REGISTERED NUMBER: 10130076 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2023 to 29 March 2024

for

Zalsh Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

M P Haase

REGISTERED OFFICE:

Arnold Haase House

Duchy Road

Crewe

Cheshire

CW1 6ND

REGISTERED NUMBER:

10130076 (England and Wales)

ACCOUNTANTS:

Banks Sheridan

Datum House

Electra Way

Crewe

Cheshire

CW1 6ZF

FIXED ASSETS

Tangible assets

5

61,540

71,570

Investment property

6

981,600

981,600

1,043,140

1,053,170

CURRENT ASSETS

Debtors: amounts falling due within one year

7

1,807,922

1,687,693

Cash at bank

9,352

10,576

1,817,274

1,698,269

CREDITORS

Amounts falling due within one year

8

(19,815

)

(8,574

)

NET CURRENT ASSETS

1,797,459

1,689,695

TOTAL ASSETS LESS CURRENT LIABILITIES

2,840,599

2,742,865

CREDITORS

Amounts falling due after more than one year

9

(401,398

)

(409,550

)

PROVISIONS FOR LIABILITIES

12

(116,917

)

(116,917

)

NET ASSETS

2,322,284

2,216,398

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

2,322,283

2,216,397

2,322,284

2,216,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 March 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2025 and were signed by:

M P Haase - Director

1.	STATUTORY INFORMATION

Zalsh Limited ('The Company') is an investment company.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business and of the registered office is Arnold Haase House, Duchy Road, Crewe, Cheshire, CW1 6ND. The registered number can be found on the Company Information page.

The functional and presentational currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Summary of significant accounting policies

The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation

The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern

No material uncertainties that may cast doubt about the ability of the company to continue as a going concern have been identified by the director. Therefore, the director considers it appropriate to prepare the financial statements on the going concern basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance, 20% on reducing balance, 10% on cost and 10% on reducing balance

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.

Investment property is shown at fair value, the fair value is reviewed annually by the director. Any aggregate surplus or deficit arising from changes in the fair value in the year is recognised in the profit or loss within the Statement of Comprehensive Income. The cumulative fair value surplus on the investment property is highlighted in the notes to the financial statements as non-distributable reserves. Rentals are recognised on a straight line basis over the period of the lease or to the date of the next rent review. Net rental income after direct costs is included in other operating income.

Taxation

Taxation for the period 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 end of the financial period.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the end of the financial period. Deferred tax is recognised on revaluation of fixed asset investments.

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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Impairment of assets

Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2023

123,038

Additions

2,273

At 29 March 2024

125,311

DEPRECIATION

At 1 April 2023

51,468

Charge for period

12,303

At 29 March 2024

63,771

NET BOOK VALUE

At 29 March 2024

61,540

At 31 March 2023

71,570

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2023

and 29 March 2024

981,600

NET BOOK VALUE

At 29 March 2024

981,600

At 31 March 2023

981,600

In the opinion of the director, the fair value of the investment property at 29 March 2024 is £981,600.

Fair value at 29 March 2024 is represented by:

£

Valuation in 2024

981,600

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

1,807,922

1,687,693

Amounts owed by related parties are unsecured, interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 10)

3,193

-

Trade creditors

2,370

960

Taxation and social security

10,406

4,431

Other creditors

3,846

3,183

19,815

8,574

Amounts owed to related parties are unsecured, interest free and repayable on demand.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 10)

401,398

409,550

Amounts falling due in more than five years:

Repayable by instalments

Bank loans falling due after

more than one year

401,398

409,550

401,398

409,550

10.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

3,193

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans falling due after

more than one year

401,398

409,550

401,398

409,550

11.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

404,591

409,550

The bank loan is secured by a specific charge over one of the company's investment property's.

12.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

116,917

116,917

Deferred

tax

£

Balance at 1 April 2023

116,917

Balance at 29 March 2024

116,917

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the periods ended 29 March 2024 and 31 March 2023:

2024

2023

£

£

M P Haase

Balance outstanding at start of period

1,640,021

1,594,010

Amounts advanced

141,977

1,640,021

Amounts repaid

(70,391

)

(1,594,010

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

1,711,607

1,640,021

During the period interest of £38,343 (2023: £29,499) has been charged by the company in respect of the director's loan. At 29 March 2024 an amount of £82,563 (2023: £44,220) remains unpaid and is included within other debtors: amounts falling due within one year.

Rents charged to the director during the period amounted to £2,656.

The above loan was cleared during the period ending 5 April 2025.

14.	RELATED PARTY DISCLOSURES

Transactions with related parties during the year and balances outstanding at the end of the reporting period were as follows:

Entities in which the directors have an interest:

2024

2023

£

£

Rent receivable

6,444

-

Amounts due by entities

6,444

-

Amounts due to entities

-

767

15.	POST BALANCE SHEET EVENTS

In the next reporting period, the company purchased from the director shares in a related party, SGW Payroll Limited, for a total consideration of £2,100,000. This extinguished the director's loan account shown within debtors.

16.	FIXED ASSET INVESTMENTS

The company holds one Z Ordinary 1p share in a related party.

17.	NON-DISTRIBUTABLE RESERVES

Included within retained earnings is an amount of £350,750 (2023: £350,750) which is non-distributable.