Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-302023-12-3022The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-12-31falserental of propertyfalsetrue 06927829 2022-12-31 2023-12-30 06927829 2021-12-31 2022-12-30 06927829 2023-12-30 06927829 2022-12-30 06927829 c:Director1 2022-12-31 2023-12-30 06927829 c:Director2 2022-12-31 2023-12-30 06927829 c:RegisteredOffice 2022-12-31 2023-12-30 06927829 d:FreeholdInvestmentProperty 2023-12-30 06927829 d:FreeholdInvestmentProperty 2022-12-30 06927829 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-30 06927829 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-30 06927829 d:ShareCapital 2023-12-30 06927829 d:ShareCapital 2022-12-30 06927829 d:RevaluationReserve 2023-12-30 06927829 d:RevaluationReserve 2022-12-30 06927829 d:RetainedEarningsAccumulatedLosses 2023-12-30 06927829 d:RetainedEarningsAccumulatedLosses 2022-12-30 06927829 c:FRS102 2022-12-31 2023-12-30 06927829 c:AuditExempt-NoAccountantsReport 2022-12-31 2023-12-30 06927829 c:AbridgedAccounts 2022-12-31 2023-12-30 06927829 c:PrivateLimitedCompanyLtd 2022-12-31 2023-12-30 iso4217:GBP xbrli:pure

Registered number: 06927829









Z + F UK PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 DECEMBER 2023

 
Z + F UK PROPERTIES LIMITED
 

CONTENTS



Page
Company Information
 
1
Statement of Financial Position
 
2 - 3
Notes to the Financial Statements
 
4 - 8

 
Z + F UK PROPERTIES LIMITED
 
 
COMPANY INFORMATION


Directors
C Froehlich 
M Patt 




Registered number
06927829



Registered office
Westgate House
44 Hale Road

Hale

Cheshire

WA14 2EX




Page 1

 
Z + F UK PROPERTIES LIMITED
REGISTERED NUMBER: 06927829

STATEMENT OF FINANCIAL POSITION
AS AT 30 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
  
680,000
680,000

  
680,000
680,000

Current assets
  

Debtors
  
417,634
306,622

Cash at bank and in hand
  
68,308
126,410

  
485,942
433,032

Creditors: amounts falling due within one year
  
(37,804)
(35,659)

Net current assets
  
 
 
448,138
 
 
397,373

Total assets less current liabilities
  
1,128,138
1,077,373

Provisions for liabilities
  
(32,909)
(32,505)

Net assets
  
1,095,229
1,044,868


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Revaluation reserve
  
(55,081)
(55,081)

Profit and loss account
  
1,149,310
1,098,949

  
1,095,229
1,044,868

Page 2

 
Z + F UK PROPERTIES LIMITED
REGISTERED NUMBER: 06927829
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C Froehlich
Director

Date: 19 August 2024

The notes on pages 4 to 8 form part of these financial statements.
Page 3

 
Z + F UK PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

1.


General information

The company is a private company limited by shares, registered in England and Wales, (Company registration number - 06927829). The address of the registered office is Westgate House, 44 Hale Road, Hale, Cheshire, England, WA14 2EX .

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.
Rental income is invoiced on a quarterly basis, throughout the year, in advance of the period let to the
tenant and initially recorded within payables after which the relevant monthly proportion is then released to turnover. A full twelve months rental charge is recognised in the period.

Page 4

 
Z + F UK PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
Z + F UK PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Income and Retained Earnings if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial 
Page 6

 
Z + F UK PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Impairment of debtors
The company makes an estimate of the recoverable value of trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 7

 
Z + F UK PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023

5.


Investment property


Investment property

£



Valuation


At 31 December 2022
680,000



At 30 December 2023
680,000

At the year end the valuation of the investment property was reviewed and considered by the director, Dr C Froehlich based on the fair value and this was considered to be £680,000.
In September 2011 a valuation report, based on open market value, was undertaken on the investment property by Lynne Garsden FRICS, a chartered surveyor, of Guest Garsden Property Consultants which resulted in the property being valued at £680,000.





6.


Related party transactions

Included within other debtors is an amount of £394,545 (2022 - £306,621) due from other group companies. 
In the prior year an amount of £49,899 due from another group company that had been previously written off was recovered.


7.


Controlling party

The ultimate parent company undertaking is Zoller + Froehlich Gmbh, a company registered in Germany.

 
Page 8