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Financial Statements for the Year Ended 31 January 2020 |
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Zixtel Ltd |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 January 2020 |
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for |
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Zixtel Ltd |
Zixtel Ltd (Registered number: 03310108) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Zixtel Ltd |
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Company Information |
for the Year Ended 31 January 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants & Registered Auditors |
2nd Floor, Woodside House |
261 Low Lane |
Horsforth |
Leeds |
West Yorkshire |
LS18 5NY |
Zixtel Ltd (Registered number: 03310108) |
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Balance Sheet |
31 January 2020 |
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31.1.20 | 31.1.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 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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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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Zixtel Ltd (Registered number: 03310108) |
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Balance Sheet - continued |
31 January 2020 |
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31.1.20 | 31.1.19 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 11 |
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Retained earnings |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
and were signed on its behalf by: |
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Zixtel Ltd (Registered number: 03310108) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2020 |
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1. | STATUTORY INFORMATION |
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Zixtel Ltd is a
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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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Turnover |
Turnover comprises the value of sales (excluding VAT, similar taxes and trade discounts) of services |
provided in the normal course of business. Revenue is recognised when the services have been |
completed. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Website | - |
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Investment property |
Investment property is initially recognised at cost and now subsequently measured at fair value. |
Changes in fair value are recognised in profit or loss. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Financial instruments |
Basic financial instruments are recognised at amortised costs. Derivative financial instruments are |
initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of |
Income and Retained Earnings, 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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Zixtel Ltd (Registered number: 03310108) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
of the lease. |
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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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Zixtel Ltd (Registered number: 03310108) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings | Website | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 February 2019 |
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Additions |
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Disposals |
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At 31 January 2020 |
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DEPRECIATION |
At 1 February 2019 |
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Charge for year |
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Eliminated on disposal |
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At 31 January 2020 |
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NET BOOK VALUE |
At 31 January 2020 |
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At 31 January 2019 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 February 2019 |
and 31 January 2020 |
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NET BOOK VALUE |
At 31 January 2020 |
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At 31 January 2019 |
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Cost or valuation at 31 January 2020 is represented by: |
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Valuation in 2003 | 70,000 |
Valuation in 2004 | 80,000 |
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Cost | 50,000 |
200,000 |
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Zixtel Ltd (Registered number: 03310108) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.20 | 31.1.19 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.20 | 31.1.19 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
31.1.20 | 31.1.19 |
£ | £ |
Bank loans |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 161,033 | 167,356 |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.1.20 | 31.1.19 |
£ | £ |
Within one year |
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Between one and five years |
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Zixtel Ltd (Registered number: 03310108) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.1.20 | 31.1.19 |
£ | £ |
Bank loans |
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Barclays Bank Plc hold a fixed and floating charge over the undertaking and all property and assets |
present and future. This includes goodwill, book debts, uncalled capital, building fixtures and fixed |
plant and machinery. |
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Capital Home Loans Limited hold a legal mortgage charge over the properties 10 and 12 Millgate, |
Selby, North Yorkshire. |
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11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 February 2019 |
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Revaluation | 3,356 |
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At 31 January 2020 |
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12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 January 2020 and |
31 January 2019: |
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31.1.20 | 31.1.19 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Zixtel Ltd (Registered number: 03310108) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2020 |
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12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
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Interest on overdrawn loan balances is charged at the official rate. |