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Registration number: 12053693

Zestments Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 June 2024

 

Zestments Ltd

Contents

Company Information

1

Director's Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Zestments Ltd

Company Information

Director

Z R Tanner

Registered office

7 Stone Street
Brighton
BN1 2HB

 

Zestments Ltd

Director's Report for the Year Ended 30 June 2024

The director presents her report and the abridged financial statements for the year ended 30 June 2024.

Director of the company

The director who held office during the year was as follows:

Z R Tanner

Principal activity

The principal activity of the company is that of property investment, management and letting.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 19 March 2025
 

.........................................
Z R Tanner
Director

 

Zestments Ltd

(Registration number: 12053693)
Abridged Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,619

-

Investment property

1,216,465

1,045,559

Other financial assets

5

30,000

30,000

 

1,255,084

1,075,559

Current assets

 

Cash at bank and in hand

 

1,302

6,013

Prepayments and accrued income

 

5,053

-

Creditors: Amounts falling due within one year

(432,387)

(342,452)

Net current liabilities

 

(426,032)

(336,439)

Total assets less current liabilities

 

829,052

739,120

Creditors: Amounts falling due after more than one year

(689,237)

(593,632)

Net assets

 

139,815

145,488

Capital and reserves

 

Called up share capital

1

1

Retained earnings

139,814

145,487

Shareholders' funds

 

139,815

145,488

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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.

 

Zestments Ltd

(Registration number: 12053693)
Abridged Balance Sheet as at 30 June 2024

All of the company’s members have consented to the preparation of an Abridged Balance Sheet and have elected to take the option not to file the Profit and Loss Account in accordance with Section 444 of the Companies Act 2006

Approved and authorised by the director on 19 March 2025
 

.........................................

Z R Tanner

Director

 

Zestments Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
7 Stone Street
Brighton
BN1 2HB
England

These financial statements were authorised for issue by the director on 19 March 2025.

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Zestments Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

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:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Zestments Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

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 the director) during the year, was 0 (2023 - 0).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

8,619

8,619

At 30 June 2024

8,619

8,619

Depreciation

Carrying amount

At 30 June 2024

8,619

8,619

Investment properties

2024
£

At 1 July

1,045,559

Additions

170,906

At 30 June

1,216,465

There has been no valuation of investment property by an independent valuer.

 

Zestments Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2023

30,000

30,000

At 30 June 2024

30,000

30,000

Impairment

Carrying amount

At 30 June 2024

30,000

30,000