0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-05-20 Sage Accounts Production Advanced 2023 - FRS102_2023 134,764 134,764 134,764 xbrli:pure xbrli:shares iso4217:GBP 14120033 2022-05-20 2023-05-31 14120033 2023-05-31 14120033 2022-05-19 14120033 bus:Director1 2022-05-20 2023-05-31 14120033 core:LandBuildings core:OwnedOrFreeholdAssets 2022-05-20 2023-05-31 14120033 core:AfterOneYear 2023-05-31 14120033 core:WithinOneYear 2023-05-31 14120033 core:ShareCapital 2023-05-31 14120033 core:RetainedEarningsAccumulatedLosses 2023-05-31 14120033 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 14120033 bus:SmallEntities 2022-05-20 2023-05-31 14120033 bus:AuditExemptWithAccountantsReport 2022-05-20 2023-05-31 14120033 bus:SmallCompaniesRegimeForAccounts 2022-05-20 2023-05-31 14120033 bus:PrivateLimitedCompanyLtd 2022-05-20 2023-05-31 14120033 bus:FullAccounts 2022-05-20 2023-05-31
COMPANY REGISTRATION NUMBER: 14120033
ZSJ Property Limited
Filleted Unaudited Financial Statements
31 May 2023
ZSJ Property Limited
Statement of Financial Position
31 May 2023
31 May 23
Note
£
£
Fixed assets
Tangible assets
4
134,764
Current assets
Cash at bank and in hand
1,222
Creditors: amounts falling due within one year
5
52,050
--------
Net current liabilities
50,828
---------
Total assets less current liabilities
83,936
Creditors: amounts falling due after more than one year
6
98,183
--------
Net liabilities
( 14,247)
--------
Capital and reserves
Called up share capital
100
Profit and loss account
( 14,347)
--------
Shareholders deficit
( 14,247)
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 May 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ZSJ Property Limited
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 31 July 2023 , and are signed on behalf of the board by:
Mrs C King
Director
Company registration number: 14120033
ZSJ Property Limited
Notes to the Financial Statements
Period from 20 May 2022 to 31 May 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Investment property
£
Cost
At 20 May 2022
Additions
134,764
---------
At 31 May 2023
134,764
---------
Depreciation
At 20 May 2022 and 31 May 2023
---------
Carrying amount
At 31 May 2023
134,764
---------
The investment property was purchased in the year for market value and initially recognised at cost. It is the opinion of the directors that the fair value of the investment property at the balance sheet date is not materially different to that of the recorded cost value.
5. Creditors: amounts falling due within one year
31 May 23
£
Other creditors
52,050
--------
6. Creditors: amounts falling due after more than one year
31 May 23
£
Bank loans and overdrafts
98,183
--------
Included within creditors: amounts falling due after more than one year is an amount of £98,183 in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
This amount consists of an interest only mortgage. The loan commenced in December 2022 and is repayable over 25 years. Monthly interest repayments are £447 and interest is charged at a rate of 5.49%.
7. Directors' advances, credits and guarantees
At the balance sheet date the company owed £50,610 to the directors. The loan is interest free and repayable on demand.