Company registration number 11465911 (England and Wales)
ZINC PROPERTY INVESTMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
ZINC PROPERTY INVESTMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ZINC PROPERTY INVESTMENT LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
677,094
-
0
Current assets
Debtors
4
123,693
-
0
Cash at bank and in hand
204,934
-
0
328,627
-
0
Creditors: amounts falling due within one year
5
(16,671)
(94)
Net current assets/(liabilities)
311,956
(94)
Total assets less current liabilities
989,050
(94)
Creditors: amounts falling due after more than one year
6
(1,000,527)
-
0
Net liabilities
(11,477)
(94)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(11,577)
(194)
Total equity
(11,477)
(94)

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 23 April 2025 and are signed on its behalf by:
..............................................
E Price
Director
Company registration number 11465911 (England and Wales)
ZINC PROPERTY INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

Zinc Property Investment Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3 Bordesley Hall Farm Barns, Storrage Lane, Alvechurch, B48 7ES. The company registration number is 11465911.

1.1
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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

1.2
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.

 

1.3
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.

Assets in the course of construction are not depreciated.

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.

1.4
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.

1.5
Financial instruments
Basic financial assets

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Basic financial liabilities

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest method. Loans and borrowings that are receivable within one year are not discounted. If an arrangement constitutes a finance transaction it is measured at present value of future payments discounted at a market rate of interest for a similar loan.

1.6
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.

ZINC PROPERTY INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
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
Employees

The company has no employees other than the directors.

3
Tangible fixed assets
Assets under construction
£
Cost
At 1 August 2023
-
0
Additions
677,094
At 31 July 2024
677,094
Depreciation and impairment
At 1 August 2023 and 31 July 2024
-
0
Carrying amount
At 31 July 2024
677,094
At 31 July 2023
-
0
ZINC PROPERTY INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
122,833
-
0
Prepayments and accrued income
860
-
0
123,693
-
0
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,477
-
0
Other creditors
14,194
94
16,671
94

Included within other creditors is a balance owing of £14,194 (2023 - £94) to a director of the company. This loan is interest free and repayable on demand.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,000,527
-
0

The bank loan facility is being used to assist the company with funding the costs associated with the development of the leasehold property. The facility is secured by a fixed and floating charge over the assets of the company. The directors have also given a personal guarantee to the bank for an amount of £591,000. The bank loan is repayable on 14 December 2025.

7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
100 (2023: 100) Ordinary shares of £1 each
100
100
8
Reserves

Profit and loss account

This reserve records all current and prior period retained profits and losses.

9
Financial commitments, guarantees and contingent liabilities

At 31 July 2024, the Company had future minimum lease payments due under non-cancellable operating leases totalling £592,000 (2023 - £nil).

ZINC PROPERTY INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
10
Related party transactions

During the year, the company incurred costs of £607,500 (2023 - £nil) from a company in which a director has a participating interest. As at the balance sheet date, the company owed the related party £nil (2023 - £nil).

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