Zencrown Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 05075888

Zencrown Limited

Filleted Unaudited Financial Statements

31 March 2019

Zencrown Limited

Balance Sheet

31 March 2019

	2019		2018
Note	£	£	£

Current assets

Debtors	6	46,582	69,454
Cash at bank and in hand		285,803	146,988
		---------	---------
		332,385	216,442

Creditors: amounts falling due within one year	7	( 236,023)		( 144,321)
		---------		---------
Net current assets			96,362	72,121
			--------	--------
Total assets less current liabilities			96,362	72,121
			--------	--------
Net assets			96,362	72,121
			--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	96,360	72,119
	--------	--------
Shareholders funds	96,362	72,121
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 20 December 2019 , and are signed on behalf of the board by:

Mr U Somaia

Director

Company registration number: 05075888

Zencrown Limited

Notes to the Financial Statements

Year ended 31 March 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 77 Grand Parade, Green Lanes, London, N4 1DX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no significant judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Revenue recognition

The turnover shown in the profit and loss account represents amounts receivable during the year for services provided.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no 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.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2018: 1 ).

5. Dividends

	2019	2018
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	–	130,000
	----	---------

6. Debtors

	2019	2018
	£	£
Prepayments and accrued income	8,792	567
Other debtors	37,790	68,887
	--------	--------
	46,582	69,454
	--------	--------

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Bank loans and overdrafts	1,413	–
Trade creditors	154,971	71,591
Accruals and deferred income	10,566	8,695
Corporation tax	11,207	10,366
Social security and other taxes	1,363	1,265
Other creditors	56,503	52,404
	---------	---------
	236,023	144,321
	---------	---------

8. Related party transactions

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

	Transaction value		Balance owed by/(owed to)
	2019	2018	2019	2018
	£	£	£	£
Cutiepie Limited	576	336	1,200	624
Moonreach Five LLP	(18,134)	5,817	–	18,134
Zonecrest London Limited	(3,701)	3,702	1	3,702
Apollo Property Services Limited	3,440	4,623	( 14,379)	( 17,819)
Kaudra Property Company Limited	–	(1,017)	( 127)	( 127)
Zonebell London Limited	(2,627)	8,946	36,589	39,216
Apollo & Co LLP	(29,836)	(20,082)	( 22,625)	7,211
Bank Flat Partnership	(1,220)	(865)	( 3,461)	( 2,241)
Bondbureau Partnership	(2,371)	–	( 2,371)	–
	--------	--------	--------	--------

The above transactions were with entities in which the directors have a material interest. During the year, the company paid dividends of £Nil (2018: £130,000) to the directors in respect of their shareholding in the company.