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Company No: SC634022 (Scotland)

ZERO EMISSION EDINBURGH LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

ZERO EMISSION EDINBURGH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

ZERO EMISSION EDINBURGH LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
ZERO EMISSION EDINBURGH LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 453,230 453,230
453,230 453,230
Current assets
Debtors 4 142 59,034
Investments 5 141,802 123,290
Cash at bank and in hand 12,258 11,903
154,202 194,227
Creditors: amounts falling due within one year 6 ( 264,091) ( 316,150)
Net current liabilities (109,889) (121,923)
Total assets less current liabilities 343,341 331,307
Creditors: amounts falling due after more than one year 7 ( 246,836) ( 265,838)
Provision for liabilities ( 5,822) 0
Net assets 90,683 65,469
Capital and reserves
Called-up share capital 8 32,000 32,000
Profit and loss account 58,683 33,469
Total shareholders' funds 90,683 65,469

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Zero Emission Edinburgh Limited (registered number: SC634022) were approved and authorised for issue by the Board of Directors on 24 October 2024. They were signed on its behalf by:

Mr T Barlow
Director
ZERO EMISSION EDINBURGH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
ZERO EMISSION EDINBURGH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Zero Emission Edinburgh Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is First Floor The Stack, 1 Papermill Wynd, Edinburgh, EH7 4QL, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amounts receivable for property rental, and is shown net of VAT and other sales related taxes.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including unpaid directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 July 2023 453,230
As at 30 June 2024 453,230

4. Debtors

2024 2023
£ £
Other debtors 142 59,034

5. Current asset investments

2024 2023
£ £
Listed investments – at fair value 141,802 123,290

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 33,495 20,303
Trade creditors 147 135
Taxation and social security 11,427 2,493
Other creditors 219,022 293,219
264,091 316,150

The bank loan is secured by a fixed and floating charge over the company's assets.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 246,836 265,838

The bank loan is secured by a fixed and floating charge over the company's assets.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
11,200 Ordinary A shares of £ 1.00 each 11,200 11,200
11,200 Ordinary B shares of £ 1.00 each 11,200 11,200
3,200 Ordinary C shares of £ 1.00 each 3,200 3,200
3,200 Ordinary D shares of £ 1.00 each 3,200 3,200
3,200 Ordinary E shares of £ 1.00 each 3,200 3,200
32,000 32,000