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REGISTERED NUMBER: 01678513 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

ZIONSTONE LIMITED

ZIONSTONE LIMITED (REGISTERED NUMBER: 01678513)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ZIONSTONE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr M P Atkins
Mrs L Atkins





SECRETARY: Mr M Baker





REGISTERED OFFICE: Unit 7
Horizon Business Village
1 Brooklands Road
Weybridge
Surrey
KT13 0TJ





REGISTERED NUMBER: 01678513 (England and Wales)





ACCOUNTANTS: Casson Beckman
Chartered Accountants
Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS

ZIONSTONE LIMITED (REGISTERED NUMBER: 01678513)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,802,432 506,128
Investments 5 1,607 1,607
Investment property 6 7,902,815 6,351,756
9,706,854 6,859,491

CURRENT ASSETS
Stocks 18,949,541 16,697,113
Debtors 7 17,748,535 15,438,289
Cash at bank 332,236 901,586
37,030,312 33,036,988
CREDITORS
Amounts falling due within one year 8 2,225,726 2,589,461
NET CURRENT ASSETS 34,804,586 30,447,527
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,511,440

37,307,018

CREDITORS
Amounts falling due after more than one
year

9

(25,709,148

)

(22,292,073

)

PROVISIONS FOR LIABILITIES (482,335 ) (354,400 )
NET ASSETS 18,319,957 14,660,545

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 18,319,857 14,660,445
SHAREHOLDERS' FUNDS 18,319,957 14,660,545

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.

ZIONSTONE LIMITED (REGISTERED NUMBER: 01678513)

BALANCE SHEET - continued
31 MARCH 2023


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 30 November 2023 and were signed on its behalf by:





Mrs L Atkins - Director


ZIONSTONE LIMITED (REGISTERED NUMBER: 01678513)

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


1. STATUTORY INFORMATION

Zionstone 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Zionstone Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents amounts receivable for the sale of stock properties net of VAT. Profit on the sale of developed properties is taken on receipt of sales proceeds at legal completion. Costs attributable to each sale comprise an appropriate proportion of the total costs of the development.

Rent receivable represents amounts due for property rental net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost and 4% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stock and work in progress
Stock represents property acquired for developments together with work in progress on those properties. These assets are included at the lower of cost and net realisable value. Cost for this purpose comprises the purchase cost of the land and buildings and the development expenditure.

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 balance sheet date.

ZIONSTONE LIMITED (REGISTERED NUMBER: 01678513)

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


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Fixed asset investments are stated at the lower of cost or fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2022 570,306 - 34,026 20,790 625,122
Additions - 1,249,728 7,813 - 1,257,541
Revaluations 41,246 - - - 41,246
At 31 March 2023 611,552 1,249,728 41,839 20,790 1,923,909
DEPRECIATION
At 1 April 2022 88,736 - 28,178 2,080 118,994
Charge for year 9,055 1,353 4,211 4,161 18,780
Revaluation adjustments (16,297 ) - - - (16,297 )
At 31 March 2023 81,494 1,353 32,389 6,241 121,477
NET BOOK VALUE
At 31 March 2023 530,058 1,248,375 9,450 14,549 1,802,432
At 31 March 2022 481,570 - 5,848 18,710 506,128

ZIONSTONE LIMITED (REGISTERED NUMBER: 01678513)

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


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2023 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2017 151,782 - - - 151,782
Valuation in 2018 (11,406 ) - - - (11,406 )
Valuation in 2019 (11,406 ) - - - (11,406 )
Valuation in 2020 (11,406 ) - - - (11,406 )
Valuation in 2021 (11,406 ) - - - (11,406 )
Valuation in 2022 (11,406 ) - - - (11,406 )
Valuation in 2023 34,004 - - - 34,004
Cost 482,796 1,249,728 41,839 20,790 1,795,153
611,552 1,249,728 41,839 20,790 1,923,909

If the properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 452,742 452,742
Aggregate depreciation 81,494 54,329

The property was valued on an open market basis on by the directors .

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 2 175,867 175,869
PROVISIONS
At 1 April 2022
and 31 March 2023 - 174,262 174,262
NET BOOK VALUE
At 31 March 2023 2 1,605 1,607
At 31 March 2022 2 1,605 1,607

ZIONSTONE LIMITED (REGISTERED NUMBER: 01678513)

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


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 6,351,756
Revaluations 1,551,059
At 31 March 2023 7,902,815
NET BOOK VALUE
At 31 March 2023 7,902,815
At 31 March 2022 6,351,756

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2016 2,216,258
Valuation in 2017 84,157
Valuation in 2018 463,255
Valuation in 2019 1,818
Valuation in 2020 (937,355 )
Valuation in 2023 1,551,059
Cost 4,523,623
7,902,815

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 16,274 33,882
Other debtors 161,461 93,262
177,735 127,144

Amounts falling due after more than one year:
Amounts owed by associates 17,570,800 15,311,145

Aggregate amounts 17,748,535 15,438,289

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 110,000 -
Payments on account 134,600 -
Trade creditors 52,646 37,347
Taxation and social security 15,210 393,120
Other creditors 1,913,270 2,158,994
2,225,726 2,589,461

ZIONSTONE LIMITED (REGISTERED NUMBER: 01678513)

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


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 19,074,516 13,074,516
Hire purchase contracts 440,000 -
Amounts owed to associates 6,194,632 9,217,557
25,709,148 22,292,073

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 19,074,516 13,074,516
Hire purchase contracts 550,000 -
19,624,516 13,074,516

Bank loans are secured by a fixed and floating charge over the assets of the company and M Atkins.

Hire purchase loans are secured over the asset to which they relate.

11. RELATED PARTY DISCLOSURES

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.