Zephyrus Properties Ltd 14173139 false 2022-06-15 2023-06-30 2023-06-30 The principal activity of the company is Property management company Digita Accounts Production Advanced 6.30.9574.0 true true 14173139 2022-06-15 2023-06-30 14173139 2023-06-30 14173139 core:RetainedEarningsAccumulatedLosses 2023-06-30 14173139 core:RevaluationReserve 2023-06-30 14173139 core:ShareCapital 2023-06-30 14173139 core:CurrentFinancialInstruments 2023-06-30 14173139 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 14173139 core:Non-currentFinancialInstruments 2023-06-30 14173139 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 14173139 core:ConstructionInProgressAssetsUnderConstruction 2023-06-30 14173139 core:FurnitureFittingsToolsEquipment 2023-06-30 14173139 core:LandBuildings 2023-06-30 14173139 bus:SmallEntities 2022-06-15 2023-06-30 14173139 bus:AuditExemptWithAccountantsReport 2022-06-15 2023-06-30 14173139 bus:FullAccounts 2022-06-15 2023-06-30 14173139 bus:SmallCompaniesRegimeForAccounts 2022-06-15 2023-06-30 14173139 bus:RegisteredOffice 2022-06-15 2023-06-30 14173139 bus:Director1 2022-06-15 2023-06-30 14173139 bus:Director2 2022-06-15 2023-06-30 14173139 bus:PrivateLimitedCompanyLtd 2022-06-15 2023-06-30 14173139 core:RevaluationReserve core:LandBuildings 2022-06-15 2023-06-30 14173139 core:ConstructionInProgressAssetsUnderConstruction 2022-06-15 2023-06-30 14173139 core:FurnitureFittings 2022-06-15 2023-06-30 14173139 core:FurnitureFittingsToolsEquipment 2022-06-15 2023-06-30 14173139 core:LandBuildings 2022-06-15 2023-06-30 14173139 core:LeaseholdImprovements 2022-06-15 2023-06-30 14173139 countries:England 2022-06-15 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 14173139

Zephyrus Properties Ltd

Annual Report and Unaudited Financial Statements

for the Period from 15 June 2022 to 30 June 2023

 

Zephyrus Properties Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Zephyrus Properties Ltd

Company Information

Directors

Dr A Barker-Corrigall

Mr N Corrigall

Registered office

Oakmoore Court Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Zephyrus Properties Ltd

(Registration number: 14173139)
Balance Sheet as at 30 June 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

470,484

Current assets

 

Debtors

5

36

Cash at bank and in hand

 

2,123

 

2,159

Creditors: Amounts falling due within one year

6

(1,440)

Net current assets

 

719

Total assets less current liabilities

 

471,203

Creditors: Amounts falling due after more than one year

6

(470,249)

Net assets

 

954

Capital and reserves

 

Called up share capital

1,000

Revaluation reserve

21,137

Retained earnings

(21,183)

Shareholders' funds

 

954

For the financial period ending 30 June 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 period 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 2 March 2024 and signed on its behalf by:
 

.........................................
Dr A Barker-Corrigall
Director

.........................................
Mr N Corrigall
Director

 
 

Zephyrus Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 15 June 2022 to 30 June 2023

1

General information

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

The address of its registered office is:
Oakmoore Court Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH
Great Britain

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.

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:

Asset class

Depreciation method and rate

Fixtures and fittings

20% Reducing balance

Property Improvements

10% Reducing balance

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.

 

Zephyrus Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 15 June 2022 to 30 June 2023

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

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 period, was 2.

 

Zephyrus Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 15 June 2022 to 30 June 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Improvements to property
 £

Total
£

Cost or valuation

Revaluations

21,137

-

-

21,137

Additions

415,923

27,222

12,940

456,085

At 30 June 2023

437,060

27,222

12,940

477,222

Depreciation

Charge for the period

-

5,444

1,294

6,738

At 30 June 2023

-

5,444

1,294

6,738

Carrying amount

At 30 June 2023

437,060

21,778

11,646

470,484

Included within the net book value of land and buildings above is £437,060 in respect of freehold land and buildings.
 

5

Debtors

Current

2023
£

Other debtors

36

6

Creditors

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

8

470,249

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current period were as follows:

 

Zephyrus Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 15 June 2022 to 30 June 2023

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

21,137

21,137

8

Loans and borrowings

2023
£

Non-current loans and borrowings

Other borrowings

470,249

The loan is from ABC Bio Ltd, a company under common ownership. The loan is not under current market conditions and is repayable on demand. The balance at 30 June 2023 is £470,249.