Zaro Equestrian Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07211827 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2020

FOR

ZARO EQUESTRIAN LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

L A Jones

REGISTERED OFFICE:

The Counting House

High Street

Lutterworth

Leicestershire

LE17 4AY

REGISTERED NUMBER:

07211827 (England and Wales)

ACCOUNTANTS:

PWH Accountancy Ltd

The Counting House

High Street

Lutterworth

Leicestershire

LE17 4AY

FIXED ASSETS

Tangible assets

5

3,551

3,551

CURRENT ASSETS

Debtors

6

20,870

-

CREDITORS

Amounts falling due within one year

7

337,382

315,762

NET CURRENT LIABILITIES

(316,512

)

(315,762

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(312,961

)

(312,211

)

CAPITAL AND RESERVES

Called up share capital

8

10,000

10,000

Retained earnings

9

(322,961

)

(322,211

)

SHAREHOLDERS' FUNDS

(312,961

)

(312,211

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 June 2021 and were signed by:

L A Jones - Director

1.	STATUTORY INFORMATION

Zaro Equestrian Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Tangible fixed assets

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

Freehold property

-

20% on cost

Financial instruments

Financial assets

Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities

The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

The financial statements are presented in GBP, being both the company's functional and presentation currency. Transactions denominated in foreign currencies are translated into GBP at the rates of exchange in operation on the dates of the transactions. Monetary assets and liabilities expressed in foreign currencies are translated into GBP at the rates of exchange prevailing at the date of the Statements of Financial Position. Translation differences are dealt with through the Statement of Comprehensive Income in the period in which they arise.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Leases and hire purchase contracts

Payments under operating leases are charged to the profit and loss account in the year in which they are incurred. Tangible fixed assets acquired under finance leases and hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets over their estimated useful economic lives or, if shorter the lease term. The related obligation, net of future charges, are included in creditors falling due within and after more than one year. The interest element of repayments of finance leases and hire purchase contracts is charged to the profit and loss account over the duration of the lease and represents a constant proportion of the capital balance outstanding, so as to produce a constant periodic rate of charge on the net obligations outstanding in each period.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 31 December 2019

and 30 December 2020

18,400

DEPRECIATION

At 31 December 2019

and 30 December 2020

14,849

NET BOOK VALUE

At 30 December 2020

3,551

At 30 December 2019

3,551

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed by group undertakings

20,870

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed to group undertakings

114,885

180,415

Directors' current accounts

220,247

133,847

Accrued expenses

2,250

1,500

337,382

315,762

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

10,000

Ordinary

£1

20,000

20,000

9.

RESERVES

Retained

earnings

£

At 31 December 2019

(322,211

)

Deficit for the year

(750

)

At 30 December 2020

(322,961

)

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 December 2020 and 30 December 2019:

2020

2019

£

£

L A Jones

Balance outstanding at start of year

(133,847

)

(160,448

)

Amounts advanced

-

26,601

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(133,847

)

(133,847

)

11.	RELATED PARTY DISCLOSURES

Creditas Capital Ltd - parent company

During the year Creditas Capital Ltd provided Zaro Equestrian Ltd with a loan. At the balance sheet date the amount due to Creditas Capital Ltd was £40,000 (2019 £40,000).

Neutrino Networks Ltd - fellow subsidiary (not wholly owned)

During the year Neutrino Networks Ltd provided Zaro Equestrian Ltd with a loan, At the balance sheet date the amount due to Neutrino Networks Ltd was £65,530 (2019 £65,530).

RFD Network Ltd - fellow subsidiary (not wholly owned)

During the year RFD Network Ltd provided the company with a loan, The balance due to RFD Network at the balance sheet date was £74,885 (2019 £74,885).

12.	PARENT COMPANY AND ULTIMATE PARENT UNDERTAKING

The ultimate controlling party is Lee Jones.