ZERUM_RENEW_LIMITED - Accounts
ZERUM_RENEW_LIMITED - Accounts
Company Registration No. 07502276 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
- 1 -
2016
2015
Notes
£
£
£
£
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(709,227 )
(711,418 )
Total assets less current liabilities
(565,189 )
(590,454 )
Capital and reserves
Called up share capital
2
Profit and loss account
(565,190 )
(590,455 )
Shareholders' funds
(565,189 )
(590,454 )
Director's responsibilities:
-
-
Approved by the Board for issue on 26 July 2017
Director
Company Registration No. 07502276
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
At the balance sheet date the company had net liabilities of £565,189 and was dependent on the support of the parent company which itself is dependent on the support of its investors. The director - who is also a director of the parent company - knows no reason why this support should not continue and therefore the accounts have been prepared on a going concern basis.
1.2
Turnover
1.3
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.
1.4
Deferred taxation
Deferred tax is recognised in respect of all timing differences which have originated but not reversed at the balance sheet date. Timing differences are differences between taxable profits and the results as stated in the financial statements which arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted.
Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws which have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non - discounted basis.
A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted.
Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws which have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non - discounted basis.
2
Share capital
2016
2015
£
£
Allotted, called up and fully paid
3
Ultimate parent company
The ultimate parent company is Zerum Limited, a company registered in England and Wales. This company is controlled by G A Neville by way of his majority shareholding.