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Financial Statements for the Year Ended 31 July 2017 |
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Zentech International Limited |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 July 2017 |
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for |
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Zentech International Limited |
Zentech International Limited (Registered number: 01475210) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 6 |
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Zentech International Limited |
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Company Information |
for the Year Ended 31 July 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Chiltern Chambers |
St Peters Avenue |
Caversham |
Reading |
Berkshire |
RG4 7DH |
Zentech International Limited (Registered number: 01475210) |
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Balance Sheet |
31 July 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 8 | ( |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
Zentech International Limited (Registered number: 01475210) |
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Balance Sheet - continued |
31 July 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Zentech International Limited (Registered number: 01475210) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2017 |
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1. | STATUTORY INFORMATION |
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Zentech International Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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First time adoption of financial reporting standard 102 |
These financial statements are the first financial statements of Zentech International Limited, prepared in |
accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and |
Republic of Ireland" (FRS 102) as applied to smaller entities by the adoption of Section 1A of FRS 102. The |
financial statements of Zentech International Limited for the year ended 31st July 2016, were prepared in |
accordance with previous UK GAAP. The date of transition to FRS 102 was 1st August 2016. |
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Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and accounting policy |
choices differ from previous UK GAAP. Consequently the director has amended certain accounting policies to |
comply with FRS 102. No adjustments needed to be made to prior year comparatives or retained earnings as a |
result of the adoption of FRS 102. |
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The director believes that preparing the financial statements on the going concern basis is appropriate due to the |
continued financial support of the shareholders. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant & machinery 10% straight line |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Zentech International Limited (Registered number: 01475210) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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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. |
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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. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
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COST |
At 1 August 2016 |
and 31 July 2017 |
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DEPRECIATION |
At 1 August 2016 |
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Charge for year |
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At 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 August 2016 |
and 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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Zentech International Limited (Registered number: 01475210) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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5. | FIXED ASSET INVESTMENTS - continued |
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The company holds 49% of the share capital of the following company: |
Company Country of registration Shares held % |
Zentech Technologies Ltd UK Ordinary 49 |
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The company is Dormant. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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Other creditors |
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Directors loan account | 2,000 | 14,406 |
Accrued expenses |
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8. | RESERVES |
Retained |
earnings |
£ |
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At 1 August 2016 | ( |
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Deficit for the year | ( |
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At 31 July 2017 | ( |
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9. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling parties are the directors. |