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Registration number: 10463350

Zabriskie Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Zabriskie Property Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Zabriskie Property Limited

Company Information

Directors

Dr A Thomson

Mrs JD Thomson

Registered office

Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

Zabriskie Property Limited

(Registration number: 10463350)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

167

273

Investment property

5

528,936

508,018

 

529,103

508,291

Current assets

 

Debtors

6

229,378

148,914

Cash at bank and in hand

 

19,683

13,571

 

249,061

162,485

Creditors: Amounts falling due within one year

7

(436,312)

(291,551)

Net current liabilities

 

(187,251)

(129,066)

Total assets less current liabilities

 

341,852

379,225

Creditors: Amounts falling due after more than one year

7

(291,998)

(291,998)

Provisions for liabilities

(21,076)

(21,076)

Net assets

 

28,778

66,151

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

28,776

66,149

Shareholders' funds

 

28,778

66,151

 

Zabriskie Property Limited

(Registration number: 10463350)
Balance Sheet as at 30 November 2023

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 October 2024 and signed on its behalf by:
 

.........................................
Dr A Thomson
Director

.........................................
Mrs JD Thomson
Director

 

Zabriskie Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A
- 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Zabriskie Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

20% Straight line

Investment property

Investment property is shown at the most recent valuation, which the directors deem to be its fair value. Any agregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Zabriskie Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 December 2022

7,122

7,122

At 30 November 2023

7,122

7,122

Depreciation

At 1 December 2022

6,849

6,849

Charge for the year

106

106

At 30 November 2023

6,955

6,955

Carrying amount

At 30 November 2023

167

167

At 30 November 2022

273

273

5

Investment properties

2023
£

At 1 December

508,018

Additions

20,918

At 30 November

528,936

6

Debtors

Current

2023
£

2022
£

Trade debtors

1,575

-

Other debtors

227,803

148,914

 

229,378

148,914

 

Zabriskie Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

40,000

40,000

Accruals and deferred income

 

1,920

1,680

Other creditors

 

394,392

249,871

 

436,312

291,551

 

Zabriskie Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

Ordinary A share of £1 each

1

1

1

1

2

2

2

2

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

283,998

283,998

Other borrowings

8,000

8,000

291,998

291,998

Current loans and borrowings

2023
£

2022
£

Bank borrowings

40,000

40,000

10

Related party transactions

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Transactions with directors

-

77,182

(104,888)

(27,706)

 

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Transactions with directors

(23,008)

50,322

(27,314)

-