,004 (2024: £590,004) and benefits in kind of £3,898, comprising a company car and medical insurance.

David Cockburn received salary of £6,750 (2024: £5,706) and benefits in kind of £6,458, comprising a company car and medical insurance.

No pension contributions were made in respect of the directors during the year.

4
Tangible fixed assets
Land and buildings Leasehold
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2025
55,688
17,832
270,897
344,417
Additions
-
0
-
0
77,310
77,310
Disposals
-
0
-
0
(79,739)
(79,739)
At 31 December 2025
55,688
17,832
268,468
341,988
Depreciation and impairment
At 1 January 2025
28,186
16,106
95,191
139,483
Depreciation charged in the year
4,161
431
50,691
55,283
Eliminated in respect of disposals
-
0
-
0
(47,092)
(47,092)
At 31 December 2025
32,347
16,537
98,790
147,674
Carrying amount
At 31 December 2025
23,341
1,295
169,678
194,314
At 31 December 2024
27,502
1,726
175,706
204,934
ZENITEL CENTRE OF EXCELLENCE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
page 8
5
Investment property
2025
£
Fair value
At 1 January 2025
595,000
Disposals
(445,000)
At 31 December 2025
150,000

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
253,983
387,293
Other debtors
39,803
27,038
293,786
414,331
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
615,933
421,952
Taxation and social security
210,100
186,829
Other creditors
534,001
78,069
1,360,034
686,850
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
520,000
520,000
520,000
520,000

The company has an issued share capital of 520,000 ordinary shares of £1 each.

At the year end:

442,000 ordinary shares were held by Zenitel Trustees Limited, acting as corporate trustee of the Zenitel Employee Ownership Trust, for the benefit of the company’s employees; and

78,000 ordinary shares were held by Stephen King, a director of the company.

All shares rank pari passu for voting and dividend rights.

9
Operating lease commitments
As lessee
ZENITEL CENTRE OF EXCELLENCE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
9
Operating lease commitments
(Continued)
page 9

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
193,080
222,000
10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

During the year, the company gifted £1,300,000 (2024: £400,000) to the Zenitel Employee Ownership Trust, a trust established for the benefit of the company’s employees.

The trust is administered by Zenitel Trustees Limited, a corporate trustee. The funds were provided in order to facilitate the settlement of deferred consideration arising from the sale of shares by Stephen King to the trust in 2024.

The transaction was approved by the board and has been recognised directly in equity.

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