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COMPANY REGISTRATION NUMBER: 14614889
NET ZERO PORTFOLIO LTD
FILLETED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 December 2023
NET ZERO PORTFOLIO LTD
STATEMENT OF FINANCIAL POSITION
31 December 2023
31 Dec 23
Note
£
£
FIXED ASSETS
Tangible assets
4
3,490,405
CURRENT ASSETS
Debtors
5
760,150
Cash at bank and in hand
2,974
---------
763,124
CREDITORS: amounts falling due within one year
6
2,583,434
------------
NET CURRENT LIABILITIES
1,820,310
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,670,095
CREDITORS: amounts falling due after more than one year
7
1,718,750
------------
NET LIABILITIES
( 48,655)
------------
CAPITAL AND RESERVES
Called up share capital
100
Profit and loss account
( 48,755)
--------
SHAREHOLDERS DEFICIT
( 48,655)
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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.
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
C A Thompson
Director
Company registration number: 14614889
NET ZERO PORTFOLIO LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 24 JANUARY 2023 TO 31 DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Phoenix Yard, 5-9 Upper Brown Street, Leicester, LE1 5TE, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of rents received, exclusive of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. TANGIBLE ASSETS
Investment property
Fixtures and fittings
Total
£
£
£
Cost
At 24 January 2023
Additions
3,442,500
59,881
3,502,381
------------
--------
------------
At 31 December 2023
3,442,500
59,881
3,502,381
------------
--------
------------
Depreciation
At 24 January 2023
Charge for the period
11,976
11,976
------------
--------
------------
At 31 December 2023
11,976
11,976
------------
--------
------------
Carrying amount
At 31 December 2023
3,442,500
47,905
3,490,405
------------
--------
------------
The investment properties were valued by the director, on an open market basis, as at 31st December 2023.
5. DEBTORS
31 Dec 23
£
Trade debtors
2,500
Amounts owed by group undertakings and undertakings in which the company has a participating interest
757,550
Other debtors
100
---------
760,150
---------
6. CREDITORS: amounts falling due within one year
31 Dec 23
£
Trade creditors
5,994
Amounts owed to group undertakings and undertakings in which the company has a participating interest
2,550,800
Other creditors
26,640
------------
2,583,434
------------
7. CREDITORS: amounts falling due after more than one year
31 Dec 23
£
Bank loans and overdrafts
1,718,750
------------
8. SUMMARY AUDIT OPINION
The auditor's report dated 24 September 2024 was unqualified .
The senior statutory auditor was JEFFREY WINE , for and on behalf of Wine & Co .