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Registration number: 04196746

Zotami Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Zotami Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Zotami Ltd

Company Information

Directors

Mr M S Kaye

Mrs S Kaye

Mr G Kaye

Company secretary

Mr G Kaye

Registered office

75 Southway
Hampstead Garden Suburb
London
NW11 6SB

Registered number

04196746

Accountants

Ripe LLP
Chartered Accountants9A Burroughs Gardens
London
NW4 4AU

 

Zotami Ltd

(Registration number: 04196746)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

510,000

510,000

Current assets

 

Debtors

5

952

188

Cash at bank and in hand

 

6,353

2,643

 

7,305

2,831

Creditors: Amounts falling due within one year

6

(41,776)

(41,200)

Net current liabilities

 

(34,471)

(38,369)

Total assets less current liabilities

 

475,529

471,631

Creditors: Amounts falling due after more than one year

6

(208,015)

(208,015)

Provisions for liabilities

(15,200)

(15,200)

Net assets

 

252,314

248,416

Capital and reserves

 

Called up share capital

7

4

4

Retained earnings

252,310

248,412

Shareholders' funds

 

252,314

248,416

 

Zotami Ltd

(Registration number: 04196746)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 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 and 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 14 March 2025 and signed on its behalf by:
 

.........................................
Mr G Kaye
Company secretary and director

 

Zotami Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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:
75 Southway
Hampstead Garden Suburb
London
NW11 6SB

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 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 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.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

Revenue recognition

Turnover comprises of rental income. Turnover is shown net of 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The directors use observable market prices, adjusted if necessary for the specific asset. Changes in fair value are recognised in profit or loss.

 

Zotami Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Zotami Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Investment properties

2024
£

At 1 May

510,000

At 30 April

510,000

The investment property was subject to valuation by director, Mr G Kaye, who deemed £510,000 to be an accurate fair value of the property at the year end based on the market value of the surrounding properties.

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

5

Debtors

Current

2024
£

2023
£

Prepayments

952

188

 

952

188

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

1,776

1,500

Accruals and deferred income

1,800

1,500

Other creditors

38,200

38,200

41,776

41,200

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

8

208,015

208,015

 

Zotami Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

4

4

4

4

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

208,015

208,015

Bank borrowings

The mortgage from Engage Credit is repayable on 30 September 2026. The carrying amount at year end is £208,015 (2023 - £208,015).

The loan is secured by a legal charge over the company's investment property.

9

Related party transactions

As at year end, the company owed £38,200 (2023: £38,200) to Mr G Kaye, a director of the company. The loan amount is repayable on demand and there is no interest charged by the director to the company.