ZL Notting Hill Limited
Unaudited Financial Statements
For the period ended 30 April 2024
Pages for Filing with Registrar
Company Registration No. 14995893 (England and Wales)
ZL Notting Hill Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
ZL Notting Hill Limited
Balance Sheet
As at 30 April 2024
Page 1
2024
Notes
£
£
Fixed assets
Tangible assets
2
645,703
Current assets
Debtors
3
257,666
Cash at bank and in hand
174,247
431,913
Creditors: amounts falling due within one year
4
(1,153,177)
Net current liabilities
(721,264)
Net liabilities
(75,561)
Capital and reserves
Called up share capital
5
1
Profit and loss reserves
(75,562)
Total equity
(75,561)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 27 January 2025 and are signed on its behalf by:
Z N Paskin
Director
Company Registration No. 14995893
ZL Notting Hill Limited
Statement of Changes in Equity
For the period ended 30 April 2024
Page 2
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 11 July 2023
-
0
-
0
-
Period ended 30 April 2024:
Loss and total comprehensive income for the period
-
(75,562)
(75,562)
Issue of share capital
5
1
-
1
Balance at 30 April 2024
1
(75,562)
(75,561)
ZL Notting Hill Limited
Notes to the Financial Statements
For the period ended 30 April 2024
Page 3
1
Accounting policies
Company information

ZL Notting Hill Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, United Kingdom, EC2A 2AP.

1.1
Reporting period

The current financial statements are presented for a period shorter than one year, due to the company being incorporated on 11 July 2023. Therefore, no comparatives are there in the financial statements presented.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the term of the lease
Fixtures and fittings
25% straight line method

Where an asset is purchased, depreciation commences only on the first full month of use.

 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ZL Notting Hill Limited
Notes to the Financial Statements (Continued)
For the period ended 30 April 2024
1
Accounting policies
(Continued)
Page 4
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 11 July 2023
-
0
-
0
-
0
Additions
511,039
134,664
645,703
At 30 April 2024
511,039
134,664
645,703
Depreciation and impairment
At 11 July 2023 and 30 April 2024
-
0
-
0
-
0
Carrying amount
At 30 April 2024
511,039
134,664
645,703
ZL Notting Hill Limited
Notes to the Financial Statements (Continued)
For the period ended 30 April 2024
Page 5
3
Debtors
2024
Amounts falling due within one year:
£
Other debtors
70,166
2024
Amounts falling due after more than one year:
£
Other debtors
187,500
Total debtors
257,666
4
Creditors: amounts falling due within one year
2024
£
Trade creditors
401,852
Amounts owed to group undertakings
716,344
Accruals and deferred income
34,981
1,153,177
5
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and not fully paid
Ordinary shares of £1 each
1
1
6
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
£
Within one year
208,333
Between two and five years
1,000,000
In over five years
2,479,167
3,687,500
ZL Notting Hill Limited
Notes to the Financial Statements (Continued)
For the period ended 30 April 2024
Page 6
7
Capital commitments

In addition to the £646k capitalised during the year, the company has contracted for further works to be performed for £400k post year-end.

8
Related party transactions

During the year, the company entered into the following transactions with related parties:

 

Included in the creditors, at the balance sheet date, is an amount of £600,000 owed to ZLTB Holding Company Limited, a connected group entity.

 

Included in the creditors, at the balance sheet date, is an amount of £116,344 owed to ZLC 7Dials Limited, a connected group entity.

 

All balances are interest free, have no fixed repayment terms and are unsecured.

9
Controlling party

ZLTB Holding Company Limited considered controlling party by virtue of its shareholding.

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