REGISTERED NUMBER: 08597195 (England and Wales)

ZAYRAY DEVELOPMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

F Tailor

SECRETARY:

F Tailor

REGISTERED OFFICE:

Sovereign House

12 Warwick Street

Coventry

CV5 6ET

REGISTERED NUMBER:

08597195 (England and Wales)

ACCOUNTANTS:

Burrows Scarborough

Chartered Accountants

Sovereign House

12 Warwick Street

Coventry

West Midlands

CV5 6ET

FIXED ASSETS

Investment property

4

31,599,998

27,897,497

CURRENT ASSETS

Debtors

5

42,107

44,008

Prepayments and accrued income

42,443

143,857

Cash at bank

36,410

30,861

120,960

218,726

CREDITORS

Amounts falling due within one year

6

5,817,995

4,806,430

NET CURRENT LIABILITIES

(5,697,035

)

(4,587,704

)

TOTAL ASSETS LESS CURRENT LIABILITIES

25,902,963

23,309,793

CREDITORS

Amounts falling due after more than one year

7

(9,785,253

)

(8,194,974

)

PROVISIONS FOR LIABILITIES

(1,547,381

)

(1,334,166

)

ACCRUALS AND DEFERRED INCOME

(109,613

)

(98,896

)

NET ASSETS

14,460,716

13,681,757

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

9

14,460,715

13,681,756

14,460,716

13,681,757

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 July 2025 and were signed by:

F Tailor - Director

1.	STATUTORY INFORMATION

Zayray Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

Figures in the accounts have been rounded to the nearest £.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis due to the continued financial support of other related parties.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The portfolio of investment property was valued at current market value by the director. Recent purchase prices, renovation costs and market movements have all been considered in reaching the valuation.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

27,897,497

Additions

2,849,640

Revaluations

852,861

At 31 December 2024

31,599,998

NET BOOK VALUE

At 31 December 2024

31,599,998

At 31 December 2023

27,897,497

Fair value at 31 December 2024 is represented by:

£

Valuation in 2018

343,625

Valuation in 2019

387,038

Valuation in 2020

892,390

Valuation in 2021

2,954,030

Valuation in 2022

667,142

Valuation in 2023

92,442

Valuation in 2024

852,861

Cost

25,410,470

31,599,998

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

42,107

44,008

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

1,060,209

449,024

Trade creditors

30,754

33,167

Taxation and social security

203,730

234,804

Other creditors

4,523,302

4,089,435

5,817,995

4,806,430

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

9,785,253

8,194,974

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

8,703,883

1,772,022

Repayable by instalments

Bank loans

301,607

1,394,172

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

10,845,462

8,643,998

National Westminster Bank PLC and Together Commercial Finance Limited hold first charges over various investment property owned by the company.

9.

RESERVES

Included in Profit & Loss reserves are un-distributable reserves amounting to £4,642,145 (2023 £4,002,500).

10.	OTHER FINANCIAL COMMITMENTS

The company has provided a guarantee of £1.3m to Natwest bank regarding a loan taken out by another company under the control of the director, Mr F Tailor. This guarantee is supported by first legal charges on various freehold property owned by the company.

11.	RELATED PARTY DISCLOSURES

Included within Other creditors are loans of £4,514,999 (2023 £3,920,900) from other companies under the control of the director, Mr F Tailor. In addition, this other company has provided a cross-guarantee to National Westminster Bank PLC to the value of £2,250,000 on the bank loans owed by Zayray Developments Limited.