Registered number
04873745
Zayan Properties Limited
Filleted Accounts
31 August 2024
Zayan Properties Limited
Registered number: 04873745
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,942 3,326
Investments 4 3,312,669 2,350,888
3,316,611 2,354,214
Current assets
Debtors 5 238,862 222,768
Cash at bank and in hand 398,154 392,909
637,016 615,677
Creditors: amounts falling due within one year 6 (1,049,441) (898,127)
Net current liabilities (412,425) (282,450)
Total assets less current liabilities 2,904,186 2,071,764
Creditors: amounts falling due after more than one year 7 (2,082,609) (1,418,210)
Provisions for liabilities - (632)
Net assets 821,577 652,922
Capital and reserves
Called up share capital 103 100
Profit and loss account 821,474 652,822
Shareholders' funds 821,577 652,922
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr B Chahal
Director
Approved by the board on 20 May 2025
Zayan Properties Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% straight line basis
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 21,421
Additions 1,915
At 31 August 2024 23,336
Depreciation
At 1 September 2023 18,095
Charge for the year 1,299
At 31 August 2024 19,394
Net book value
At 31 August 2024 3,942
At 31 August 2023 3,326
4 Investments
Other
investments
£
Cost
At 1 September 2023 2,350,888
Additions 961,781
At 31 August 2024 3,312,669
Historical cost
At 1 September 2023 2,175,238
At 31 August 2024 3,134,698
The investment properties were valued on an open market basis by the director.
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 218,792 218,792
Other debtors 20,070 3,976
238,862 222,768
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 27,000 22,500
Trade creditors 11,261 -
Taxation and social security costs 36,546 11,493
Other creditors 974,634 864,134
1,049,441 898,127
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,082,609 1,418,210
8 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 1,318,641 626,111
Instalments falling due for payment after more than five years 700,969 724,599
2,019,610 1,350,710
Secured bank loans 2,109,610 1,440,710
The bank loans are secured against the property titles to which they relate.
9 Related party transactions
Included with debtors is £218,792 (2023: £218,792) owed to the company by Mill Homes (Derby) Ltd, an associated undertaking. This loan is interest free and has no formal repayment terms.
10 Other information
Zayan Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Jessop House
Outrams Wharf
Little Eaton
Derbyshire
DE21 5EL
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