Ziggurat St Albans Ltd |
Notes to the Accounts |
for the year ended 31 December 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Revenue is recognised to the extent that it is probable that the economic benefit will flow to the Company and the revenue can be reliably measured. Revenue is measured as th fair value of the consideration received or receivable, excluding discounts, rebates, and VAT. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Dividends |
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Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at general meetings.approved by the shareholders |
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Going concern |
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The company is dealing with various matters in relation to its property transactions and will continue to do so until they are completed. The Board believes that company will have sufficient cash funds to meet any expenses required to do this as and when they fall due. Accordingly these financial statements continue to be prepared on a going concern basis. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company (including directors) |
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3 |
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3 |
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3 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Corporation tax |
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- |
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655 |
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Other debtors |
102 |
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100 |
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102 |
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755 |
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4 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Trade creditors |
16 |
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- |
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Accruals |
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7,650 |
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5,150 |
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7,666 |
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5,150 |
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5 |
Controlling party |
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At 31 December 2023, the controlling party is viewed as Augur Property Leith Ltd as a result of its majority shareholding in the company. No consolidated accounts are required to be prepared that include the results of this company. |
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6 |
Other information |
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Ziggurat St Albans Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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13 Breasy Place |
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Burroughs Gardens |
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London |
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NW4 4AT |