REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 March 2024 |
for |
Zest Ventures Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 March 2024 |
for |
Zest Ventures Limited |
Zest Ventures Limited (Registered number: 05268456) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 4 |
Zest Ventures Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Zest Ventures Limited (Registered number: 05268456) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Zest Ventures Limited (Registered number: 05268456) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Zest Ventures Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents interest receivable from commercial business loans. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
Included within Other debtors are loans to the following companies: |
APS Accountancy Ltd - £51,057 (2023: £76,224) - Interest receivable £4,995 (2023: £4,140) |
The Sanderum Centre Ltd - £1,162,500 (2023: £1,214,776) - Interest receivable £83,477 (2023: £52,860) |
Zest Developments Ltd - £300,417 (2023: £300,417) - Interest receivable £22,719 (2023: £14,708) - Provision for interest assessed as unlikely to be received £22,719 (2023: 14,708) |
Included within Other creditors are loans from the following companies: |
IPI Ventures Ltd - £ - (2023: £ - ) - Interest payable £ - (2023: £2,000) |
IPI Holdings Ltd - £802,969 (2023: £799,563) - Interest payable £52,969 (2023: £32,969) |
M Boughton and R Boughton control The Sanderum Centre Ltd, Zest Developments Ltd, IPI Ventures Ltd and IPI Holdings Ltd. M Boughton and R Boughton are both directors of The Sanderum Centre Ltd, Zest Developments Ltd and IPI Ventures Ltd. M Boughton is a director of IPI Holdings Ltd and R Boughton is a director of APS Accountancy Ltd. M Boughton and R Boughton control and are directors of Zest Ventures Ltd. |
The loans are unsecured. Interest receivable and payable are charged a rates comparable with secured commercial bank loans and therefore lending is on a wholly commercial basis other than the loans are not secured on the assets of companies the directors control. |
A total provision has been made against interest receivable from Zest Developments Limited that the directors assess will not be paid of £90,160 (2023: £67,441). The loan was advanced to fund a specific commercial project that was expected to generate a profit but unfortunately generated a loss. |
Zest Ventures Limited (Registered number: 05268456) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | ULTIMATE CONTROLLING PARTY |
The parent company is Zest Ventures Holdings Limited. |
The company is ultimately controlled by the directors by virtue of their shareholdings in Zest Ventures Holdings Limited. |