Zartech Limited - Accounts to registrar (filleted) - small 18.2

Zartech Limited - Accounts to registrar (filleted) - small 18.2

ZARTECH LIMITED - Company Information

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REGISTERED NUMBER: 06139702 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

ZARTECH LIMITED
ZARTECH LIMITED (REGISTERED NUMBER: 06139702)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ZARTECH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2020







DIRECTOR: Dr S R Aliwell





SECRETARY: Mrs P Aliwell





REGISTERED OFFICE: 71 Kenwood Drive
Beckenham
Kent
BR3 6QZ





REGISTERED NUMBER: 06139702 (England and Wales)





ACCOUNTANTS: Acuity Professional Ltd
Fifth Floor
11 Leadenhall Street
London
EC3V 1LP
Page 1
ZARTECH LIMITED (REGISTERED NUMBER: 06139702)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,504 382

CURRENT ASSETS
Debtors 5 2,184 374
Cash at bank 34,728 13,075
36,912 13,449
CREDITORS
Amounts falling due within one year 6 16,584 5,462
NET CURRENT ASSETS 20,328 7,987
TOTAL ASSETS LESS CURRENT
LIABILITIES
22,832
8,369

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 22,732 8,269
SHAREHOLDERS' FUNDS 22,832 8,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 December 2020 and were signed by:




Dr S R Aliwell - Director


The notes form part of these financial statements

Page 2
ZARTECH LIMITED (REGISTERED NUMBER: 06139702)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020


1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in conformity with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

ACCOUNTING ESTIMATES AND JUDGEMENTS
In preparing the financial statements, management were not required to make any estimates or judgements which materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities.

DIVIDENDS
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

TURNOVER
Turnover represents net invoiced sales of services, excluding value added tax.

TANGIBLE FIXED ASSETS
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 33% on cost

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

DEBTORS
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

CASH AND CASH EQUIVALENTS
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

Page 3 continued...
ZARTECH LIMITED (REGISTERED NUMBER: 06139702)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020


2. ACCOUNTING POLICIES - continued

CREDITORS
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
Cost
At 1 April 2019 6,643
Additions 2,721
At 31 March 2020 9,364
Depreciation
At 1 April 2019 6,261
Charge for year 599
At 31 March 2020 6,860
Net book value
At 31 March 2020 2,504
At 31 March 2019 382

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 2,184 -
VAT - 374
2,184 374

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Bank loans and overdrafts 32 18
Corporation tax payable 4,538 3,190
Social security and other taxes 1,092 1,136
VAT 4,865 -
Other creditors 28 25
Pension Creditors 5,000 -
Directors' loan accounts 1,002 1,002
Accrued expenses 27 91
16,584 5,462

Page 4 continued...
ZARTECH LIMITED (REGISTERED NUMBER: 06139702)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020


7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 April 2019 8,269
Profit for the year 21,463
Dividends (7,000 )
At 31 March 2020 22,732

9. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,000 (2019: NIL).Contributions were outstanding at the balance sheet date was £5,000.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £7,000 (2019 - £20,700) were paid to the director .

At balance sheet date, there was an amount due to the director, Mr S R Aliwell for £1,002 (2019:£1,002).This is an interest free advance to the company and does not have a fixed date of repayment.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Dr S R Aliwell.

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