Company Registration No. 08148440 (England and Wales)
Son Of Zeus Limited
Unaudited accounts
for the year ended 31 July 2022
Son Of Zeus Limited
Unaudited accounts
Contents
Son Of Zeus Limited
Statement of financial position
as at 31 July 2022
Cash at bank and in hand
6
929
Creditors: amounts falling due within one year
(63,494)
(65,152)
Net current liabilities
(63,488)
(54,441)
Net liabilities
(63,488)
(53,145)
Called up share capital
100
100
Profit and loss account
(63,588)
(53,245)
Shareholders' funds
(63,488)
(53,145)
For the year ending 31 July 2022 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2023 and were signed on its behalf by
V Unadkat
Director
Company Registration No. 08148440
Son Of Zeus Limited
Notes to the Accounts
for the year ended 31 July 2022
Son Of Zeus Limited is a private company, limited by shares, registered in England and Wales, registration number 08148440. The registered office is 2 King Street, Leicester, LE1 6RH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.3% on cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Son Of Zeus Limited
Notes to the Accounts
for the year ended 31 July 2022
At the time of approving the accounts, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors adopt the going concern basis of accounting in preparing the accounts.
4
Tangible fixed assets
Computer equipment
5
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
-
7,000
Other creditors
62,844
55,070
Allotted, called up and fully paid:
24 Ordinary A shares of £1 each
24
24
24 Ordinary B shares of £1 each
24
24
26 Ordinary C shares of £1 each
26
26
26 Ordinary D Shares of £1 each
26
26
7
Average number of employees
During the year the average number of employees was 2 (2021: 2).
