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Registered number: 14183959














ZIRCONIA CATHURES 2 LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

 
ZIRCONIA CATHURES 2 LIMITED
 

CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 5


 
ZIRCONIA CATHURES 2 LIMITED
REGISTERED NUMBER:14183959

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
Note
£

Fixed assets
  

Investments
 4 
222,300

Current assets
  

Debtors: amounts falling due within one year
 5 
1

Current liabilties
  

Creditors: amounts falling due within one year
 6 
(99,198)

Net current (liabilities)/assets
  
 
 
(99,197)

Total assets less current liabilities
  
123,103

Creditors: amounts falling due after more than one year
 7 
(136,500)

Net (liabilities)/assets
  
(13,397)


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
(13,398)

  
(13,397)


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 September 2023.




Malcolm Ian Goddard
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
ZIRCONIA CATHURES 2 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

The Company is a private Company listed by shares incorporated in the United Kingdom under the Companies Act and is registered in England and Wales, registration number 14183959. The address of the Company’s registered office is 3 St. James’s Square, London, SW1Y 4JU.
The principal activity of the Company is indirect investment in UK property by way of holding units in a property unit trust.
These financial statements are presented in Pound sterling, which is the currency of the primary economic environment in which the Company operates.
The Company was incorporated and started trading on 20 June 2022.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company has net current liabilities. The directors have obtained assurance from the shareholder that funds will be made available to the Company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have been prepared under going concern on this basis.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 2

 
ZIRCONIA CATHURES 2 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

Basic financial instruments

Basic financial instruments include trade and other debtors, trade and other creditors, cash and cash
equivalents, and related party loans.
Trade and other debtors are recognised initially at the transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors.
Interest bearing borrowings classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


Additions
222,300



At 31 December 2022
222,300





5.


Debtors

2022
£


Amounts owed by group undertakings
1

1


Page 3

 
ZIRCONIA CATHURES 2 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

6.


Creditors: Amounts falling due within one year

2022
£

Bank loans
4,659

Amounts owed to group undertakings
84,489

Accruals and deferred income
10,050

99,198


The following liabilities were secured:

2022
£



Bank loans
141,159

141,159

Details of security provided:

As at 14 October 2022, a fixed and floating charge is in place with Hamburg Commercial Bank Ag over all property and assets.
As at 14 October 2022, a Composite Cross Gurantee is in place for Zirconia Cathures 1 Limited, Zirconia Cathures 2 Limited and Tarian Trustee Limited in its capacity as trustee of Zirconia Cathures Unit Trust.


7.


Creditors: Amounts falling due after more than one year

2022
£

Bank loans
136,500

136,500


The following liabilities were secured:

2022
£



Bank loans
136,500

136,500
Details of security provided:

As at 14 October 2022, a fixed and floating charge is in place with Hamburg Commercial Bank Ag over all property and assets.
As at 14 October 2022, a Composite Cross Gurantee is in place for Zirconia Cathures 1 Limited, Zirconia Cathures 2 Limited and Tarian Trustee Limited in its capacity as trustee of Zirconia Cathures Unit Trust.
Page 4

 
ZIRCONIA CATHURES 2 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022


8.


Loans


Analysis of the maturity of loans is given below:


2022
£

Amounts falling due within one year

Bank loans
4,659

Amounts falling due 1-5 years

Bank loans
136,500

141,159



9.


Related party transactions

The Company has taken advantage of the exemption under Financial Reporting Standard 102 Section 33 ‘Related Party Disclosures’ paragraph 33.1A not to disclose transactions with other companies in the group who were wholly owned during the period.
Key management personnel:
The directors are the key management personnel and received no remuneration during the period.


10.


Controlling party

At the date of signing, the immediate parent undertaking is Zirconia Holding Limited, a company registered in England and Wales.
At the date of signing, the ultimate parent undertaking and controlling party is Zirconia Limited Partnership, registered in England and Wales. Copies of its financial statements are available at 3 St James’s Square, London, SW1Y 4JU.


11.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2022 was unqualified.

The audit report was signed on 27 September 2023 by Sean Brennan FCCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 5