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Company Registration No. 04619176 (England and Wales)
Zetland Properties Limited Unaudited accounts for the year ended 31 December 2024
Zetland Properties Limited Unaudited accounts Contents
Page
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Zetland Properties Limited Company Information for the year ended 31 December 2024
Directors
M Harrison L Harrison C Harrison
Secretary
T Harrison
Company Number
04619176 (England and Wales)
Registered Office
18 WELLINGTON PARK CLIFTON BRISTOL AVON BS8 2UT United Kingdom
Accountants
Vertical Consulting Ltd 18 Wellington Park Clifton Bristol Bristol BS8 2UT
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Zetland Properties Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
153 
204 
Investment property
2,630,000 
2,630,000 
2,630,153 
2,630,204 
Current assets
Debtors
3,809 
3,499 
Cash at bank and in hand
67,935 
72,676 
71,744 
76,175 
Creditors: amounts falling due within one year
(464,909)
(451,493)
Net current liabilities
(393,165)
(375,318)
Total assets less current liabilities
2,236,988 
2,254,886 
Creditors: amounts falling due after more than one year
(242,012)
(273,197)
Provisions for liabilities
Deferred tax
(239,541)
(239,541)
Net assets
1,755,435 
1,742,148 
Capital and reserves
Called up share capital
100 
100 
Fair value reserve
1,057,201 
1,057,201 
Profit and loss account
698,134 
684,847 
Shareholders' funds
1,755,435 
1,742,148 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2025 and were signed on its behalf by
L Harrison Director Company Registration No. 04619176
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Zetland Properties Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Zetland Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 04619176. The registered office is 18 WELLINGTON PARK, CLIFTON, BRISTOL, AVON, BS8 2UT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on the reducing balance basis
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Zetland Properties Limited Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 January 2024
2,915 
At 31 December 2024
2,915 
Depreciation
At 1 January 2024
2,711 
Charge for the year
51 
At 31 December 2024
2,762 
Net book value
At 31 December 2024
153 
At 31 December 2023
204 
5
Investment property
2024 
£ 
Fair value at 1 January 2024
2,630,000 
At 31 December 2024
2,630,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,976 
- 
Accrued income and prepayments
1,833 
3,499 
3,809 
3,499 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
30,833 
27,776 
Taxes and social security
3,129 
9,994 
Other creditors
32,790 
32,790 
Loans from directors
385,005 
374,779 
Accruals
13,152 
6,154 
464,909 
451,493 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
242,012 
273,197 
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Zetland Properties Limited Notes to the Accounts for the year ended 31 December 2024
9
Transactions with related parties
At the year end £32,789 ( 2023 - £32,789 ) was owed by the company to Arley Garage ( Zetland Road ) Ltd, a company under the control of directors of Zetland Properties Ltd. The amount is disclosed within Creditors due within one year :- Other creditors. At the year end £385,006 ( 2023 - £374,779 ) was owed by the company jointly to Mr M Harrison and Mrs L Harrison, the company's directors. The amount is disclosed within Creditors due within one year :- Loans from directors. Interest accrued on this loan during the year at a market rate of interest. During the year the company received rental income of £10,200 ( 2023 - £10,200 ) from Arley Garage ( Zetland Road ) Ltd, a company controlled by Mr M Harrison and Ms L Harrison, directors of the company.
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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