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Company No: 14361456 (England and Wales)

ZALA PROPERTY LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

ZALA PROPERTY LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

ZALA PROPERTY LTD

BALANCE SHEET

As at 30 September 2024
ZALA PROPERTY LTD

BALANCE SHEET (continued)

As at 30 September 2024
Note 30.09.2024 30.09.2023
£ £
Fixed assets
Tangible assets 3 1,568,202 1,575,906
1,568,202 1,575,906
Current assets
Debtors 4 9,284 11,144
Cash at bank and in hand 1,071 22,664
10,355 33,808
Creditors: amounts falling due within one year 5 ( 1,668,248) ( 1,670,264)
Net current liabilities (1,657,893) (1,636,456)
Total assets less current liabilities (89,691) (60,550)
Net liabilities ( 89,691) ( 60,550)
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account ( 89,693 ) ( 60,552 )
Total shareholders' deficit ( 89,691) ( 60,550)

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.

Directors' responsibilities:

The financial statements of Zala Property Ltd (registered number: 14361456) were approved and authorised for issue by the Board of Directors on 27 June 2025. They were signed on its behalf by:

Mr A D J Baber
Director
Mrs C Baber
Director
ZALA PROPERTY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
ZALA PROPERTY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Zala Property Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 Parchment Street, Winchester, SO23 8AT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £89,691. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 5 years straight line
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

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 the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

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. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
30.09.2024
Period from
16.09.2022 to
30.09.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 October 2023 1,540,518 918 41,820 1,583,256
Additions 0 0 918 918
At 30 September 2024 1,540,518 918 42,738 1,584,174
Accumulated depreciation
At 01 October 2023 0 144 7,206 7,350
Charge for the financial year 0 184 8,438 8,622
At 30 September 2024 0 328 15,644 15,972
Net book value
At 30 September 2024 1,540,518 590 27,094 1,568,202
At 30 September 2023 1,540,518 774 34,614 1,575,906

4. Debtors

30.09.2024 30.09.2023
£ £
Trade debtors 8,932 10,043
Other debtors 352 1,101
9,284 11,144

5. Creditors: amounts falling due within one year

30.09.2024 30.09.2023
£ £
Trade creditors 0 208
Other creditors 1,668,248 1,670,056
1,668,248 1,670,264

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

30.09.2024 30.09.2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2