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Registered number: 08714032
Zaid Property Development Limited
Financial Statements
For The Year Ended 31 October 2023
Fairman Harris
1 Landor Road
London
SW9 9RX
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08714032
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 411 548
411 548
CURRENT ASSETS
Stocks 5 600,000 600,000
Debtors 6 8,339 11,730
Cash at bank and in hand 7 613
608,346 612,343
Creditors: Amounts Falling Due Within One Year 7 (1,224 ) (463 )
NET CURRENT ASSETS (LIABILITIES) 607,122 611,880
TOTAL ASSETS LESS CURRENT LIABILITIES 607,533 612,428
Creditors: Amounts Falling Due After More Than One Year 8 (814,403 ) (827,638 )
NET LIABILITIES (206,870 ) (215,210 )
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account (206,880 ) (215,220 )
SHAREHOLDERS' FUNDS (206,870) (215,210)
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr I W Soquar
Director
30 July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Zaid Property Development Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08714032 . The registered office is Fairman Harris, 1 Landor Road, London, SW9 9RX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 November 2022 1,299
As at 31 October 2023 1,299
Depreciation
As at 1 November 2022 751
Provided during the period 137
As at 31 October 2023 888
Net Book Value
As at 31 October 2023 411
As at 1 November 2022 548
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5. Stocks
2023 2022
£ £
Stock - Property 600,000 600,000
6. Debtors
2023 2022
£ £
Due within one year
73 Friern Road Management Company Limited 8,339 5,815
Director's loan account - 5,915
8,339 11,730
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 463
Accruals and deferred income 1,224 -
1,224 463
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 814,403 827,638
814,403 827,638
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10 10
10. Related Party Transactions
73 Friern Road Management Company Ltd
Company with a commong director and a shareholder
Intercompany balance: DB £8,339 (2022 DB £5,815).
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr Iyassu Soquar by virtue of his ownership of 100% of the issued share capital in the company.
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