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REGISTERED NUMBER: 06447512 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

ZULLO HOLDINGS LTD

ZULLO HOLDINGS LTD (REGISTERED NUMBER: 06447512)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ZULLO HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: S Zullo
L R Zullo





REGISTERED OFFICE: Unit 12, Fairway Industrial Centre
Golf Course Lane
Filton
Bristol
BS34 7QS





REGISTERED NUMBER: 06447512 (England and Wales)





ACCOUNTANTS: Lawes & Co
Boyce's Building
40-42 Regent Street
Clifton
Bristol
BS8 4HU

ZULLO HOLDINGS LTD (REGISTERED NUMBER: 06447512)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 132
Investment property 5 2,788,000 1,700,000
2,788,000 1,700,132

CURRENT ASSETS
Debtors 6 9,577 5,885
Cash at bank 3,973 206,789
13,550 212,674
CREDITORS
Amounts falling due within one year 7 1,159,558 586,336
NET CURRENT LIABILITIES (1,146,008 ) (373,662 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,641,992

1,326,470

CREDITORS
Amounts falling due after more than
one year

8

(1,063,263

)

(808,717

)

PROVISIONS FOR LIABILITIES 11 (100,962 ) (70,418 )
NET ASSETS 477,767 447,335

ZULLO HOLDINGS LTD (REGISTERED NUMBER: 06447512)

BALANCE SHEET - continued
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings 477,765 447,333
SHAREHOLDERS' FUNDS 477,767 447,335

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





S Zullo - Director


ZULLO HOLDINGS LTD (REGISTERED NUMBER: 06447512)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Zullo Holdings Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

ZULLO HOLDINGS LTD (REGISTERED NUMBER: 06447512)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2023
and 30 September 2024 1,665
DEPRECIATION
At 1 October 2023 1,533
Charge for year 132
At 30 September 2024 1,665
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 132

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 1,700,000
Additions 1,135,580
Disposals (70,000 )
Revaluations 22,420
At 30 September 2024 2,788,000
NET BOOK VALUE
At 30 September 2024 2,788,000
At 30 September 2023 1,700,000

ZULLO HOLDINGS LTD (REGISTERED NUMBER: 06447512)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2020 77,170
Valuation in 2021 126,145
Valuation in 2022 133,585
Valuation in 2023 67,354
Valuation in 2024 22,420
Cost 2,361,326
2,788,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 9,577 5,885

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts (see note 9)
3,826

9,480
Tax 11,398 3,557
Other creditors 614,033 54,931
Directors' current accounts 515,450 515,451
Accrued expenses 14,851 2,917
1,159,558 586,336

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans (see note 9) 1,063,263 808,717

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,047,962 792,685

ZULLO HOLDINGS LTD (REGISTERED NUMBER: 06447512)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 3,826 9,480

Amounts falling due between one and two years:
Bank loans - 1-2 years 3,825 4,008

Amounts falling due between two and five years:
Bank loans - 2-5 years 11,476 12,024

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,047,962 792,685

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 1,067,089 818,197

The bank loans are secured against the investment property owned by the company.

11. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax
Accelerated capital allowances - 61
Other timing differences 100,962 70,357
100,962 70,418

ZULLO HOLDINGS LTD (REGISTERED NUMBER: 06447512)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2023 70,418
Reversal of timing differences (61 )
Tax on revaluation 30,605
Balance at 30 September 2024 100,962

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
2 Ordinary £1 2 2

13. RELATED PARTY DISCLOSURES

The company maintains an interest free loan account with a director. At the balance sheet date, the company owed a director £515,450 (2023: £515,450).

At the balance sheet date, the company owed Complete Carpentry Contractors Limited £597,418 (2023: £40,046), a company controlled by the directors.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is considered to be S Zullo.