REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2016 |
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WORLD OF ZING LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2016 |
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FOR |
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WORLD OF ZING LTD |
WORLD OF ZING LTD (REGISTERED NUMBER: 08378536) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2016 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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WORLD OF ZING LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
Global House |
303 Ballards Lane |
London |
N12 8NP |
WORLD OF ZING LTD (REGISTERED NUMBER: 08378536) |
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STATEMENT OF FINANCIAL POSITION |
31 MARCH 2016 |
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31.3.16 | 31.3.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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( |
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The director acknowledges his 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 Income Statement has not been delivered. |
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The financial statements were approved by the director on
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WORLD OF ZING LTD (REGISTERED NUMBER: 08378536) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2016 |
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1. | STATUTORY INFORMATION |
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World of Zing Ltd 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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Turnover |
Turnover represents sales of services net of VAT and trade discounts. Turnover is recognised when |
the services are provided to the customer. |
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Tangible fixed assets |
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Computer equipment | - |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax |
losses and other deferred tax assets are recognised to the extent that it is probable that they will be |
recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is |
measured using the tax rates and laws that have been enacted or substantively enacted by the |
reporting date that are expected to apply to the reversal of the timing difference. |
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Research and development |
Expenditure on research and development is written off over the 5 years. Depreciation is charged at a |
rate of 20% per year. |
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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. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 April 2015 |
and 31 March 2016 |
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AMORTISATION |
Charge for year |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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WORLD OF ZING LTD (REGISTERED NUMBER: 08378536) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2016 |
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5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 April 2015 |
and 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.16 | 31.3.15 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.16 | 31.3.15 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Directors' current accounts | 3,690 | 18,663 |
Accrued expenses |
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8. | CONTINGENT LIABILITIES |
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The company has no contingent liabilities as at 31 March 2016 or 31 March 2015. |
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9. | CAPITAL COMMITMENTS |
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There are no capital commitments contracted in the year. |
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10. | RELATED PARTY DISCLOSURES |
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Included in creditors there is an amount of £3,690 owed by the company to the directors. |
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11. | POST BALANCE SHEET EVENTS |
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In October 2016 the company successfully raised £190,000 in additional share capital by way of crowd |
funding. |
WORLD OF ZING LTD (REGISTERED NUMBER: 08378536) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2016 |
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12. | ULTIMATE CONTROLLING PARTY |
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The directors control the company by virtue of their direct interest in the whole of the issued share |
capital. |
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13. | FIRST YEAR ADOPTION |
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These financial statements for the year ended 31st March 2016 are the first financial statements that |
comply with FRS 102. The date of transition is the 1 April 2014. The transition to FRS 102 has resulted |
in a small number of changes in accounting policies to those used previously. The nature of these |
changes and their impact on opening equity and profit for the comparative period are explained in the |
notes below. |
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