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Registration number: 12112620

Zone Property Management Limited

Unaudited Filleted Financial Statements

for the Period from 1 August 2023 to 31 March 2024

 

Zone Property Management Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Zone Property Management Limited

Company Information

Director

Tomas Charles Whitaker

Registered office

Sopers House Sopers Road
Cuffley
Potters Bar
EN6 4RY

Accountants

Mansell & Co
Chartered Certified Accountants
5 Ducketts Wharf
South Street
Bishop's Stortford
Hertfordshire
CM23 3AR

 

Zone Property Management Limited

(Registration number: 12112620)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

34,826

11,186

Current assets

 

Debtors

5

114,958

90,877

Cash at bank and in hand

 

3,543

15,334

 

118,501

106,211

Creditors: Amounts falling due within one year

6

(124,687)

(95,094)

Net current (liabilities)/assets

 

(6,186)

11,117

Total assets less current liabilities

 

28,640

22,303

Creditors: Amounts falling due after more than one year

6

(64,199)

(44,119)

Net liabilities

 

(35,559)

(21,816)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(35,561)

(21,818)

Shareholders' deficit

 

(35,559)

(21,816)

For the financial period 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 period 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 28 October 2024
 

.........................................
Tomas Charles Whitaker
Director

 

Zone Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 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:
Sopers House Sopers Road
Cuffley
Potters Bar
EN6 4RY
England

These financial statements were authorised for issue by the director on 28 October 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 for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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:

 

Zone Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024

Asset class

Depreciation method and rate

Computer equipment

33.33% straight-line basis

Furniture and fttings

33.33% sraight-line basis

Motor vehicle

25% reducing balance

Plant & machinery

25% reducing balance

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 customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

 

Zone Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 period, was 8 (2023 - 6).

 

Zone Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 August 2023

208

-

1,959

13,250

Additions

-

35,710

-

-

At 31 March 2024

208

35,710

1,959

13,250

Depreciation

At 1 August 2023

138

-

781

3,312

Charge for the period

69

8,928

589

2,484

At 31 March 2024

207

8,928

1,370

5,796

Carrying amount

At 31 March 2024

1

26,782

589

7,454

At 31 July 2023

70

-

1,178

9,938

Total
£

Cost or valuation

At 1 August 2023

15,417

Additions

35,710

At 31 March 2024

51,127

Depreciation

At 1 August 2023

4,231

Charge for the period

12,070

At 31 March 2024

16,301

Carrying amount

At 31 March 2024

34,826

At 31 July 2023

11,186

5

Debtors

Current

2024
£

2023
£

Trade debtors

58,228

32,681

Prepayments

1,452

-

Other debtors

55,278

58,196

 

114,958

90,877

 

Zone Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

47,647

7,367

Trade creditors

 

3,518

-

Taxation and social security

 

38,266

44,981

Accruals and deferred income

 

3,074

3,951

Other creditors

 

32,182

38,795

 

124,687

95,094

 

Zone Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

64,199

44,119

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

31,868

35,374

Hire purchase contracts

32,331

8,745

64,199

44,119

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,000

5,318

Hire purchase contracts

8,813

2,385

Other borrowings

33,834

(336)

47,647

7,367