Zoller UK Limited - Period Ending 2019-09-30

Registration number: 08335264

Zoller UK Limited

Annual Report and Financial Statements

for the Year Ended 30 September 2019

Zoller UK Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 8

Zoller UK Limited

Company Information

Directors

Mr C A Fulton Mr M Fulton

Registered office

Faraday House Tomlinson Business Park Woodyard Lane Foston Derbyshire DE65 5DJ

Bankers

National Westminster plc 58 St. Peter's Street Derby DE1 1XL

Auditors

Ashgates Corporate Services Limited Registered Auditor 5 Prospect Place Millennium Way Pride Park Derby DE24 8HG

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Zoller UK Limited

(Registration number: 08335264)
Balance Sheet as at 30 September 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	4	182,027	163,805
Current assets
Stocks	5	62,093	81,088
Debtors	6	800,941	1,232,134
Cash at bank and in hand		50,372	253,339
		913,406	1,566,561
Creditors: Amounts falling due within one year	7	(517,298)	(847,462)
Net current assets		396,108	719,099
Total assets less current liabilities		578,135	882,904
Provisions for liabilities		(34,499)	(31,004)
Net assets		543,636	851,900
Capital and reserves
Called up share capital	8	2	2
Profit and loss account		543,634	851,898
Total equity		543,636	851,900

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 June 2020 and signed on its behalf by:
 

Mr M Fulton
Director

The notes on pages 3 to 8 form an integral part of these financial statements.

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Zoller UK Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of the registered office is given in the company information on page 1 of the financial statements.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and rounded to the nearest £1.

Going concern

The emergence of the global pandemic known as Covid-19 has raised significant uncertainty throughout the UK economy since the balance sheet date. The Directors have assessed a potential range of impacts that this pandemic may have on the Company.

Consideration has been given to the risks of reduced turnover, slow payment or non-payment of debts, the value of stock and other assets owned by the company. Detailed financial models have been prepared, which continue to be monitored and updated, and plans have been put in place to ensure there are sufficient reserves to continue into the future.

Having assessed all available information at the date of approving the accounts, the Directors are confident that the business is well placed to manage the situation and to continue trading as a going concern.

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Gavin Robert Booth, who signed for and on behalf of Ashgates Corporate Services Limited on 25 June 2020.

Revenue recognition

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Income is recognised based on the date goods are delivered and installed and the level of completion of services.

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Zoller UK Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	33.33% straight line
Demo machines	5% reducing balance
Motor vehicles	20% reducing balance
Fixtures and fittings	20% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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Zoller UK Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2018 - 12).

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Zoller UK Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

4	Tangible assets

	Fixtures and fittings  £	Motor vehicles  £	Office equipment  £	Demo machines  £	Total £
Cost or valuation
At 1 October 2018	7,895	19,572	14,920	158,059	200,446
Additions	-	-	2,852	95,305	98,157
Disposals	-	-	-	(69,165)	(69,165)
At 30 September 2019	7,895	19,572	17,772	184,199	229,438
Depreciation
At 1 October 2018	3,749	10,863	12,399	9,630	36,641
Charge for the year	829	1,742	2,749	7,666	12,986
Eliminated on disposal	-	-	-	(2,216)	(2,216)
At 30 September 2019	4,578	12,605	15,148	15,080	47,411
Carrying amount
At 30 September 2019	3,317	6,967	2,624	169,119	182,027
At 30 September 2018	4,146	8,709	2,521	148,429	163,805

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Zoller UK Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

5

Stocks

	2019 £	2018 £
Stock for resale	62,093	81,088

6

Debtors

	Note	2019 £	2018 £
Trade debtors		498,357	558,592
Amounts owed by group undertakings	10	290,780	655,556
Other debtors		11,804	17,986
		800,941	1,232,134

7

Creditors

	2019 £	2018 £
Due within one year
Trade creditors	181,125	400,102
Taxation and social security	94,485	254,957
Other creditors	241,688	192,403
	517,298	847,462

8	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

9	Financial commitments, guarantees and contingencies

The total amount of financial commitments, in relation to obligations under operating leases, not included in the balance sheet is £66,809 (2018 - £48,201).

The total amount of these commitments due within one year are £26,218 (2018 - £42,600) and amounts due over one year are £40,591 (2018 - £5,601).

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Zoller UK Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

10	Related party transactions

The company has taken advantage of the exemption in FRS 102 Section 1A from disclosing transactions with other members of the group.

11	Parent and ultimate parent undertaking

The company's immediate parent is Carfulan Group Limited, incorporated in England.
 

The address of Carfulan Group Limited is:
Faraday House, Tomlinson Business Park, Woodyard Lane, Foston, Derbyshire, DE65 5DJ.

The ultimate controlling party is M Fulton and C A Fulton, who own 100% of the share capital of Carfulan Group Limited.

The smallest and largest group in which the results of the company are consolidated is that headed by Carfulan Group Limited, a company incorporated in England. The consolidated accounts of the group may be obtained from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.

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