| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2024 |
| FOR |
| ZARWAH SCARBROOK LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2024 |
| FOR |
| ZARWAH SCARBROOK LIMITED |
| ZARWAH SCARBROOK LIMITED (REGISTERED NUMBER: 12102211) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 July 2024 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ZARWAH SCARBROOK LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 July 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 19-20 Bourne Court |
| Southend Road |
| Woodford Green |
| Essex |
| IG8 8HD |
| ZARWAH SCARBROOK LIMITED (REGISTERED NUMBER: 12102211) |
| ABRIDGED BALANCE SHEET |
| 31 July 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his 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. |
| ZARWAH SCARBROOK LIMITED (REGISTERED NUMBER: 12102211) |
| ABRIDGED BALANCE SHEET - continued |
| 31 July 2024 |
| The financial statements were approved by the director and authorised for issue on |
| ZARWAH SCARBROOK LIMITED (REGISTERED NUMBER: 12102211) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 July 2024 |
| 1. | STATUTORY INFORMATION |
| Zarwah Scarbrook Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on the going concern basis as the director are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the director. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. |
| During the year, the company transferred some of its assets and liabilities to its subsidiary, Boulevard Point Limited, as part of a group restructuring. This transfer also included the sale of investment property with a carrying value (at cost) of £11,275,008. The transaction did not result in any gain or loss being recognised in the profit and loss statement. |
| 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. |
| ZARWAH SCARBROOK LIMITED (REGISTERED NUMBER: 12102211) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 July 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Short term debtors and creditors |
| Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
| Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | FIXED ASSET INVESTMENTS |
| Information on investments other than loans is as follows: |
| Totals |
| £ |
| COST |
| At 1 August 2023 | 75 |
| Additions | 75 |
| At 31 July 2024 | 150 |
| NET BOOK VALUE |
| At 31 July 2024 | 150 |
| At 31 July 2023 | 75 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 August 2023 |
| Additions |
| Disposals | ( |
) |
| At 31 July 2024 |
| NET BOOK VALUE |
| At 31 July 2024 |
| At 31 July 2023 |
| ZARWAH SCARBROOK LIMITED (REGISTERED NUMBER: 12102211) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 July 2024 |
| 6. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| In the previous reporting period, the bank loans were secured by way of a fixed and floating charge, as well as a negative pledge against the properties of the company. Also at the previous reporting date, included within other creditors were loans from non-financial institutions which were also secured by way of a fixed and floating charge, as well as a negative pledge against the properties of the company. |
| 7. | OTHER FINANCIAL COMMITMENTS |
| At the previous balance sheet date, other creditors included loans amounting to £3,459,684 from non-financial institutions, which related to property development. |
| 8. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| At the previous balance sheet date, the company owed £1,027,561 to Cayan Binayah Real Estate Ltd, a company in which the shareholders of Zarwah Scarbrook Ltd have significant influence. |
| Also at the previous balance sheet date, the company was owed £73,316 by Huxley Construction Ltd, a company in which one of the shareholders of Zarwah Scarbrook Ltd has majority control. |
| During the year, the company transferred some of its assets and liabilities to its subsidiary, Boulevard Point Limited, as part of a group restructuring. The assets and liabilities largely consisted of shareholders loans and were transferred at their respective book value. This transfer also included the sale of investment property with a carrying value (at cost) of £11,275,008. The transaction did not result in any gain or loss being recognised in the profit and loss statement. |