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REGISTERED NUMBER: SC638650 (Scotland)

















Abridged Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Zizibreezi Ltd.

Zizibreezi Ltd. (Registered number: SC638650)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


Zizibreezi Ltd.

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G T M McRae
G McRae





REGISTERED OFFICE: 93 Constitution Street
Edinburgh
EH6 7SE





REGISTERED NUMBER: SC638650 (Scotland)





ACCOUNTANT: Gibson McKerrell Burrows Limited
28 Rutland Square
Edinburgh
EH1 2BW

Zizibreezi Ltd. (Registered number: SC638650)

Abridged Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,432 8,812

CURRENT ASSETS
Debtors 14,748 8,325
Cash at bank 159,735 76,048
174,483 84,373
CREDITORS
Amounts falling due within one year 30,012 34,387
NET CURRENT ASSETS 144,471 49,986
TOTAL ASSETS LESS CURRENT
LIABILITIES

148,903

58,798

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 147,903 57,798
148,903 58,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 September 2024 and were signed on its behalf by:





G T M McRae - Director


Zizibreezi Ltd. (Registered number: SC638650)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Zizibreezi Ltd. is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is attributable to the company's principal activity of the provision of services to rented accommodation.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. Cost includes the original purchase price and costs directly attributable to bringing the asset to its present location and into its present condition. After initial recognition, the assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. Freehold properties are subsequently measured at their revalued amount, being the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is provided by equal instalments at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles - over 5 years
Plant and machinery - 10 years

Depreciation and impairment losses are charged to the Income Statement within administrative expenses.
The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

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 payables, loans from banks and other third parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires

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 Statement of Financial Position date.


Zizibreezi Ltd. (Registered number: SC638650)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 Statement of Financial Position 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 1 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 10,791
Additions 3,328
Disposals (8,995 )
At 31 December 2023 5,124
DEPRECIATION
At 1 January 2023 1,979
Charge for year 512
Eliminated on disposal (1,799 )
At 31 December 2023 692
NET BOOK VALUE
At 31 December 2023 4,432
At 31 December 2022 8,812

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
G T M McRae
Balance outstanding at start of year (6,140 ) (1,686 )
Amounts advanced 8,679 -
Amounts repaid (1,300 ) (4,454 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,239 (6,140 )

Zizibreezi Ltd. (Registered number: SC638650)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

G McRae
Balance outstanding at start of year (1,922 ) -
Amounts advanced 1,922 -
Amounts repaid - (1,922 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (1,922 )

6. RELATED PARTY DISCLOSURES

Included within other debtors is an amount of £2,846 due to Wolfie Adventures Limited. G Mcrae and G T M Mcrae are both directors of Wolfie Adventures Limited.