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Registration number: 11712497

Zenko Properties Ilkley Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Zenko Properties Ilkley Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Zenko Properties Ilkley Limited

Company Information

Directors

Mr Tobias Duczenko

Mr Ian Patrick Darley

Registered office

Ground Floor
Graphical House
2 Wharf Street
Leeds
LS2 7EQ

Accountants

Fullertons Limited
Chartered Certified Accountants
Manchester House
50a Oxford Road
Guiseley
Leeds
LS20 8AB

 

Zenko Properties Ilkley Limited

(Registration number: 11712497)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

109,852

117,176

Tangible assets

5

1,298

1,506

 

111,150

118,682

Current assets

 

Debtors

6

4,500

1,950

Cash at bank and in hand

 

(1,857)

6,267

 

2,643

8,217

Creditors: Amounts falling due within one year

7

(172,680)

(129,405)

Net current liabilities

 

(170,037)

(121,188)

Total assets less current liabilities

 

(58,887)

(2,506)

Creditors: Amounts falling due after more than one year

7

-

(26,700)

Net liabilities

 

(58,887)

(29,206)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(58,987)

(29,306)

Shareholders' deficit

 

(58,887)

(29,206)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 August 2024 and signed on its behalf by:
 

 

Zenko Properties Ilkley Limited

(Registration number: 11712497)
Balance Sheet as at 31 March 2024

.........................................
Mr Tobias Duczenko
Director

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Ground Floor
Graphical House
2 Wharf Street
Leeds
LS2 7EQ

The principal place of business is:
3 Briggate
Silsden
West Yorkshire
BD20 9JS

These financial statements were authorised for issue by the Board on 15 August 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.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax. Commission receivable on property sales is recognised on completion of the property sale.

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on net book value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed twenty years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

146,470

146,470

At 31 March 2024

146,470

146,470

Amortisation

At 1 April 2023

29,294

29,294

Amortisation charge

7,324

7,324

At 31 March 2024

36,618

36,618

Carrying amount

At 31 March 2024

109,852

109,852

At 31 March 2023

117,176

117,176

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

4,760

4,760

Additions

225

225

At 31 March 2024

4,985

4,985

Depreciation

At 1 April 2023

3,254

3,254

Charge for the year

433

433

At 31 March 2024

3,687

3,687

Carrying amount

At 31 March 2024

1,298

1,298

At 31 March 2023

1,506

1,506

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

2,700

1,950

Other debtors

1,800

-

 

4,500

1,950

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

30

755

Taxation and social security

13,137

6,637

Accruals and deferred income

2,035

1,800

Other creditors

157,478

120,213

172,680

129,405

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

26,700

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

-

26,700

 

Zenko Properties Ilkley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

Mr Tobias Duczenko

Director's loan account

26,700

(28,500)

(1,800)

Summary of transactions with associates

Loans from related parties

 

Entities with joint control or significant influence

2024
£

2023
£

At start of period

119,097

101,597

Advanced

37,300

17,500

At end of period

156,397

119,097

Terms of loans from related parties

The loan balance is due to Zenko Properties Limited a company in which Mr Tobias Duczenko is a director and shareholder. The loan is interest free but repayable on demand.