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REGISTERED NUMBER: 03945913 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ZONCREST LIMITED

ZONCREST LIMITED (REGISTERED NUMBER: 03945913)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ZONCREST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: C Bard





REGISTERED OFFICE: 116 Bethune Road
London
N16 5DU





REGISTERED NUMBER: 03945913 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

ZONCREST LIMITED (REGISTERED NUMBER: 03945913)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 39 46
Investment property 6 961,384 961,384
961,423 961,430

CURRENT ASSETS
Debtors 7 293,800 293,800
Cash at bank 8,951 7,129
302,751 300,929
CREDITORS
Amounts falling due within one year 8 (221,783 ) (187,879 )
NET CURRENT ASSETS 80,968 113,050
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,042,391

1,074,480

CREDITORS
Amounts falling due after more than one
year

9

(584,928

)

(589,825

)

PROVISIONS FOR LIABILITIES (19,775 ) (19,775 )
NET ASSETS 437,688 464,880

CAPITAL AND RESERVES
Called up share capital 12 2 2
Revaluation reserve 13 287,741 287,741
Retained earnings 13 149,945 177,137
SHAREHOLDERS' FUNDS 437,688 464,880

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 director acknowledges his 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.

ZONCREST LIMITED (REGISTERED NUMBER: 03945913)

STATEMENT OF FINANCIAL POSITION - 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 and authorised for issue by the director and authorised for issue on 10 January 2025 and were signed by:





C Bard - Director


ZONCREST LIMITED (REGISTERED NUMBER: 03945913)

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

1. STATUTORY INFORMATION

Zoncrest 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, 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.
Fixtures and fittings - 25% on reducing balance

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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

ZONCREST LIMITED (REGISTERED NUMBER: 03945913)

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 5,263
DEPRECIATION
At 1 April 2023 5,217
Charge for year 7
At 31 March 2024 5,224
NET BOOK VALUE
At 31 March 2024 39
At 31 March 2023 46

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 961,384
NET BOOK VALUE
At 31 March 2024 961,384
At 31 March 2023 961,384

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 307,516
Cost 653,868
961,384

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 293,800 293,800

ZONCREST LIMITED (REGISTERED NUMBER: 03945913)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 9,399 -
Taxation and social security 37 -
Other creditors 212,347 187,879
221,783 187,879

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 10) 550,914 550,914
Other creditors 34,014 38,911
584,928 589,825

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 550,914 550,914

Other creditor includes Bounceback loan of £34,014 [2023 - £38,911]. The loan is unsecured, interest free for the first year and capped at 2.5% and guaranteed by HM Government.

10. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 34,014 38,911

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 550,914 550,914

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 550,914 550,914

Bank loans are secured by a first charge over company's investment property and bear interest at fixed rates.

ZONCREST LIMITED (REGISTERED NUMBER: 03945913)

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

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2

13. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 177,137 287,741 464,878
Deficit for the year (27,192 ) (27,192 )
At 31 March 2024 149,945 287,741 437,686