Zalex Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05801289 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Zalex Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A F Laurence

SECRETARY:

Finexys Limited

REGISTERED OFFICE:

Avaland House

110 London Road

Hemel Hempstead

Hertfordshire

HP3 9SD

REGISTERED NUMBER:

05801289 (England and Wales)

ACCOUNTANTS:

David Lindon & Co

Chartered Accountants

Avaland House

110 London Road

Hemel Hempstead

Hertfordshire

HP3 9SD

FIXED ASSETS

Tangible assets

4

1,858

32

CURRENT ASSETS

Stocks

5

46,435

40,373

Cash at bank

629,798

722,310

676,233

762,683

CREDITORS

Amounts falling due within one year

6

105,044

140,693

NET CURRENT ASSETS

571,189

621,990

TOTAL ASSETS LESS CURRENT LIABILITIES

573,047

622,022

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

573,046

622,021

SHAREHOLDERS' FUNDS

573,047

622,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 12 December 2017 and were signed by:

Mr A F Laurence - Director

1.	STATUTORY INFORMATION

Zalex Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Computer equipment

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2016

3,699

Additions

2,124

At 31 March 2017

5,823

DEPRECIATION

At 1 April 2016

3,667

Charge for year

298

At 31 March 2017

3,965

NET BOOK VALUE

At 31 March 2017

1,858

At 31 March 2016

32

5.

STOCKS

2017

2016

£

£

Work-in-progress

46,435

40,373

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

354

-

Corporation tax payable

67,904

85,386

Social security and other taxes

407

320

VAT

19,518

38,400

Directors' current accounts

8,291

8,748

Accruals and deferred income

8,570

7,839

105,044

140,693

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr A F Laurence.

8.	FIRST YEAR ADOPTION

The company has adopted FRS 102 for the first time in the year ended 31 March 2017.

The effect of the transition from the previous financial reporting framework to FRS 102 has been

considered.

There has been no material impact in relation to the following:

- changes in accounting policies

- changes in shareholder funds

- comparative year profit and loss