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Registration number: 04128439

Zavrazos Investment Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Zavrazos Investment Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Zavrazos Investment Limited

(Registration number: 04128439)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

1,700,000

1,700,000

Current assets

 

Debtors

6

99,592

88,606

Cash at bank and in hand

 

116,249

127,944

 

215,841

216,550

Creditors: Amounts falling due within one year

7

(10,684)

(18,204)

Net current assets

 

205,157

198,346

Total assets less current liabilities

 

1,905,157

1,898,346

Creditors: Amounts falling due after more than one year

7

(906,752)

(883,747)

Provisions for liabilities

(205,660)

(156,302)

Net assets

 

792,745

858,297

Capital and reserves

 

Called up share capital

8

100

100

Non-distributable reserve

939,250

988,608

Retained earnings

(146,605)

(130,411)

Shareholders' funds

 

792,745

858,297

 

Zavrazos Investment Limited

(Registration number: 04128439)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 April 2024
 

.........................................
Mr Harry Theoharous
Director

 

Zavrazos Investment Limited

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

1

General information

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

The address of its registered office is:
Woodgate Studios
2-8 Games Road
Cockfosters
Hertfordshire
EN4 9HN
England

These financial statements were authorised for issue by the director on 4 April 2024.

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.

The accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents rental income receivable.

Tax

The tax expense for the period comprises current and deferred 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.

 

Zavrazos Investment Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

Investment property

Certain of the company's properties are held for long-term investment.

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

Trade Debtors and Creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Zavrazos Investment Limited

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

4

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2022
£

UK corporation tax

6,992

14,056

Deferred taxation

49,358

-

Tax expense

56,350

14,056

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2023

1,700,000

1,700,000

At 31 December 2023

1,700,000

1,700,000

At 31 December 2022

1,700,000

1,700,000

The investment property was valued on 31 December 2023 by the directors on an open market basis and had a cost of £555,091 (2022 - £555,091).

6

Debtors

2023
£

2022
£

Trade debtors

23,362

13,464

Prepayments

5,688

5,946

Other debtors

70,542

69,196

99,592

88,606

 

Zavrazos Investment Limited

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

6,992

14,056

Accruals and deferred income

3,539

3,539

Other creditors

153

609

10,684

18,204

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

906,752

883,747

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Zavrazos Investment Limited

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

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

906,752

883,747

Bank Borrowings - Secured Liabilities

Bank loans have been secured on the company's properties and properties owned by the director personally .