Registered number
05974515
New Zone Property Limited
Unaudited Filleted Accounts
31 March 2025
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
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