Company registration number 08764359 (England and Wales)
ZOOPAY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
ZOOPAY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ZOOPAY LIMITED
BALANCE SHEET
AS AT 31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
421
Current assets
Debtors
5
33,509
39,275
Cash at bank and in hand
8,911
2,989
42,420
42,264
Creditors: amounts falling due within one year
6
(1,289,415)
(1,253,677)
Net current liabilities
(1,246,995)
(1,211,413)
Net liabilities
(1,246,995)
(1,210,992)
Capital and reserves
Called up share capital
7
99
99
Profit and loss reserves
(1,247,094)
(1,211,091)
Total equity
(1,246,995)
(1,210,992)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 December 2022 and are signed on its behalf by:
R Griffith
Director
Company Registration No. 08764359
ZOOPAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -
1
Accounting policies
Company information
Zoopay Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Unit 35, 4th Floor Hobbs Court, 2 Jacobs Street, London, SE1 2BG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
As at the year end, the company's shareholders' funds were in deficit. The directors have reviewed the financial information for the following 12 months and they believe the company has adequate resources to continue to trade for the next 12 months.
true
1.3
Turnover
Turnover represents the value of the services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where VAT is applicable, Turnover is recognised net of VAT.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
1/3 straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
ZOOPAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 3 -
1.6
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.7
Foreign exchange
Transactions in currencies other than
pounds sterling
are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2021 - 2).
2022
2021
Number
Number
Total
2
2
ZOOPAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 4 -
4
Tangible fixed assets
Computer equipment
£
Cost
At 1 April 2021 and 31 March 2022
9,951
Depreciation and impairment
At 1 April 2021
9,530
Depreciation charged in the year
421
At 31 March 2022
9,951
Carrying amount
At 31 March 2022
At 31 March 2021
421
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
2,603
5,694
Other debtors
30,906
33,581
33,509
39,275
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
2,239
4,530
Taxation and social security
3,180
Other creditors
1,287,176
1,245,967
1,289,415
1,253,677
7
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
99,000 'A' Ordinary of £0.001 each
99
99
499 'B' Ordinary of £0.001 each
-
-
ZOOPAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 5 -
8
Related party transactions
Transactions with related parties
At the year end, the Company had received working capital loans totalling £1,
283
,
976
(202
1
: £1
,242
,
767
) from Currency Solutions Ltd (Company number: 04367993). No interest is charged on the loan, which is repayable on demand. The Company and Currency Solutions Ltd have common directors and ultimate shareholders.