Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-08-01falsefalse1Buying and selling of own real estate1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11489817 2023-08-01 2024-07-31 11489817 2022-08-01 2023-07-31 11489817 2024-07-31 11489817 2023-07-31 11489817 c:Director1 2023-08-01 2024-07-31 11489817 d:FreeholdInvestmentProperty 2024-07-31 11489817 d:FreeholdInvestmentProperty 2023-07-31 11489817 d:CurrentFinancialInstruments 2024-07-31 11489817 d:CurrentFinancialInstruments 2023-07-31 11489817 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 11489817 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 11489817 d:ShareCapital 2024-07-31 11489817 d:ShareCapital 2023-07-31 11489817 d:RetainedEarningsAccumulatedLosses 2024-07-31 11489817 d:RetainedEarningsAccumulatedLosses 2023-07-31 11489817 c:FRS102 2023-08-01 2024-07-31 11489817 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 11489817 c:FullAccounts 2023-08-01 2024-07-31 11489817 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 11489817 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 11489817









ZAK PROPERTIES GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
ZAK PROPERTIES GROUP LIMITED
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ZAK PROPERTIES GROUP LIMITED
FOR THE YEAR ENDED 31 JULY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ZAK Properties Group Limited for the year ended 31 July 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of ZAK Properties Group Limited in accordance with the terms of our engagement letter dated 28 April 2025Our work has been undertaken solely to prepare for your approval the financial statements of ZAK Properties Group Limited and state those matters that we have agreed to state to the director of ZAK Properties Group Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ZAK Properties Group Limited and its director for our work or for this report. 

It is your duty to ensure that ZAK Properties Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of ZAK Properties Group Limited. You consider that ZAK Properties Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of ZAK Properties Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Fraser Russell Limited
 
77 Francis Road
Edgbaston
Birmingham
B16 8SP
29 April 2025
Page 1

 
ZAK PROPERTIES GROUP LIMITED
REGISTERED NUMBER: 11489817

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
  
1,420,249
1,420,249

  
1,420,249
1,420,249

Current assets
  

Cash at bank and in hand
  
12,240
12,389

  
12,240
12,389

Creditors: amounts falling due within one year
  
(1,554,211)
(1,531,333)

Net current liabilities
  
 
 
(1,541,971)
 
 
(1,518,944)

Total assets less current liabilities
  
(121,722)
(98,695)

  

Net liabilities
  
(121,722)
(98,695)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(121,822)
(98,795)

  
(121,722)
(98,695)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 April 2025.




Razak Hussain
Page 2

 
ZAK PROPERTIES GROUP LIMITED
REGISTERED NUMBER: 11489817
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
ZAK PROPERTIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

ZAK Properties Group Limitetd is a company limited by shares incorporated in England within the United Kingdom, having a registration of 11489817. The address of the registered office is 13 Riverside Studios Amethyst Road, Newcastle Business Park, Newcastle Upon Tyne, England, NE4 7YL
The financial statements are presented in sterling which is functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements has been prepared on a going concern basis which assumes that the company will continue to receive support from creditors and the director as and when required.

Page 4

 
ZAK PROPERTIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 5

 
ZAK PROPERTIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Number of employees
1
1


4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
1,420,249



At 31 July 2024
1,420,249

The 2024 valuations were made by [Enter surveyor name here...], on an open market value for existing use basis.



At 31 July 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:



Page 6

 
ZAK PROPERTIES GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
12,240
12,389

12,240
12,389



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
29,882
40,688

Other loans
1,270,657
1,264,133

Other creditors
253,672
226,067

Accruals and deferred income
-
445

1,554,211
1,531,333



7.


Related party transactions

Razak Hussain is the sole director and shareholder of Hanover Social Housing Ltd
During the year, the company provided loans of £25,337 to Hanover Social Housing Ltd. As at the balance sheet the company owed to Hanover Social Housing Ltd £29,337 (2023: £4,000) which is included in other creditors due within one year.
The above amounts are repayable by the company on demand and therefore there is no significant difference between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.


8.


Controlling party

During the year, the company was under the control of Razak Hussain, who is the sole director and shareholder of the company.

 
Page 7