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Registration number: 11712497

Zenko Properties Ilkley Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Zenko Properties Ilkley Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Zenko Properties Ilkley Limited

Company Information

Directors

Mr Tobias Duczenko

Mr Ian Patrick Darley

Registered office

2 The Chandlers
The Calls
Leeds
LS2 7EZ

Accountants

Fullertons Limited
Chartered Certified Accountants
Manchester House
50 Oxford Road
Guiseley
Leeds
LS20 8AB

 

Zenko Properties Ilkley Limited

(Registration number: 11712497)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

117,176

124,499

Tangible assets

5

1,506

2,008

 

118,682

126,507

Current assets

 

Debtors

6

1,950

4,877

Cash at bank and in hand

 

6,267

18,510

 

8,217

23,387

Creditors: Amounts falling due within one year

7

(129,405)

(111,613)

Net current liabilities

 

(121,188)

(88,226)

Total assets less current liabilities

 

(2,506)

38,281

Creditors: Amounts falling due after more than one year

7

(26,700)

(26,700)

Net (liabilities)/assets

 

(29,206)

11,581

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(29,306)

11,481

Shareholders' (deficit)/funds

 

(29,206)

11,581

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 October 2023 and signed on its behalf by:
 

 

Zenko Properties Ilkley Limited

(Registration number: 11712497)
Balance Sheet as at 31 March 2023

.........................................
Mr Tobias Duczenko
Director

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
2 The Chandlers
The Calls
Leeds
LS2 7EZ

These financial statements were authorised for issue by the Board on 4 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax. Commission receivable on property sales is recognised on completion of the property sale.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Asset class

Depreciation method and rate

Plant and machinery

25% on net book value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed twenty years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

146,470

146,470

At 31 March 2023

146,470

146,470

Amortisation

At 1 April 2022

21,971

21,971

Amortisation charge

7,323

7,323

At 31 March 2023

29,294

29,294

Carrying amount

At 31 March 2023

117,176

117,176

At 31 March 2022

124,499

124,499

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

4,760

4,760

At 31 March 2023

4,760

4,760

Depreciation

At 1 April 2022

2,752

2,752

Charge for the year

502

502

At 31 March 2023

3,254

3,254

Carrying amount

At 31 March 2023

1,506

1,506

At 31 March 2022

2,008

2,008

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

1,950

4,877

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

755

3,483

Taxation and social security

6,637

5,453

Accruals and deferred income

1,800

1,750

Other creditors

120,213

100,927

129,405

111,613

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

26,700

26,700

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

26,700

26,700

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

10

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

At 31 March 2023
£

Mr Tobias Duczenko

Director's loan account

26,700

26,700

     
   

 

2022

At 1 April 2021
£

Advances to director
£

At 31 March 2022
£

Mr Tobias Duczenko

Director's loan account

70,000

(43,300)

26,700

       
     

 

Summary of transactions with all associates

The company owes £118,897 ( 2022 : £101,397 ) to Zenko Properties Limited an associated company. This amount is interest free and repayable on demand. Mr Tobias Duczenko company director is also a director and shareholder of Zenko Properties Limited.