Zenko Rental Properties Limited 9143362 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is letting and operating of own or leased property Digita Accounts Production Advanced 6.30.9574.0 true 9143362 2022-04-01 2023-03-31 9143362 2023-03-31 9143362 bus:Director1 1 2023-03-31 9143362 bus:OrdinaryShareClass1 2023-03-31 9143362 core:RetainedEarningsAccumulatedLosses 2023-03-31 9143362 core:ShareCapital 2023-03-31 9143362 core:CurrentFinancialInstruments 2023-03-31 9143362 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 9143362 core:Non-currentFinancialInstruments 2023-03-31 9143362 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 9143362 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-03-31 9143362 bus:SmallEntities 2022-04-01 2023-03-31 9143362 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 9143362 bus:FullAccounts 2022-04-01 2023-03-31 9143362 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 9143362 bus:RegisteredOffice 2022-04-01 2023-03-31 9143362 bus:Director1 2022-04-01 2023-03-31 9143362 bus:Director1 1 2022-04-01 2023-03-31 9143362 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 9143362 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 9143362 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-04-01 2023-03-31 9143362 countries:England 2022-04-01 2023-03-31 9143362 2022-03-31 9143362 bus:Director1 1 2022-03-31 9143362 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-03-31 9143362 2021-04-01 2022-03-31 9143362 2022-03-31 9143362 bus:Director1 1 2022-03-31 9143362 bus:OrdinaryShareClass1 2022-03-31 9143362 core:RetainedEarningsAccumulatedLosses 2022-03-31 9143362 core:ShareCapital 2022-03-31 9143362 core:CurrentFinancialInstruments 2022-03-31 9143362 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 9143362 core:Non-currentFinancialInstruments 2022-03-31 9143362 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 9143362 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-03-31 9143362 bus:Director1 1 2021-04-01 2022-03-31 9143362 2021-03-31 9143362 bus:Director1 1 2021-03-31 9143362 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 9143362

Zenko Rental Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Zenko Rental Properties Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Zenko Rental Properties Limited

(Registration number: 9143362)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

328,722

172,007

Current assets

 

Debtors

5

320

319

Cash at bank and in hand

 

8,535

8,606

 

8,855

8,925

Creditors: Amounts falling due within one year

6

(72,204)

(72,146)

Net current liabilities

 

(63,349)

(63,221)

Total assets less current liabilities

 

265,373

108,786

Creditors: Amounts falling due after more than one year

6

(247,345)

(95,150)

Net assets

 

18,028

13,636

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

18,026

13,634

Shareholders' funds

 

18,028

13,636

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 November 2023 and signed on its behalf by:
 

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

 

Zenko Rental Properties 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 3 November 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.

Revenue recognition

Turnover comprises rents receivable in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at it's fair value as at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

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.

Borrowings

 

Zenko Rental Properties 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 2 (2022 - 2).

4

Investment properties

2023
£

At 1 April

172,007

Additions

156,715

At 31 March

328,722

There has been no valuation of investment property by an independent valuer.

5

Debtors

2023
£

2022
£

Other debtors

2

2

Prepayments

318

317

320

319

 

Zenko Rental Properties Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

1,030

1,092

Accruals and deferred income

750

630

Other creditors

70,424

70,424

72,204

72,146

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

247,345

95,150

Creditors include bank loans and overdrafts which are secured of £180,945 (2022 - £66,750).

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

180,945

66,750

Other borrowings

66,400

28,400

247,345

95,150

 

Zenko Rental Properties Limited

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

9

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

At 31 March 2023
£

Mr Tobias Duczenko

Directors loan account

70,424

70,424

     
   

 

2022

At 1 April 2021
£

Advances to director
£

At 31 March 2022
£

Mr Tobias Duczenko

Directors loan account

92,674

(22,250)

70,424

       
     

 

Summary of transactions with entities with joint control or significant interest

Loans from related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

28,400

28,400

Advanced

38,000

38,000

At end of period

66,400

66,400

2022

Entities with joint control or significant influence
£

Total
£

At start of period

28,400

28,400

At end of period

28,400

28,400

Terms of loans from related parties

Loans are interest free with no fixed date for repayment