IRIS Accounts Production v24.3.0.553 08169812 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh081698122023-03-31081698122024-03-31081698122023-04-012024-03-31081698122022-03-31081698122022-04-012023-03-31081698122023-03-3108169812ns15:EnglandWales2023-04-012024-03-3108169812ns14:PoundSterling2023-04-012024-03-3108169812ns10:Director12023-04-012024-03-3108169812ns10:Director22023-04-012024-03-3108169812ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108169812ns10:SmallEntities2023-04-012024-03-3108169812ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3108169812ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3108169812ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108169812ns10:FullAccounts2023-04-012024-03-3108169812ns10:RegisteredOffice2023-04-012024-03-3108169812ns5:CurrentFinancialInstruments2024-03-3108169812ns5:CurrentFinancialInstruments2023-03-3108169812ns5:Non-currentFinancialInstruments2024-03-3108169812ns5:Non-currentFinancialInstruments2023-03-3108169812ns5:ShareCapital2024-03-3108169812ns5:ShareCapital2023-03-3108169812ns5:RevaluationReserve2024-03-3108169812ns5:RevaluationReserve2023-03-3108169812ns5:RetainedEarningsAccumulatedLosses2024-03-3108169812ns5:RetainedEarningsAccumulatedLosses2023-03-3108169812ns5:PlantMachinery2023-04-012024-03-3108169812ns5:PlantMachinery2023-03-3108169812ns5:PlantMachinery2024-03-3108169812ns5:PlantMachinery2023-03-3108169812ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3108169812ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3108169812ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3108169812ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3108169812ns5:RevaluationReserve2023-03-31
REGISTERED NUMBER: 08169812 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ABDELZO LIMITED

ABDELZO LIMITED (REGISTERED NUMBER: 08169812)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABDELZO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J B Jackson
T B Jackson





REGISTERED OFFICE: Kevington Hall
Crockenhill Road
Kevington
Orpington
Kent
BR5 4EP





REGISTERED NUMBER: 08169812 (England and Wales)





ACCOUNTANTS: Greenaway Chartered Accountants
150 High Street
Sevenoaks
Kent
TN13 1XE

ABDELZO LIMITED (REGISTERED NUMBER: 08169812)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 144,354 147,009
Investment property 5 2,783,453 1,808,173
2,927,807 1,955,182

CURRENT ASSETS
Stocks 30,952 35,977
Debtors 6 7,498 9,750
Cash at bank and in hand 146,287 6,802
184,737 52,529
CREDITORS
Amounts falling due within one year 7 114,391 121,166
NET CURRENT ASSETS/(LIABILITIES) 70,346 (68,637 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,998,153

1,886,545

CREDITORS
Amounts falling due after more than one
year

8

(1,040,031

)

(731,399

)

PROVISIONS FOR LIABILITIES (418,155 ) (174,218 )
NET ASSETS 1,539,967 980,928

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable retained
earnings 10 1,254,464 742,720
Retained earnings 285,403 238,108
SHAREHOLDERS' FUNDS 1,539,967 980,928

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ABDELZO LIMITED (REGISTERED NUMBER: 08169812)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:




J B Jackson - Director



T B Jackson - Director


ABDELZO LIMITED (REGISTERED NUMBER: 08169812)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Abdelzo Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

ABDELZO LIMITED (REGISTERED NUMBER: 08169812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 April 2023 310,126
Additions 506
Disposals (9,601 )
At 31 March 2024 301,031
DEPRECIATION
At 1 April 2023 163,117
Charge for year 3,136
Eliminated on disposal (9,576 )
At 31 March 2024 156,677
NET BOOK VALUE
At 31 March 2024 144,354
At 31 March 2023 147,009

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2023 1,808,173
Additions 219,599
Revaluations 755,681
At 31 March 2024 2,783,453
NET BOOK VALUE
At 31 March 2024 2,783,453
At 31 March 2023 1,808,173

Fair value at 31 March 2024 is represented by:
£
Valuation in 2016 90,524
Valuation in 2017 331,680
Valuation in 2022 494,735
Valuation in 2024 755,681
Cost 1,110,833
2,783,453

ABDELZO LIMITED (REGISTERED NUMBER: 08169812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY - continued

If the investment property had not been revalued it would have been included at the following historical cost:

31/3/24 31/3/23
£ £
Cost 1,110,833 891,234

An investment property was valued on an open market basis on 17 May 2024 by Savills (UK) Limited .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£ £
Trade debtors 7,498 8,550
Other debtors - 1,200
7,498 9,750

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£ £
Bank loans and overdrafts 46,479 69,691
Trade creditors 10,264 1,259
Amounts owed to associates 7,000 12,000
Taxation and social security 31,748 25,816
Other creditors 18,900 12,400
114,391 121,166

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£ £
Bank loans 941,659 681,842
Other creditors 98,372 49,557
1,040,031 731,399

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 98,372 49,557

Repayable by instalments
Bank loans more 5 yr by instal 745,518 413,740

ABDELZO LIMITED (REGISTERED NUMBER: 08169812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. SECURED DEBTS

Bank loans are secured by the following:

1) A debenture dated 13 March 2014 comprising of fixed and floating charges over all the assets and undertakings of the company.

2) A legal mortgage charge dated 24 March 2014 over the land acquired in March 2014.

3) A legal mortgage charge dated 20 February 2017 over land to North East of Kevington Hall.

10. RESERVES
Non-distributable
retained
earnings
£
At 1 April 2023 742,720
Non-distributable profit 511,744

At 31 March 2024 1,254,464

11. RELATED PARTY DISCLOSURES

During the year the company purchased goods totalling £18,481.51 (2023: £1,824) from an associated company owned by the shareholders of Abdelzo Limited.

During the year the company received £31,800 (2023: £35,150) rent for the use of an agricultural yard and units from an associated company.

During the year the company also received £14,400 (2023: £14,400) rent for the use of a Chalet from an associated company.

At the balance sheet date Abdelzo Limited owed £7,000 (2023: £12,000) to an associated company.

The company rents a space on a property owned personally by the directors on a tenants repairing lease. There was a 24 month rent free period due to the poor condition of the property which has now been extended indefinitely due to the continuing investment and the small number of events. Abdelzo Limited is required to meet all costs for converting the space into an events venue for business purposes. After this period rent will be charged at market value.