Zephyrus Investments Limited 09867130 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property investment Digita Accounts Production Advanced 6.30.9574.0 true true 09867130 2023-04-01 2024-03-31 09867130 2024-03-31 09867130 bus:Director1 1 2024-03-31 09867130 bus:OrdinaryShareClass1 2024-03-31 09867130 core:CurrentFinancialInstruments 2024-03-31 09867130 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09867130 core:Non-currentFinancialInstruments 2024-03-31 09867130 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09867130 core:FurnitureFittingsToolsEquipment 2024-03-31 09867130 bus:SmallEntities 2023-04-01 2024-03-31 09867130 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09867130 bus:FilletedAccounts 2023-04-01 2024-03-31 09867130 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09867130 bus:RegisteredOffice 2023-04-01 2024-03-31 09867130 bus:Director1 2023-04-01 2024-03-31 09867130 bus:Director1 1 2023-04-01 2024-03-31 09867130 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09867130 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09867130 core:FurnitureFittings 2023-04-01 2024-03-31 09867130 countries:EnglandWales 2023-04-01 2024-03-31 09867130 2023-03-31 09867130 bus:Director1 1 2023-03-31 09867130 core:FurnitureFittingsToolsEquipment 2023-03-31 09867130 2022-04-01 2023-03-31 09867130 2023-03-31 09867130 bus:Director1 1 2023-03-31 09867130 bus:OrdinaryShareClass1 2023-03-31 09867130 core:CurrentFinancialInstruments 2023-03-31 09867130 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09867130 core:Non-currentFinancialInstruments 2023-03-31 09867130 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09867130 bus:Director1 1 2022-04-01 2023-03-31 09867130 bus:Director1 1 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09867130

Zephyrus Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

(Registration number: 09867130)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

190,000

193,694

Current assets

 

Debtors

6

4,539

4,277

Cash at bank and in hand

 

1,330

769

 

5,869

5,046

Creditors: Amounts falling due within one year

7

(71,399)

(69,449)

Net current liabilities

 

(65,530)

(64,403)

Total assets less current liabilities

 

124,470

129,291

Creditors: Amounts falling due after more than one year

7

(141,218)

(141,220)

Net liabilities

 

(16,748)

(11,929)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(16,749)

(11,930)

Shareholders' deficit

 

(16,748)

(11,929)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 September 2024
 

.........................................
Mr R J Handel
Director

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
80 Nelson Road
London
N8 9RT

These financial statements were authorised for issue by the director on 25 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from the company investments.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

25% straight line basis

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from tenants of investment properties.

A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

4,328

4,328

At 31 March 2024

4,328

4,328

Depreciation

At 1 April 2023

4,328

4,328

At 31 March 2024

4,328

4,328

Carrying amount

At 31 March 2024

-

-

5

Investment properties

2024
£

At 1 April

193,694

Fair value adjustments

(3,694)

At 31 March

190,000

The investment property has been revalued by the director in the year. The historic cost of the property was £193,694 (2023: £193,694)

There has been no valuation of investment property by an independent valuer.

Impairment of investment property

The amount of impairment loss included in profit or loss is £3,694 (2023 - £Nil).

6

Debtors

Current

2024
£

2023
£

Prepayments

4,539

3,877

Other debtors

-

400

 

4,539

4,277

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

528

540

Other creditors

70,871

68,909

71,399

69,449

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

141,218

141,220

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

141,218

141,220

11

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Other payments made to company by director
£

At 31 March 2024
£

Mr R J Handel

Director's loan account

(68,909)

(1,962)

(70,871)

2023

At 1 April 2022
£

Other payments made to company by director
£

At 31 March 2023
£

Mr R J Handel

Director's loan account

(64,597)

(4,312)

(68,909)