Company Registration No. 12097138 (England and Wales)
Van Zyl Properties Limited
Unaudited accounts
for the year ended 31 March 2024
Van Zyl Properties Limited
Unaudited accounts
Contents
Van Zyl Properties Limited
Company Information
for the year ended 31 March 2024
Directors
Christo van Zyl
Thea Lydia van Zyl
Company Number
12097138 (England and Wales)
Registered Office
7 Brownings Orchard
Rodmersham
Sittingbourne
ME9 0PE
United Kingdom
Accountants
Anumerate Limited
Office 2.05, Clockwise
Old Town Hall
30 Tweedy Road
Bromley
BR13FE
Van Zyl Properties Limited
Statement of financial position
as at 31 March 2024
Investment property
522,999
257,000
Cash at bank and in hand
7,310
8,791
Creditors: amounts falling due within one year
(80,460)
(64,957)
Net current liabilities
(73,150)
(56,166)
Total assets less current liabilities
449,849
200,834
Creditors: amounts falling due after more than one year
(406,184)
(135,592)
Called up share capital
10
10
Profit and loss account
43,655
65,232
Shareholders' funds
43,665
65,242
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by
Thea Lydia van Zyl
Director
Company Registration No. 12097138
Van Zyl Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
Van Zyl Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 12097138. The registered office is 7 Brownings Orchard, Rodmersham, Sittingbourne, ME9 0PE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment properties are initially measured at the cost of the purchased investment property plus any directly attributable expenditure. Where fair value can be measured reliably, the property shall be measured at fair value each year and changes in fair value are recognised in profit and loss.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold when future profits are reasonably certain to be
achieved.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted. 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.
Van Zyl Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
The Directors are of the opinion that the Company is a going concern.
Fair value at 1 April 2023
257,000
Net loss from fair value adjustments
(12,978)
The company holds two investment properties.
The first property was originally valued and captured as the property purchase price of £181,000 plus directly attributable purchase expenses of £9568.
As at 31 March 2024 the Directors are of the view that the fair market value of the property is £253,000 and that this represents a reasonable fair value for the investment properties.
The second property was originally valued and captured as the property purchase price of £267,500 plus directly attributable purchase expenses of £11,477.60.
As at 31 March 2024 the Directors are of the view that the fair market value of the property is £270,000 and that this represents a reasonable fair value for the investment properties.
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
4,309
Taxes and social security
-
188
Loans from directors
80,460
60,460
6
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
346,184
135,592
This balance relates to the mortgages on the investment properties and is repayable in monthly installments. These are both Interest-Only mortgages. The remaining term on the first property's mortgage is 22 years and 11 months. The remaining term on the second property's mortgage is 20 years and 2 months.
Allotted, called up and fully paid:
50 Ordinary shares class A of £0.10 each
5
5
50 Ordinary shares class B of £0.10 each
5
5
Van Zyl Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
8
Transactions with related parties
As at 31 March 2024, Van Zyl Properties Limited has a creditor balance of £60,000 (2023: £0) due to be repaid to Zazen Media Limited, a related party by virtue of having a Director in common. There are no fixed terms of repayment, no interest is charged and the loan is repayable on demand.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).