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REGISTERED NUMBER: 05355029 (England and Wales)















ZELLTEC CONSTRUCTION SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






ZELLTEC CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 05355029)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ZELLTEC CONSTRUCTION SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr B P M Bacon
Mr P A Cedron





REGISTERED OFFICE: Unit 3, Polaris Centre
41 Brownfields
Welwyn Garden City
Hertfordshire
AL7 1AN





REGISTERED NUMBER: 05355029 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

ZELLTEC CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 05355029)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 55,516 26,778
Investments 5 16,000 16,000
Investment property 6 1,935,000 1,935,000
2,006,516 1,977,778

CURRENT ASSETS
Stocks 12,350 12,350
Debtors 7 5,478,475 4,950,454
Cash at bank and in hand 821,759 264,040
6,312,584 5,226,844
CREDITORS
Amounts falling due within one year 8 3,092,652 2,429,558
NET CURRENT ASSETS 3,219,932 2,797,286
TOTAL ASSETS LESS CURRENT LIABILITIES 5,226,448 4,775,064

CREDITORS
Amounts falling due after more than one year 9 (424,508 ) (470,857 )

PROVISIONS FOR LIABILITIES (192,759 ) (185,574 )
NET ASSETS 4,609,181 4,118,633

CAPITAL AND RESERVES
Called up share capital 11 450 450
Fair value reserve 12 575,242 575,242
Retained earnings 4,033,489 3,542,941
SHAREHOLDERS' FUNDS 4,609,181 4,118,633

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ZELLTEC CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 05355029)

BALANCE SHEET - continued
31 MAY 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:




Mr P A Cedron - Director



Mr B P M Bacon - Director


ZELLTEC CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 05355029)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Zelltec Construction Services Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation and functional currency of the financial statements is Pound Sterling (£) and amounts are rounded to the nearest pound.

The comparative information represents the results of the company for the period 1 March 2020 to 31 May 2021

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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

In respect of long-term contracts and contracts for on-going services, turnover represents the total value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

ZELLTEC CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 05355029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

ZELLTEC CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 05355029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 54,736 38,656 107,312 8,179 208,883
Additions 42,018 - 4,775 1,211 48,004
Disposals - - (3,884 ) - (3,884 )
At 31 May 2024 96,754 38,656 108,203 9,390 253,003
DEPRECIATION
At 1 June 2023 42,045 38,656 96,361 5,043 182,105
Charge for year 14,112 - 3,693 1,461 19,266
Eliminated on disposal - - (3,884 ) - (3,884 )
At 31 May 2024 56,157 38,656 96,170 6,504 197,487
NET BOOK VALUE
At 31 May 2024 40,597 - 12,033 2,886 55,516
At 31 May 2023 12,691 - 10,951 3,136 26,778

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Woodman Chapmore Limited 16,000 16,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 1,935,000
NET BOOK VALUE
At 31 May 2024 1,935,000
At 31 May 2023 1,935,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2022 747,475
Valuation in 2023 (15,394 )
Cost 1,202,919
1,935,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 518,875 767,750
Other debtors 4,959,600 4,182,704
5,478,475 4,950,454

ZELLTEC CONSTRUCTION SERVICES LIMITED (REGISTERED NUMBER: 05355029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 68,751 68,751
Hire purchase contracts 3,488 3,488
Trade creditors 923,014 1,128,679
Taxation and social security 735,490 792,784
Other creditors 1,361,909 435,856
3,092,652 2,429,558

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 421,602 464,463
Hire purchase contracts 2,906 6,394
424,508 470,857

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 177,982 189,458
Hire purchase 2,906 6,394
180,888 195,852

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 490,353 533,214

Bank loans and overdrafts are secured by a fixed charge on Freehold property and a floating charge over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
450 Ordinary £1 450 450

12. RESERVES
Fair
value
reserve
£   
At 1 June 2023
and 31 May 2024 575,242

13. RELATED PARTY DISCLOSURES

Included in Other debtors is an amount of £2,640,041 (2023 : £2,515,619) owed from a related company. They are related by virtue of common directorships and shareholders.