Silverfin false false 31/03/2024 01/04/2023 31/03/2024 J Hance 31/01/2000 28 March 2025 The principal activity of the company is property development and property investments. 03873200 2024-03-31 03873200 bus:Director1 2024-03-31 03873200 2023-03-31 03873200 core:CurrentFinancialInstruments 2024-03-31 03873200 core:CurrentFinancialInstruments 2023-03-31 03873200 core:ShareCapital 2024-03-31 03873200 core:ShareCapital 2023-03-31 03873200 core:RetainedEarningsAccumulatedLosses 2024-03-31 03873200 core:RetainedEarningsAccumulatedLosses 2023-03-31 03873200 core:OtherPropertyPlantEquipment 2023-03-31 03873200 core:OtherPropertyPlantEquipment 2024-03-31 03873200 2023-04-01 2024-03-31 03873200 bus:FilletedAccounts 2023-04-01 2024-03-31 03873200 bus:SmallEntities 2023-04-01 2024-03-31 03873200 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03873200 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03873200 bus:Director1 2023-04-01 2024-03-31 03873200 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 03873200 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 03873200 (England and Wales)

ZERO DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

ZERO DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

ZERO DEVELOPMENTS LIMITED

BALANCE SHEET

As at 31 March 2024
ZERO DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 151 201
151 201
Current assets
Stocks 4 647,253 647,253
Debtors 5 217,762 0
Cash at bank and in hand 6 102,652 458,598
967,667 1,105,851
Creditors: amounts falling due within one year 7 ( 92,023) ( 227,709)
Net current assets 875,644 878,142
Total assets less current liabilities 875,795 878,343
Net assets 875,795 878,343
Capital and reserves
Called-up share capital 2 2
Profit and loss account 875,793 878,341
Total shareholder's funds 875,795 878,343

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Zero Developments Limited (registered number: 03873200) were approved and authorised for issue by the Director on 28 March 2025. They were signed on its behalf by:

J Hance
Director
ZERO DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
ZERO DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Zero Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises the purchase price of properties and when applicable , development costs and legal fees.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 15,000 15,000
At 31 March 2024 15,000 15,000
Accumulated depreciation
At 01 April 2023 14,799 14,799
Charge for the financial year 50 50
At 31 March 2024 14,849 14,849
Net book value
At 31 March 2024 151 151
At 31 March 2023 201 201

4. Stocks

2024 2023
£ £
Stocks 647,253 647,253

5. Debtors

2024 2023
£ £
Other debtors 217,762 0

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 102,652 458,598

7. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 39,341 38,073
Other creditors 52,682 189,636
92,023 227,709

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

Transactions with the entity's director

2024 2023
£ £
Director's Loan Account (217,767) 133,464

The overdrawn director's loan account was repaid within 9 months of the year end.

During the year company had entered into transactions with entities over which the company has control, joint control or significant influence. Amounts due to related parties £44,117 (2023: £50,000).