Zass Uk Ltd - Limited company accounts 11.7

REGISTERED NUMBER: 08062398 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2015

for

Zass Uk Ltd

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

Z S Syed

S Syed

REGISTERED OFFICE:

10 Roebuck Rise

Tilehurst

Reading

Berks

RG31 6TP

REGISTERED NUMBER:

08062398 (England and Wales)

ACCOUNTANTS:

Certax Accounting

Chartered Accountants

850 Oxford Road

Reading

RG30 1EL

The directors present their report with the financial statements of the company for the year ended 31 March 2015.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of international wholesalers.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2014 to the date of this

report.

Z S Syed

S Syed

Other changes in directors holding office are as follows:

A Z Syed - resigned 1 May 2014

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

S Syed - Director

27 July 2015

TURNOVER

1,157,781

776,405

Cost of sales

925,823

598,624

GROSS PROFIT

231,958

177,781

Distribution costs

-

17,041

Administrative expenses

126,346

66,717

126,346

83,758

OPERATING PROFIT

2

105,612

94,023

Interest payable and similar charges

14,019

-

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

91,593

94,023

Tax on profit on ordinary activities

3

19,048

18,662

PROFIT FOR THE FINANCIAL YEAR

72,545

75,361

FIXED ASSETS

Tangible assets

5

570

715

Investments

6

1,731

2,301

2,446

CURRENT ASSETS

Debtors

7

1,441,413

197,090

Cash in hand

24,496

47,114

1,465,909

244,204

CREDITORS

Amounts falling due within one year

8

1,347,507

205,886

NET CURRENT ASSETS

118,402

38,318

TOTAL ASSETS LESS CURRENT
LIABILITIES

120,703

40,764

CREDITORS

Amounts falling due after more than one
year

9

(33,527

)

-

ACCRUALS AND DEFERRED INCOME

10

(3,755

)

(800

)

NET ASSETS

83,421

39,964

CAPITAL AND RESERVES

Called up share capital

11

100

Profit and loss account

12

83,321

39,864

SHAREHOLDERS' FUNDS

83,421

39,964

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 27 July 2015 and were signed on its behalf by:

S Syed - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

2.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.15

31.3.14

£

Depreciation - owned assets

270

238

Foreign exchange differences

10,643

-

Directors' remuneration and other benefits etc

15,912

7,665

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

31.3.15

31.3.14

£

Current tax:

UK corporation tax

19,048

18,662

Tax on profit on ordinary activities

19,048

18,662

4.

DIVIDENDS

31.3.15

31.3.14

£

Ordinary shares of £1 each each

Interim

29,088

35,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2014

953

Additions

125

At 31 March 2015

1,078

DEPRECIATION

At 1 April 2014

238

Charge for year

270

At 31 March 2015

508

NET BOOK VALUE

At 31 March 2015

570

At 31 March 2014

715

6.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 April 2014

and 31 March 2015

1,731

NET BOOK VALUE

At 31 March 2015

1,731

At 31 March 2014

1,731

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.15

31.3.14

£

Trade debtors

2,045

1,659

Other debtors

1,439,368

195,431

1,441,413

197,090

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.15

31.3.14

£

Bank loans and overdrafts

97,427

-

Trade creditors

90,545

15

Taxation and social security

28,234

18,662

Other creditors

1,131,301

187,209

1,347,507

205,886

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.15

31.3.14

£

Bank loans

33,527

-

10.	ACCRUALS AND DEFERRED INCOME

31.3.15

31.3.14

£

Accruals and deferred income

3,755

800

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

100

Ordinary

£1 each

100

12.

RESERVES

Profit

and loss

account

£

At 1 April 2014

39,864

Profit for the year

72,545

Dividends

(29,088

)

At 31 March 2015

83,321