Company Registration No. 11786825 (England and Wales)
Zipzero Global Limited
Unaudited accounts
for the year ended 31 January 2021
Zipzero Global Limited
Unaudited accounts
Contents
Zipzero Global Limited
Company Information
for the year ended 31 January 2021
Directors
Marcin Walaszczyk
Aymeric Adam Monod-Gayraud
Company Number
11786825 (England and Wales)
Registered Office
125 Kingsway
Aviation House
London
WC2B 6NH
United Kingdom
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Zipzero Global Limited
for the year ended 31 January 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Zipzero Global Limited for the year ended
31 January 2021 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
The Accountancy Cloud
Chartered Certified Accountants
12-18 Hoxton Street
London
N1 6NG
UK
19 February 2021
Zipzero Global Limited
Statement of financial position
as at
31 January 2021
Intangible assets
546,246
465,217
Tangible assets
924
1,202
Cash at bank and in hand
237
6,667
Creditors: amounts falling due within one year
(539,120)
(163,692)
Net current liabilities
(504,626)
(125,001)
Net assets
42,544
341,418
Called up share capital
1,570
1,424
Share premium
1,398,365
983,498
Profit and loss account
(1,357,391)
(643,504)
Shareholders' funds
42,544
341,418
For the year ending 31 January 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2021 and were signed on its behalf by
Marcin Walaszczyk
Director
Company Registration No. 11786825
Zipzero Global Limited
Notes to the Accounts
for the year ended 31 January 2021
Zipzero Global Limited is a private company, limited by shares, registered in England and Wales, registration number 11786825. The registered office is 125 Kingsway, Aviation House, London, WC2B 6NH, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.
Mobile application development costs are recognised as an intangible asset when all of the following criteria are demonstrated:
- The technical feasibility of completing the application so that it will be available for use or sale.
- The intention to complete the application and use or sell it.
- The ability to use the application or to sell it.
- How the application will generate probable future economic benefits.
- The availability of adequate technical, financial and other resources to complete the development and to use or sell the application.
- The ability to measure reliably the expenditure attributable to the application during its development.
Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The intangible assets are amortised over the following useful economic lives:
- Mobile Application Development costs - 10 years.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
During the financial year, Zipzero Global Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Income Statement in line with disclosure requirements under FRS102.
Zipzero Global Limited
Notes to the Accounts
for the year ended 31 January 2021
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
4
Intangible fixed assets
Other
At 1 February 2020
516,908
At 31 January 2021
655,696
At 1 February 2020
51,691
Charge for the year
57,759
At 31 January 2021
109,450
At 31 January 2021
546,246
At 31 January 2020
465,217
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2020
1,196
83
1,279
At 31 January 2021
1,196
83
1,279
At 1 February 2020
68
9
77
Charge for the year
257
21
278
At 31 January 2021
325
30
355
At 31 January 2021
871
53
924
At 31 January 2020
1,128
74
1,202
Accrued income and prepayments
-
7,345
Other debtors
15,903
24,679
Zipzero Global Limited
Notes to the Accounts
for the year ended 31 January 2021
7
Creditors: amounts falling due within one year
2021
2020
Trade creditors
405,937
80,893
Amounts owed to group undertakings and other participating interests
80,800
-
Taxes and social security
7,775
456
Other creditors
44,608
53,597
The total creditors due include related party liabilities:
Nitor Capital Limited Services Limited (£40,400)
Biospace Limited (£40,400)
8
Share capital
2021
2020
Allotted, called up and fully paid:
592,734 Class A Ordinary shares of £0.001 each
592.73
446.60
617,729 Class B Ordinary shares of £0.001 each
617.72
617.72
360,000 Class C Ordinary shares of £0.001 each
360.00
360.00
Shares issued during the period:
146,129 Class A Ordinary shares of £0.001 each
146
9
Transactions with related parties
During the year, Zipzero Global Limited had related party transactions with Nitor Capital Limited and Biospace Limited, of which Aymeric Monod-Gayraud and Marcin Walaszczyk are considered persons with significant control.
The total purchases during the year were £92,000 from Nitor Capital Limited and £105,667 from Biospace Limited with £80,800 included in trade payables as at 31 January 2021.
10
Average number of employees
During the year the average number of employees was 4 (2020: 1).