New Zone Property Limited |
Registered number: |
05974515 |
Balance Sheet |
as at 31 March 2025 |
|
Notes |
|
|
2025 |
|
|
2024 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
342,000 |
|
|
342,000 |
|
Current assets |
Debtors |
4 |
|
138 |
|
|
133 |
Cash at bank and in hand |
|
|
2,277 |
|
|
890 |
|
|
|
2,415 |
|
|
1,023 |
|
Creditors: amounts falling due within one year |
5 |
|
(2,360) |
|
|
(1,780) |
|
Net current assets/(liabilities) |
|
|
|
55 |
|
|
(757) |
|
Total assets less current liabilities |
|
|
|
342,055 |
|
|
341,243 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(142,287) |
|
|
(143,136) |
|
Provisions for liabilities |
|
|
|
(25,558) |
|
|
(25,558) |
|
|
Net assets |
|
|
|
174,210 |
|
|
172,549 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Revaluation reserve |
7 |
|
|
141,366 |
|
|
141,366 |
Profit and loss account |
|
|
|
32,744 |
|
|
31,083 |
|
Shareholders' funds |
|
|
|
174,210 |
|
|
172,549 |
|
|
|
|
|
|
|
|
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. |
|
|
|
|
S Tomkinson |
Director |
Approved by the board on 27 June 2025 |
|
New Zone Property Limited |
Notes to the Accounts |
for the year ended 31 March 2025 |
|
|
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 and represents amounts receivable for rental income |
|
|
Tangible fixed assets |
|
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. |
|
|
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. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2025 |
|
2024 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
£ |
|
Cost |
|
At 1 April 2024 |
342,000 |
|
At 31 March 2025 |
342,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
342,000 |
|
At 31 March 2024 |
342,000 |
|
|
4 |
Debtors |
2025 |
|
2024 |
£ |
£ |
|
|
Other debtors |
138 |
|
133 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
£ |
£ |
|
|
Taxation and social security costs |
1,093 |
|
527 |
|
Other creditors |
1,267 |
|
1,253 |
|
|
|
|
|
|
2,360 |
|
1,780 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
£ |
£ |
|
|
Bank loans |
142,287 |
|
143,136 |
|
|
|
|
|
|
|
|
|
|
7 |
Revaluation reserve |
2025 |
|
2024 |
£ |
£ |
|
|
At 1 April 2024 |
141,366 |
|
138,366 |
|
Gain on revaluation of land and buildings |
- |
|
3,000 |
|
|
At 31 March 2025 |
141,366 |
|
141,366 |
|
|
|
|
|
|
|
|
|
|
8 |
Other information |
|
|
New Zone Property Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
101 Tyrone Road |
|
Thorpe Bay |
|
Southend on Sea |
|
Essex |
|
SS1 3HD |