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Company Registration No. 13047765 (England and Wales)
Zii Properties Ltd Filleted accounts for the year ended 31 March 2023
Zii Properties Ltd Filleted accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Zii Properties Ltd Company Information for the year ended 31 March 2023
Directors
Ismail Amla Zahid Patel Dr Irfan Akbar Ravat
Company Number
13047765 (England and Wales)
Registered Office
Hawthorne House 17A Hawthorne Drive Leicester LE5 6DL
Accountants
YP Finance Hawthorne House 17A Hawthorne Drive Leicester Leicestershire LE5 6DL
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Zii Properties Ltd Statement of financial position as at 31 March 2023
2023
2022
Notes
£
£
Fixed assets
Investment property
4
2,368,950
2,368,950
Current assets
Cash at bank and in hand
8,565
106,939
Creditors: amounts falling due within one year
5
(40,860)
(152,314)
Net current liabilities
(32,295)
(45,375)
Total assets less current liabilities
2,336,655
2,323,575
Creditors: amounts falling due after more than one year
6
(2,285,021)
(2,285,021)
Net assets
51,634
38,554
Capital and reserves
Called up share capital
7
100
100
Profit and loss account
51,534
38,454
Shareholders' funds
51,634
38,554
For the year ending 31 March 2023 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 18 September 2023 and were signed on its behalf by
Zahid Patel Director Company Registration No. 13047765
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Zii Properties Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Zii Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 13047765. The registered office is Hawthorne House, 17A Hawthorne Drive, Leicester, LE5 6DL.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Investments
Investments in shares are included at fair value.
4
Investment property
2023
£
Fair value at 1 April 2022
2,368,950
At 31 March 2023
2,368,950
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Zii Properties Ltd Notes to the Accounts for the year ended 31 March 2023
5
Creditors: amounts falling due within one year
2023
2022
£
£
VAT
2,056
2,334
Taxes and social security
31,216
34,822
Other creditors
6,875
114,445
Accruals
713
713
40,860
152,314
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Amounts owed to group undertakings and other participating interests
2,285,021
2,285,021
7
Share capital
2023
2022
£
£
Allotted, called up and fully paid:
25 Ordinary shares A of £1 each
25
25
20 Ordinary shares B of £1 each
20
20
20 Ordinary shares C of £1 each
20
20
5 Ordinary shares D of £1 each
5
5
5 Ordinary shares E of £1 each
5
5
5 Ordinary shares F of £1 each
5
5
5 Ordinary shares G of £1 each
5
5
10 Ordinary shares H of £1 each
10
10
5 Ordinary shares I of £1 each
5
5
100
100
8
Transactions with related parties
As at 31 March 2023, the company had balances outstanding to the following companies, companies where the Directors have controlling interests: - IAR Properties Ltd (Dr Irfan Akbar Ravat) - £1,485,060 (2022 - £1,485,060) - IZ Praedium Ltd (Zahid Patel & Ismail Amla) - £799,961 (2022 - £799,961)
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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