Company Registration No. 07427531 (England and Wales)
ZF ACQUISITIONS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
ZF ACQUISITIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ZF ACQUISITIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Investments
2
608,015
608,015
Current assets
Debtors
641,694
688,446
Creditors: amounts falling due within one year
(95,841)
(95,847)
Net current assets
545,853
592,599
Total assets less current liabilities
1,153,868
1,200,614
Creditors: amounts falling due after more than one year
(788,391)
(833,387)
365,477
367,227
Capital and reserves
Called up share capital
3
213,528
213,528
Profit and loss account
151,949
153,699
Shareholders' funds
365,477
367,227
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 March 2017
Mr Bob Giddy
Director
Company Registration No. 07427531
ZF ACQUISITIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.3
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
2
Fixed assets
Investments
£
Cost
At 1 July 2015 & at 30 June 2016
608,015
At 30 June 2015
608,015
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
ClearSpeed Technology Limited
UK
Ordinary shares
100.00
ZF ACQUISITIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
2
Fixed assets
(Continued)
- 3 -
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2016
2016
Principal activity
£
£
ClearSpeed Technology Limited
The research, design and development and marketing of semiconductor processors (accelerators) and advance boards, servers and associated support and design services for multiple markets.
(528,086)
(79,399)
It is the directors best estimate that the sale of the internally generated intellectual property in ClearSpeed Technology Limited will far exceed the value of ZF Acquisitions Limited's investment in the company, and therefore the directors have not undertaken an impairment review of this asset.
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2,135,280 ordinary shares of 10p each
213,528
213,528