Company registration number 09994936 (England and Wales)
ZFA ACCOMMODATION LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
ZFA ACCOMMODATION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
ZFA ACCOMMODATION LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
212,138
27,630
Current assets
Debtors
5
775,993
959,592
Cash at bank and in hand
434,731
2,271
1,210,724
961,863
Creditors: amounts falling due within one year
6
(699,323)
(509,559)
Net current assets
511,401
452,304
Total assets less current liabilities
723,539
479,934
Creditors: amounts falling due after more than one year
7
(126,639)
(180,665)
Provisions for liabilities
(1,573)
(6,908)
Net assets
595,327
292,361
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
595,227
292,261
Total equity
595,327
292,361

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 27 May 2025 and are signed on its behalf by:
Mr A H Anwar
Director
Company registration number 09994936 (England and Wales)
ZFA ACCOMMODATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

ZFA Accommodation Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7 Anderson Road, Woodford Green, England IG8 8ET.

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.

 

The financial statements of the company are consolidated in the financial statements of ZFA Group Limited. These consolidated financial statements are available from its registered office Unit 7 Anderson Road, Woodford Green, England IG8 8ET.

1.2
Turnover

Turnover represents rental income and commission receivable and is recognised in the profit and loss account in the period it relates to.

 

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

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.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
5% on straight line basis
Motor vehicles
15% on straight line basis

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
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
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.

ZFA ACCOMMODATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
1.6
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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases
As lessee

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.

ZFA ACCOMMODATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Useful life of tangible fixed assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 1.3 for rate of depreciation used and note 4 for the carrying amount of these assets.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
9
2
4
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 June 2023
35,841
-
0
35,841
Additions
-
0
219,177
219,177
At 31 May 2024
35,841
219,177
255,018
Depreciation and impairment
At 1 June 2023
8,211
-
0
8,211
Depreciation charged in the year
1,792
32,877
34,669
At 31 May 2024
10,003
32,877
42,880
Carrying amount
At 31 May 2024
25,838
186,300
212,138
At 31 May 2023
27,630
-
0
27,630
ZFA ACCOMMODATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
717,452
856,913
Amounts owed by group undertakings
-
0
44,138
Other debtors
58,541
58,541
775,993
959,592
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
54,266
49,140
Amounts owed to group undertakings
137,431
-
0
Corporation tax
202,029
90,513
Other taxation and social security
275,008
56,824
Other creditors
30,589
313,082
699,323
509,559
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
126,639
180,665

On 18 October 2021, the company obtained a loan facility of £250,000, repayable over 72 months. The loan carries a fixed interest rate of 11.00% per annum and is being repaid in equal monthly instalments comprising both principal and interest.

 

As at the balance sheet date, the outstanding loan balance was as follows:

 

 

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report was unqualified
Senior Statutory Auditor:
Ghulam Alahi
Statutory Auditor:
Vision Consulting Accountants Limited
Date of audit report:
27 May 2025
ZFA ACCOMMODATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitments
300,643
-
0
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