Zapi Uk Limited - Accounts to registrar (filleted) - small 18.2
Zapi Uk Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| ZAPI UK LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| ZAPI UK LIMITED (REGISTERED NUMBER: 02376439) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ZAPI UK LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| (Statutory Auditor) |
| Sovereign House |
| 12 Warwick Street |
| Coventry |
| CV5 6ET |
| ZAPI UK LIMITED (REGISTERED NUMBER: 02376439) |
| BALANCE SHEET |
| 31 DECEMBER 2021 |
| 31.12.21 | 31.12.20 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve |
| Retained earnings |
| 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 Board of Directors and authorised for issue on |
| ZAPI UK LIMITED (REGISTERED NUMBER: 02376439) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| 1. | STATUTORY INFORMATION |
| Zapi Uk Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounding to the nearest £. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery of the goods). |
| Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| With the exception of land and buildings, tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses. |
| From 31st December 2021, the revaluation model has been adopted for Land and buildings. Land and buildings are carried at the fair value at the date of revaluation less and subsequent accumulated depreciation and impairment losses. |
| Revaluations shall be made with sufficient regularity to ensure that the carrying amount of land and buildings does not differ materially from the fair value at the reporting date. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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. |
| ZAPI UK LIMITED (REGISTERED NUMBER: 02376439) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Revaluations |
| At 31 December 2021 |
| DEPRECIATION |
| At 1 January 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| Revaluation adjustments | ( |
) | ( |
) |
| At 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| Included in cost or valuation of land and buildings is freehold land of £ 100,000 (2020 - £ 100,000 ) which is not depreciated. |
| Land and buildings with an original cost of £433,791 were revalued by an independent valuer in 2015 at a value of £540,000. Since the adoption of FRS102 (1A), that value had been used as deemed cost. On 31st December 2021, the company adopted a revaluation model and the Land and buildings were revalued to £800,000 by an independent valuer. |
| ZAPI UK LIMITED (REGISTERED NUMBER: 02376439) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2021 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.21 | 31.12.20 |
| as restated |
| £ | £ |
| Trade debtors |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.21 | 31.12.20 |
| as restated |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 8. | OTHER FINANCIAL COMMITMENTS |
| At the reporting date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases amounting to £5,002 (2020 £10,004). |
| 9. | ULTIMATE CONTROLLING PARTY |
| The parent company is Zapi S.p.A, Via Parma 59 - 42028 Poviglio RE, Italy. |
| The company is under the control of Mr Zanichelli by virtue of his shareholding in ZF S.p.A. |