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REGISTERED NUMBER: 10694301 (England and Wales)















ZIA DEVELOPMENTS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






ZIA DEVELOPMENTS LTD (REGISTERED NUMBER: 10694301)

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


ZIA DEVELOPMENTS LTD

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: M Zia
S A Zia





REGISTERED OFFICE: 11 Sandmoor Chase
Leeds
West Yorkshire
LS17 7TB





REGISTERED NUMBER: 10694301 (England and Wales)





ACCOUNTANTS: SMH Sheards
Chartered Accountants
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

ZIA DEVELOPMENTS LTD (REGISTERED NUMBER: 10694301)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 18,787 23,307
Investment property 5 1,350,403 1,345,406
1,369,190 1,368,713

CURRENT ASSETS
Stocks 214,678 208,362
Debtors 6 126,786 11,255
Cash at bank 12,062 143,109
353,526 362,726
CREDITORS
Amounts falling due within one year 7 (1,622,999 ) (1,649,601 )
NET CURRENT LIABILITIES (1,269,473 ) (1,286,875 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,717

81,838

CREDITORS
Amounts falling due after more than one year 8 (46,499 ) (54,359 )

PROVISIONS FOR LIABILITIES 10 (3,719 ) (4,428 )
NET ASSETS 49,499 23,051

ZIA DEVELOPMENTS LTD (REGISTERED NUMBER: 10694301)

BALANCE SHEET - continued
31 March 2024

2024 2023
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 49,399 22,951
SHAREHOLDERS' FUNDS 49,499 23,051

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.

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 18 November 2024 and were signed on its behalf by:




S A Zia - Director



M Zia - Director


ZIA DEVELOPMENTS LTD (REGISTERED NUMBER: 10694301)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

ZIA Developments Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is represented by the invoiced sales of properties and services, excluding VAT, which are recognised when the properties are sold and services are provided.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% 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
Work in progress is calculated using the first-in, first-out method and includes purchase cost, legal fees & all renovation work in bringing properties to their present condition.

ZIA DEVELOPMENTS LTD (REGISTERED NUMBER: 10694301)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors, amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets, are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed in profit or loss.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including trade and other creditors, bank loans and accruals, are initially recognised at transaction price.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

ZIA DEVELOPMENTS LTD (REGISTERED NUMBER: 10694301)

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 34,464
Additions 2,265
At 31 March 2024 36,729
DEPRECIATION
At 1 April 2023 11,157
Charge for year 6,785
At 31 March 2024 17,942
NET BOOK VALUE
At 31 March 2024 18,787
At 31 March 2023 23,307

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,345,406
Additions 4,997
At 31 March 2024 1,350,403
NET BOOK VALUE
At 31 March 2024 1,350,403
At 31 March 2023 1,345,406

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 1,350,403

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

2024 2023
£    £   
Cost 1,350,403 1,345,406

Investment property was valued on an open market basis on 31 March 2024 by the directors .

ZIA DEVELOPMENTS LTD (REGISTERED NUMBER: 10694301)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,584 -
Amounts owed by associates 106,400 -
Other debtors 4,802 11,255
126,786 11,255

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,555 5,556
Trade creditors 10,343 9,832
Taxation and social security 12,249 42,639
Other creditors 1,594,852 1,591,574
1,622,999 1,649,601

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 29,631 35,186
Other creditors 16,868 19,173
46,499 54,359

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 7,408 12,963

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 35,186 40,742

Secured debts represents assistance received under the Bounce Back loan scheme granted by the Government.

ZIA DEVELOPMENTS LTD (REGISTERED NUMBER: 10694301)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,719 4,428

Deferred
tax
£   
Balance at 1 April 2023 4,428
Credit to Income Statement during year (709 )
Balance at 31 March 2024 3,719

11. RELATED PARTY DISCLOSURES

Loans owing to the directors on an interest free basis of £1,549,267 (2023: £1,588,972) were outstanding at the year end. Loans will be repaid when funds permit.