ZINK-IT (Norwich) Limited - Period Ending 2014-10-31

Registration number: 03198717

ZINK-IT (Norwich) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2014
 

Colin Richardson Accountants Limited
Waterloo House
17 Waterloo Road
Norwich
Norfolk
NR3 1EH

ZINK-IT (Norwich) Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
ZINK-IT (Norwich) Limited
for the Year Ended 31 October 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ZINK-IT (Norwich) Limited for the year ended 31 October 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of ZINK-IT (Norwich) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of ZINK-IT (Norwich) Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ZINK-IT (Norwich) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ZINK-IT (Norwich) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of ZINK-IT (Norwich) Limited. You consider that ZINK-IT (Norwich) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of ZINK-IT (Norwich) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Colin Richardson Accountants Limited
Waterloo House
17 Waterloo Road
Norwich
Norfolk
NR3 1EH

20 March 2015

Page 1

ZINK-IT (Norwich) Limited
(Registration number: 03198717)
Abbreviated Balance Sheet at 31 October 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					13,161			15,986
Current assets
Stocks					25,500			25,500
Debtors					48,725			56,091
Cash at bank and in hand					-			12,386
					74,225			93,977
Creditors: Amounts falling due within one year					(74,668)			(78,587)
Net current (liabilities)/assets					(443)			15,390
Net assets					12,718			31,376
Capital and reserves
Called up share capital		3			90			90
Profit and loss account					12,628			31,286
Shareholders' funds					12,718			31,376

For the year ending 31 October 2014 the company was entitled to exemption 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 20 March 2015

.........................................
Mr Carl Morris Bream
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

ZINK-IT (Norwich) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Assets are depreciated using the reducing balance method

Asset class	Depreciation method and rate
Leasehold Improvements	20% Reducing Balance
Fixtures & Fittings	20% Reducing Balance
Plant & Machinery	20% Reducing Balance
Motor Vehicles	25% Reducing Balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

ZINK-IT (Norwich) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2013		25,534			25,534
Additions		1,061			1,061
At 31 October 2014		26,595			26,595
Depreciation
At 1 November 2013		9,548			9,548
Charge for the year		3,886			3,886
At 31 October 2014		13,434			13,434
Net book value
At 31 October 2014		13,161			13,161
At 31 October 2013		15,986			15,986

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Shares of £1 each		90			90			90			90

Page 4

ZINK-IT (Norwich) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

4

Control

The company is controlled by the director who owns 100% of the called up share capital.

Page 5