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REGISTERED NUMBER: 09311947 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ZOTEC LIMITED

ZOTEC LIMITED (REGISTERED NUMBER: 09311947)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ZOTEC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: Mrs C F Christodoulou
Dr M S Christodoulou





Registered office: 10 Stadium Business Court,
Millennium Way
Pride Park
Derby
DE24 8HP





Registered number: 09311947 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
10 Stadium Business Court
Millennium Way
Pride Park
Derby
DE24 8HP

ZOTEC LIMITED (REGISTERED NUMBER: 09311947)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £
Fixed assets
Tangible assets 4 36 73
Investments 5 2 2
Investment property 6 2,214,234 2,125,001
2,214,272 2,125,076

Current assets
Debtors 7 795 1,383
Cash at bank 358,777 350,656
359,572 352,039
Creditors
Amounts falling due within one year 8 (32,675 ) (67,966 )
Net current assets 326,897 284,073
Total assets less current liabilities 2,541,169 2,409,149

Provisions for liabilities (46,497 ) (46,497 )
Net assets 2,494,672 2,362,652

Capital and reserves
Called up share capital 9 4 4
Retained earnings 10 2,494,668 2,362,648
Shareholders' funds 2,494,672 2,362,652

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.

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 24 September 2024 and were signed on its behalf by:





Dr M S Christodoulou - Director


ZOTEC LIMITED (REGISTERED NUMBER: 09311947)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Zotec 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 as modified by the revaluation of certain assets.

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.
Fixtures and fittings - 20% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in the income statement.

Investments in participating interests
Investments in subsidiaries and associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents rents receivable, stated net of discounts and of Value Added Tax.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

ZOTEC LIMITED (REGISTERED NUMBER: 09311947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
Cost
At 1 January 2023
and 31 December 2023 3,161
Depreciation
At 1 January 2023 3,088
Charge for year 37
At 31 December 2023 3,125
Net book value
At 31 December 2023 36
At 31 December 2022 73

5. FIXED ASSET INVESTMENTS
Interest in
other
participating
interests
£
Cost
At 1 January 2023
and 31 December 2023 2
Net book value
At 31 December 2023 2
At 31 December 2022 2

6. INVESTMENT PROPERTY
Total
£
Fair value
At 1 January 2023 2,125,001
Additions 89,233
At 31 December 2023 2,214,234
Net book value
At 31 December 2023 2,214,234
At 31 December 2022 2,125,001

Investment property relates to two individual properties held at their most recent valuation. The first property was valued professionally in 2019 at £445,000, and the directors believe this valuation to remain accurate as at the balance sheet date. The second property was subject to professional valuation in 2022. The property was valued at £1,680,000 and the directors believe this valuation is an accurate representation of fair value as at the balance sheet date.

Cost as at the balance sheet date is represented by £1,888,612 brought forward and a further £89,233 additions during the year.

ZOTEC LIMITED (REGISTERED NUMBER: 09311947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£
Valuation in 2019 125,000
Valuation in 2022 111,389
Cost 1,977,845
2,214,234

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Prepayments and accrued income 795 1,383

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts - 24,781
Tax 14,397 23,636
VAT 432 1,892
Accrued expenses 10,291 10,102
Directors' current accounts 7,555 7,555
32,675 67,966

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 A Ordinary £1 2 2
2 Ordinary £1 2 2
4 4

10. RESERVES
Retained
earnings
£

At 1 January 2023 2,362,648
Profit for the year 132,020
At 31 December 2023 2,494,668

The retained earnings balance at 31 December 2023 of £2,494,668 includes a non-distributable reserve of £236,389 in relation to the investment properties.