ZELAH DESIGN LTD

2020-07-012021-06-302021-06-30false07660322ZELAH DESIGN 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ZELAH DESIGN LTD

Registered Number
07660322
(England and Wales)

Unaudited Financial Statements for the Year Ended
30 June 2021

ZELAH DESIGN LTD

Company Information
for the year from 1 July 2020 to 30 June 2021


Directors	COLLINS, James Marc
	TRIDGELL, Sarah Maya


Registered Address	Flat 6, 10 Atkins Square Dalston Lane
	London
	E8 1FQ


Place of Business	12 Woodlane
	Falmouth
	TR11 4RF


Registered Number	07660322 (England and Wales)

ZELAH DESIGN LTD

Balance Sheet as at
30 June 2021

	Notes	2021		2020
		£	£	£	£
Fixed assets
Tangible assets	5		5,061		445
			5,061		445
Current assets
Debtors		3,490		-
Cash at bank and on hand		35,381		24,922
		38,871		24,922
Creditors amounts falling due within one year		(10,162)		(5,720)
Net current assets (liabilities)			28,709		19,202
Total assets less current liabilities			33,770		19,647
Creditors amounts falling due after one year	7		-		(10,000)
Provisions for liabilities	8		(962)		(85)
Net assets			32,808		9,562
Capital and reserves
Called up share capital			50		50
Profit and loss account			32,758		9,512
Shareholders' funds			32,808		9,562

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 14 September 2021, and are signed on its behalf by:

COLLINS, James Marc
Director
Registered Company No. 07660322

ZELAH DESIGN LTD

Notes to the Financial Statements
for the year ended 30 June 2021

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

2.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	ACCOUNTING POLICIES

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

		Straight line (years)
	Fixtures and fittings	10
	Office Equipment	3

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Government grants and other government assistance policy
	The company received government grants of £220 (2020: £9) and £1,181 (2020: £1,474) under the Bounce Back Loan Scheme and the Coronavirus Job Retention Scheme respectively. All government grants have been disclosed as other operating income in the profit and loss account.

4.	EMPLOYEE INFORMATION

		2021		2020
	Average number of employees during the year	2		1

5.	PROPERTY, PLANT AND EQUIPMENT

		Total £
	Cost or valuation
	At 01 July 20	4,016
	Additions	6,263
	At 30 June 21	10,279
	Depreciation and impairment
	At 01 July 20	3,571
	Charge for year	1,647
	At 30 June 21	5,218
	Net book value
	At 30 June 21	5,061
	At 30 June 20	445

6.	ADVANCES AND CREDITS TO DIRECTORS, INCLUDING TERMS AND INTEREST RATES
	£472 (2020: £219) owed to James Collins, a company director, and £77 (2020: £nil) owed to Sarah Tridgell, a company director, are included within creditors: amounts falling due within one year on the balance sheet. Loans from director relate to amounts owed to James Collins and Sarah Tridgell in respect of company expenses.

	Brought forward £	Amount repaid £	Carried forward £
COLLINS, James Marc	219	(253)	472
TRIDGELL, Sarah Maya	0	(77)	77
	219	(330)	549

7.	CREDITORS AFTER ONE YEAR
	In 2020, the company took out a £10,000 bank loan under the Bounce Back Loan government scheme. Interest on the loan was charged at a fixed rate of 2.5% per annum and it was 100% government guaranteed. The government covered all interest payable in the first 12 months through a Business Interruption Payment to the lender. The loan was fully repaid in the year with no penalty for early repayment.

		2021 £		2020 £
	Bank borrowings and overdrafts	-		10,000
	Total	-		10,000

8.	PROVISIONS FOR LIABILITIES
	Provisions for liabilities is a deferred tax provision of £962 (2020: £85).

		2021 £		2020 £
	Net deferred tax liability (asset)	962		85
	Total	962		85