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REGISTERED NUMBER: 10662089 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ZINC G K LIMITED

ZINC G K LIMITED (REGISTERED NUMBER: 10662089)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ZINC G K LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr P M Domb
Mr S J A Domb





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 10662089 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

ZINC G K LIMITED (REGISTERED NUMBER: 10662089)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,325 1,709
Investment property 5 706,628 425,000
749,953 426,709

CURRENT ASSETS
Debtors 6 11,361 2,181
Cash at bank 21,943 107,946
33,304 110,127
CREDITORS
Amounts falling due within one year 7 659,981 421,295
NET CURRENT LIABILITIES (626,677 ) (311,168 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

123,276

115,541

PROVISIONS FOR LIABILITIES 9,200 9,200
NET ASSETS 114,076 106,341

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserves 39,085 39,085
Retained earnings 74,891 67,156
114,076 106,341

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2023 and were signed on its behalf by:





Mr P M Domb - Director


ZINC G K LIMITED (REGISTERED NUMBER: 10662089)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Zinc G K Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net rent receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% straight line method
Motor vehicles - 25% on reducing balance.

Investment property
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would no give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

ZINC G K LIMITED (REGISTERED NUMBER: 10662089)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 9,414 - 9,414
Additions 3,016 53,823 56,839
At 31 March 2023 12,430 53,823 66,253
DEPRECIATION
At 1 April 2022 7,705 - 7,705
Charge for year 1,767 13,456 15,223
At 31 March 2023 9,472 13,456 22,928
NET BOOK VALUE
At 31 March 2023 2,958 40,367 43,325
At 31 March 2022 1,709 - 1,709

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 425,000
Additions 281,628
At 31 March 2023 706,628
NET BOOK VALUE
At 31 March 2023 706,628
At 31 March 2022 425,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 38,285
Cost 668,343
706,628

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 386,715 386,715

Investment property was valued on a fair value basis on 31 March 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 11,361 2,181

ZINC G K LIMITED (REGISTERED NUMBER: 10662089)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 751 3,794
Amounts owed to group undertakings 384,083 384,083
Amounts owed to participating interests 259,321 1,157
Taxation and social security - 7,279
Other creditors 15,826 24,982
659,981 421,295

8. RELATED PARTY DISCLOSURES

Included in creditors, amounts falling due within one year, is an interest free amount of £4,726 (2022: £11,082), owed to the director Mr P Domb.