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Registration number: 03434923

Prepared for the registrar

Zota Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Zota Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 11

 

Zota Limited

Company Information

Director

N D J Moffatt

Company secretary

N D J Moffatt

Registered office

Unit B
Meadow Road
Cirencester
Gloucestershire
GL7 1YA

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

Zota Limited

(Registration number: 03434923)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,114,842

862,143

Investment property

5

2,510,622

1,962,392

Other financial assets

6

276,937

239,037

 

3,902,401

3,063,572

Current assets

 

Debtors

7

1,939,322

1,238,566

Cash at bank and in hand

 

851,853

1,196,922

 

2,791,175

2,435,488

Creditors: Amounts falling due within one year

8

(2,414,762)

(1,607,139)

Net current assets

 

376,413

828,349

Total assets less current liabilities

 

4,278,814

3,891,921

Creditors: Amounts falling due after more than one year

8

(1,329,211)

(1,264,000)

Provisions

10

(100,000)

(20,000)

Deferred tax liabilities

11

(258,743)

(228,659)

Provisions for liabilities

(358,743)

(248,659)

Net assets

 

2,590,860

2,379,262

Capital and reserves

 

Called up share capital

333,078

333,078

Retained earnings

2,257,782

2,046,184

Shareholders' funds

 

2,590,860

2,379,262

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 May 2025
 


N D J Moffatt
Company secretary and director

 

Zota Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit B
Meadow Road
Cirencester
Gloucestershire
GL7 1YA

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Development costs

Development costs are expensed in the period in which they are incurred, unless they meet the criteria of internally generated intangible assets.

Critical accounting 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 amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

 

Zota Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. Stage of completion is measured by a surveys of work performed at the balance sheet date. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable. Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred corporation tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred corporation tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

at varying rates reducing balance

Plant and machinery

at varying rates reducing balance

Office equipment

25% reducing balance

Motor vehicles

20% reducing balance

Computer equipment

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Zota Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

Zota Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Zota Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 37 (2023 - 30).

 

Zota Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

4

Tangible assets

Land and buildings
£

Plant and Machinery
£

Office Equipment
£

Motor vehicles
 £

IT Equipment
 £

Total
£

Cost

At 1 October 2023

854,309

340,682

14,683

199,473

43,708

1,452,855

Additions

-

71,250

1,147

299,239

13,891

385,527

Disposals

-

(10,856)

(1,483)

(40,692)

(4,809)

(57,840)

At 30 September 2024

854,309

401,076

14,347

458,020

52,790

1,780,542

Depreciation

At 1 October 2023

180,616

239,406

10,718

129,235

30,737

590,712

Charge for the year

35,394

34,918

1,075

53,975

4,927

130,289

Eliminated on disposal

-

(9,427)

(1,214)

(40,692)

(3,968)

(55,301)

At 30 September 2024

216,010

264,897

10,579

142,518

31,696

665,700

Carrying amount

At 30 September 2024

638,299

136,179

3,768

315,502

21,094

1,114,842

At 30 September 2023

673,693

101,276

3,965

70,238

12,971

862,143

 

Zota Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

5

Investment properties

£

At 1 October 2023

1,962,392

Additions

548,230

At 30 September 2024

2,510,622

The investment properties have been valued by an independent valuer.

 

6

Other financial assets

Financial assets at fair value through profit and loss
£

Valuation

At 1 October 2023

239,037

Revaluations

37,900

At 30 September 2024

276,937

Carrying amount

At 30 September 2024

276,937

At 30 September 2023

239,037

 

7

Debtors

Note

2024
 £

2023
 £

Trade debtors

 

1,586,073

713,903

Amounts owed by related parties

647

-

Other debtors

 

223

2,686

Prepayments

 

95,081

86,746

Gross amount due from customers for contract work

 

195,599

435,231

Corporation tax asset

61,699

-

   

1,939,322

1,238,566

 

Zota Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

64,111

48,302

Trade creditors

 

936,452

680,168

Taxation and social security

 

471,725

396,679

Accruals and deferred income

 

178,946

177,547

Other creditors

 

763,528

304,443

 

2,414,762

1,607,139

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

829,211

1,099,000

Other non-current financial liabilities

 

500,000

165,000

 

1,329,211

1,264,000

 

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

47,000

47,000

Hire purchase contracts

17,063

1,297

Other borrowings

48

5

64,111

48,302

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

717,000

1,099,000

Hire purchase contracts

112,211

-

829,211

1,099,000

 

Zota Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

 

10

Provisions

Provisions for defects on contract jobs
£

At 1 October 2023

20,000

Increase in existing provisions

80,000

At 30 September 2024

100,000

 

11

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Fixed asset timing differences

299,183

Short term timing differences

(25,575)

Losses and other deductions

(14,865)

258,743

2023

Liability
£

Fixed asset timing differences

248,955

Short term timing differences

(5,431)

Losses and other deductions

(14,865)

228,659

 

12

Reserves

Included within retained earnings are non distributable investment property revaluation reserves of £477,368 (2023 - £477,368).

 

13

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £303 (2023 - £3,934). Of this amount, £303 (2023 - £3,631) is due within one year and £Nil (2023 - £303) is due in more than one year.