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REGISTERED NUMBER: 07049420 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Zephen Properties Limited

Zephen Properties Limited (Registered number: 07049420)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Zephen Properties Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: P J Cropper
C S J Cropper
Mrs E J Pickard





REGISTERED OFFICE: Zephen Office
Somerton Court Farm
Somerton
Somerset
TA11 7HP





REGISTERED NUMBER: 07049420 (England and Wales)

Zephen Properties Limited (Registered number: 07049420)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,534,748 1,538,379
Investments 5 2,000 2,009
1,536,748 1,540,388

CURRENT ASSETS
Debtors 6 971,069 924,646
Cash at bank and in hand 90,103 35,865
1,061,172 960,511
CREDITORS
Amounts falling due within one year 7 2,546,071 2,424,007
NET CURRENT LIABILITIES (1,484,899 ) (1,463,496 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,849

76,892

PROVISIONS FOR LIABILITIES 1,825 2,726
NET ASSETS 50,024 74,166

CAPITAL AND RESERVES
Called up share capital 1,601,202 1,601,202
Share premium 814,798 814,798
Retained earnings (2,365,976 ) (2,341,834 )
50,024 74,166

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

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 6 August 2024 and were signed on its behalf by:





Mrs E J Pickard - Director


Zephen Properties Limited (Registered number: 07049420)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Zephen Properties 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.

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.

Going Concern - The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 straight line basis and Nil
Plant and machinery - 25% on straight line basis and 25% on reducing balance

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

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Zephen Properties Limited (Registered number: 07049420)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 May 2023 1,897,097 130 110,306 2,007,533
Additions 31,444 - 3,847 35,291
Disposals - - (1,881 ) (1,881 )
At 30 April 2024 1,928,541 130 112,272 2,040,943
DEPRECIATION
At 1 May 2023 369,620 126 99,408 469,154
Charge for year 31,474 1 7,254 38,729
Eliminated on disposal - - (1,688 ) (1,688 )
At 30 April 2024 401,094 127 104,974 506,195
NET BOOK VALUE
At 30 April 2024 1,527,447 3 7,298 1,534,748
At 30 April 2023 1,527,477 4 10,898 1,538,379

Included in cost of land and buildings is freehold land of £ 354,875 (2023 - £ 354,875 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023 2,009
Disposals (9 )
At 30 April 2024 2,000
NET BOOK VALUE
At 30 April 2024 2,000
At 30 April 2023 2,009

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,389 13,384
Amounts owed by group undertakings 949,923 899,792
Prepayments and accrued income 11,757 11,470
971,069 924,646

Zephen Properties Limited (Registered number: 07049420)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 1,120,440 1,120,440
Trade creditors 2,621 3,160
Social security and other taxes 233 324
VAT 362 647
Other creditors 600 1,500
Amounts owed to group
undertakings 1,214,450 1,214,463
Directors' current accounts 197,398 57,590
Accruals and deferred income 9,967 25,883
2,546,071 2,424,007

8. ULTIMATE CONTROLLING PARTY

The controlling party is C S Cropper and E J Pickard.