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Company No: 03319321 (England and Wales)

TZZ ESTATES LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

TZZ ESTATES LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

TZZ ESTATES LIMITED

BALANCE SHEET

As at 31 October 2024
TZZ ESTATES LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Current assets
Debtors 3 20 2,359
Cash at bank and in hand 5,458 2,211
5,478 4,570
Creditors: amounts falling due within one year 4 ( 306,891) ( 210,064)
Net current liabilities (301,413) (205,494)
Total assets less current liabilities (301,413) (205,494)
Net liabilities ( 301,413) ( 205,494)
Capital and reserves
Called-up share capital 5 1,500 1,500
Profit and loss account ( 302,913 ) ( 206,994 )
Total shareholder's deficit ( 301,413) ( 205,494)

For the financial year ending 31 October 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 TZZ Estates Limited (registered number: 03319321) were approved and authorised for issue by the Board of Directors on 29 July 2025. They were signed on its behalf by:

Mr R G Tizzard
Director
TZZ ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
TZZ ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 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 year, unless otherwise stated.

General information and basis of accounting

TZZ Estates Limited (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 Barrow Hill House Milborne Wick, Milborne Port, Sherborne, DT9 4PP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised for land and property sales when there is a legally binding, unconditional and irrecoverable contract.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises original acquisition and development costs incurred.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2024 2023
£ £
Other debtors 20 2,359

4. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 154,649 135,113
Other taxation and social security 427 0
Other creditors 151,815 74,951
306,891 210,064

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,500 Ordinary shares of £ 1.00 each 1,500 1,500