Company registration number 06230183 (England and Wales)
ZAG ESTATES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
ZAG ESTATES LTD
COMPANY INFORMATION
Directors
Mr G Hall
Mrs Z Hall
Mr F Hall
Mr H Hall
Mr G Hall
Company number
06230183
ZAG ESTATES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ZAG ESTATES LTD
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
20,768
21,459
Investment properties
4
1,824,562
1,824,562
1,845,330
1,846,021
Current assets
Debtors
5
278,175
329,317
Investments
6
960,652
1,214,251
Cash at bank and in hand
39,012
63,117
1,277,839
1,606,685
Creditors: amounts falling due within one year
7
(244,989)
(527,632)
Net current assets
1,032,850
1,079,053
Total assets less current liabilities
2,878,180
2,925,074
Capital and reserves
Called up share capital
8
2,355,568
2,355,568
Share premium account
294,433
294,433
Profit and loss reserves
9
228,179
275,073
Total equity
2,878,180
2,925,074

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 July 2025 and are signed on its behalf by:
Mrs Z Hall
Director
Company Registration No. 06230183
ZAG ESTATES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

ZAG Estates Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Bracklands, Hazel Grove, Hindhead, Surrey, GU26 6BJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of rental income receivable. The interest, dividend income and capital gains that arise from the investments held are recognised in the profit and loss on the date at which the right to receive payment is established.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% per annum on the reducing balance method
Computer equipment
33.33% per annum on the straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Gains and losses arising from changes in the fair value of the investment property are included in profit and loss for the period in which they arise.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

ZAG ESTATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Current asset investments

Listed investments are measured at fair value with changes recognised in profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

1.7
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

1.8
Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
5
5
ZAG ESTATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
3
Tangible fixed assets
Plant and machinery
Computer equipment
Total
£
£
£
Cost
At 1 April 2024
88,076
1,798
89,874
Additions
3,619
-
0
3,619
At 31 March 2025
91,695
1,798
93,493
Depreciation and impairment
At 1 April 2024
67,150
1,265
68,415
Depreciation charged in the year
4,132
178
4,310
At 31 March 2025
71,282
1,443
72,725
Carrying amount
At 31 March 2025
20,413
355
20,768
At 31 March 2024
20,926
533
21,459
4
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
1,824,562

Investment property comprises a farmhouse and cottages. The fair value of the investment property held at 31 March 2025 has been arrived at on the basis of a valuation carried out at 19 September 2018 by Mr M Bunt BSc MRICS FAAV of Kivells Limited, who is not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The valuation of all investment properties was considered by the directors at 31 March 2025 and they of the opinion that the valuation is reasonable.

5
Debtors: amounts falling due within one year
2025
2024
£
£
Trade debtors
250
1,790
Other debtors
9,794
17,795
10,044
19,585
Deferred tax asset
268,131
309,732
278,175
329,317
ZAG ESTATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
6
Current asset investments
2025
2024
£
£
Listed investments
960,652
1,214,251

Listed investments are ordinary shares measured at fair value through profit and loss based on the quoted market price in an active market. The comparable amount on the historical cost basis would have been £648,133 (2024: £896,531).

7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loan (secured)
110,000
500,000
Trade creditors
520
1,784
Taxation and social security
(1,008)
4,525
Other creditors
135,477
21,323
244,989
527,632

The bank loan is secured against the investment portfolio.

 

 

8
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
2,355,568 Ordinary shares of £1 each
2,355,568
2,355,568
2,355,568
2,355,568
9
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
275,073
256,786
(Loss)/profit for the year
(46,894)
18,287
At the end of the year
228,179
275,073
10
Controlling party

Throughout the year the parent company was Magnitude Holdings Limited, incorporated in the Channel Islands. Its registered office is No. 1 Seaton Place, St Helier, Jersey, Channel Islands. The directors have no connection with Magnitude Holdings Limited.

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