ZENITH PARKING LIMITED

Company Registration Number:
10401732 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 27 September 2023

End date: 30 September 2024

ZENITH PARKING LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

ZENITH PARKING LIMITED

Company Information

for the Period Ended 30 September 2024




Director: Alfred Moore
Registered office: 1
Water Street
Kidwelly
Dyfed
GBR
SA17 5BX
Company Registration Number: 10401732 (England and Wales)

ZENITH PARKING LIMITED

Directors' Report Period Ended 30 September 2024

The directors present their report with the financial statements of the company for the period ended 30 September 2024

Directors

The director(s) shown below were appointed to the company during the period
Alfred Moore
01 August 2024

This report was approved by the board of directors on 3 October 2024
And Signed On Behalf Of The Board By:

Name: Alfred Moore
Status: Director

ZENITH PARKING LIMITED

Profit and Loss Account

for the Period Ended 30 September 2024


Notes

2024
£

2023
£
Turnover 3,988,076 1,047,990
Cost of sales ( 2,242,201 ) ( 654,055 )
Gross Profit or (Loss) 1,745,875 393,935
Distribution Costs ( 241,300 ) ( 34,875 )
Administrative Expenses ( 413,090 ) ( 110,098 )
Other operating income 23,550 777
Operating Profit or (Loss) 1,115,035 249,739
Interest Payable and Similar Charges ( 10,873 ) ( 902 )
Profit or (Loss) Before Tax 1,104,162 248,837
Tax on Profit ( 276,040 ) ( 47,279 )
Profit or (Loss) for Period 828,122 201,558

The notes form part of these financial statements

ZENITH PARKING LIMITED

Balance sheet

As at 30 September 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 4 87,000 44,500
Tangible assets: 5 245,800 174,758
Total fixed assets: 332,800 219,258
Current assets
Stocks: 13,000 9,700
Debtors: 6 301,088 4,369
Cash at bank and in hand: 214,714 44,589
Total current assets: 528,802 58,658
Prepayments and accrued income: 17,780
Creditors: amounts falling due within one year: 7 ( 19,000 ) ( 23,000 )
Net current assets (liabilities): 527,582 35,658
Total assets less current liabilities: 860,382 254,916
Creditors: amounts falling due after more than one year: 8 ( 0 ) ( 0 )
Accruals and deferred income: ( 12,660 )
Total net assets (liabilities): 847,722 254,916

The notes form part of these financial statements

ZENITH PARKING LIMITED

Balance sheet continued

As at 30 September 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 100 100
Revaluation reserve: 9 19,500 53,258
Profit and loss account: 828,122 201,558
Shareholders funds: 847,722 254,916

For the year ending 30 September 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 3 October 2024
And Signed On Behalf Of The Board By:

Name: Alfred Moore
Status: Director

The notes form part of these financial statements

ZENITH PARKING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, excluding discount rebates, value added tax (VAT) and other fees.

    Tangible fixed assets depreciation policy

    Depreciation is recorded at the following annual rates to write off each asset over its estimated useful life: Machinery & Equipment (15% on reducing balance). Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognized in profit or loss.

    Valuation information and policy

    The company adopts a fair value approach to valuing its assets and liabilities. This approach ensures that assets and liabilities are recorded at their estimated fair market values, providing a more accurate reflection of the company's financial position. The valuation process is conducted by qualified professionals using appropriate valuation methodologies and considering relevant market data and industry practices. Regular reviews and updates of valuations are performed to maintain accuracy and relevance.

    Other accounting policies

    Deferred tax is recognized 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 recognized 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 recognized 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.

ZENITH PARKING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 9 5

ZENITH PARKING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 3. Off balance sheet disclosure

    No

ZENITH PARKING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Intangible assets

Goodwill Other Total
Cost £ £ £
At 27 September 2023 39,500 5,000 44,500
Additions 42,500 0 42,500
Disposals - - -
Revaluations - - -
Transfers - - -
At 30 September 2024 82,000 5,000 87,000
Amortisation
Amortisation at 27 September 2023 - - -
Charge for year - - -
On disposals - - -
Other adjustments - - -
Amortisation at 30 September 2024 - - -
Net book value
Net book value at 30 September 2024 82,000 5,000 87,000
Net book value at 26 September 2023 39,500 5,000 44,500

The goodwill represents the long terms relations with our trusted customers, established cashflows and agreements with vendors. The document acquired for necessary operations are also valued in "others".

ZENITH PARKING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Tangible assets

Plant & machinery Fixtures & fittings Office equipment Total
Cost £ £ £ £
At 27 September 2023 84,670 67,758 22,330 174,758
Additions 41,230 9,470 12,493 63,193
Disposals - - - -
Revaluations 9,760 1,850 7,890 19,500
Transfers - - - -
At 30 September 2024 135,660 79,078 42,713 257,451
Depreciation
At 27 September 2023 - - - -
Charge for year 5,645 4,517 1,489 11,651
On disposals - - - -
Other adjustments - - - -
At 30 September 2024 5,645 4,517 1,489 11,651
Net book value
At 30 September 2024 130,015 74,561 41,224 245,800
At 26 September 2023 84,670 67,758 22,330 174,758

The company had tangible assets worth of £ 174,758 at the start of year. The depreciation of £ 11,651 at declining balance method is accounted for the year, keeping the note that assets can be used for 15 years.

The growing operations led to expansion in storage facilities. The company has increased its assets by £ 63,193. The source of these assets is the excess in shareholders funds.

ZENITH PARKING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

6. Debtors


2024
£

2023
£
Trade debtors 181,238 3,369
Prepayments and accrued income 57,850 1,000
Other debtors 62,000
Total 301,088 4,369

Debtors amounts represent amounts due from our customers for facilities provided on credit, prepayments for services and receivables. As of 30 September 2024, debtors totaled at £ 301,088. Management is confident of recovering these amounts in the coming months.

The company also maintains an allowance for doubtful debts to account for potential losses from uncollectable debts. The allowance is based on a review of the aging of the receivables and other factors. As of 30 September 2024, there is no allowance for doubtful debts.

ZENITH PARKING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

7.Creditors: amounts falling due within one year note


2024
£

2023
£
Trade creditors 19,000 23,000
Total 19,000 23,000

Creditors represent the amount due to suppliers for services gained on deferred payment. As of 30 September 2024, creditors totaled £ 19,000. The amount is to be settled in a period of 90 days.

ZENITH PARKING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

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


2024
£

2023
£
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Other creditors 0 0
Total 0 0

There are no long term liabilities of the company.

ZENITH PARKING LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

9. Revaluation reserve


2024
£
Balance at 27 September 2023 53,258
Surplus or deficit after revaluation ( 33,758 )
Balance at 30 September 2024 19,500

A revaluation of £ 19,500 is account for the assets.