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REGISTERED NUMBER: SC232508 (Scotland)















Unaudited Financial Statements For The Year Ended 30 June 2024

for

Z1 PROPERTIES LIMITED

Z1 PROPERTIES LIMITED (Registered number: SC232508)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Z1 PROPERTIES LIMITED

Company Information
For The Year Ended 30 June 2024







DIRECTOR: A Ali





SECRETARY: N Akhtar





REGISTERED OFFICE: 38 westcroft Court
Livingston
West Lothian
EH54 7EW





REGISTERED NUMBER: SC232508 (Scotland)





ACCOUNTANTS: Ahmad & Nabi Mcmullan
95-107 Lancefield Street
Glasgow
Lanarkshire
G3 8HZ

Z1 PROPERTIES LIMITED (Registered number: SC232508)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 100 100
Investment property 5 9,284,796 8,900,000
9,284,896 8,900,100

CURRENT ASSETS
Debtors 6 12,020 12,020
Cash at bank 372,664 544,324
384,684 556,344
CREDITORS
Amounts falling due within one year 7 2,005,892 1,816,778
NET CURRENT LIABILITIES (1,621,208 ) (1,260,434 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,663,688

7,639,666

CREDITORS
Amounts falling due after more than one
year

8

3,580,799

3,690,582
NET ASSETS 4,082,889 3,949,084

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 3,163,303 3,163,303
Retained earnings 10 919,486 785,681
SHAREHOLDERS' FUNDS 4,082,889 3,949,084

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Z1 PROPERTIES LIMITED (Registered number: SC232508)

Balance Sheet - continued
30 June 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 by the director and authorised for issue on 20 March 2025 and were signed by:





A Ali - Director


Z1 PROPERTIES LIMITED (Registered number: SC232508)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

Z1 PROPERTIES LIMITED is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

Z1 PROPERTIES LIMITED (Registered number: SC232508)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 868,551
PROVISIONS
At 1 July 2023
and 30 June 2024 868,451
NET BOOK VALUE
At 30 June 2024 100
At 30 June 2023 100

Fixed asset investment represents the share capital of YAU'S Investments Ltd, company number SC251469. YAU'S Investments Ltd's investment property was transferred to Z1 Properties Ltd during the year hence the value of its shares are deemed to be £100 which represents its 100 ordinary shares at £1.00 each share.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 8,900,000
Additions 384,796
At 30 June 2024 9,284,796
NET BOOK VALUE
At 30 June 2024 9,284,796
At 30 June 2023 8,900,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 9,284,796

Valuations were conducted by Lambert Smith in November 2022 for properties held at that date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 9,020 9,020
Global Foods 3,000 3,000
12,020 12,020

Z1 PROPERTIES LIMITED (Registered number: SC232508)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 80,000 80,000
Other loans 79,500 79,500
Trade creditors 53,000 -
Tax 52,340 77,173
Social security and other taxes 77 1,414
VAT 23,744 22,775
Rent deposits 175,637 108,534
Directors' current accounts 1,452,749 1,367,154
Accrued expenses 7,925 28,778
Rent in advance 80,920 51,450
2,005,892 1,816,778

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans outwith 1 year 3,580,799 3,690,582

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1.00 100 100

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2023 785,681 3,163,303 3,948,984
Profit for the year 133,805 133,805
At 30 June 2024 919,486 3,163,303 4,082,789

11. ULTIMATE CONTROLLING PARTY

The controlling party is A Ali.