REGISTERED NUMBER: 09920580 (England and Wales)

Zip-Zap Limited

Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R H McDowell

Mrs A J McDowell

REGISTERED OFFICE:

The Old Chapel

12 Beck Side

Carleton

Skipton

North Yorkshire

BD23 3ET

REGISTERED NUMBER:

09920580 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Accountants & Business Advisors

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

4

-

92

Investment property

5

2,120,000

2,120,000

2,120,000

2,120,092

CURRENT ASSETS

Debtors

6

12,437

10,001

Cash at bank

20,926

36,214

33,363

46,215

CREDITORS

Amounts falling due within one year

7

331,804

406,261

NET CURRENT LIABILITIES

(298,441

)

(360,046

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,821,559

1,760,046

PROVISIONS FOR LIABILITIES

217,874

217,896

NET ASSETS

1,603,685

1,542,150

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8

1,603,585

1,542,050

SHAREHOLDERS' FUNDS

1,603,685

1,542,150

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 directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

Mr R H McDowell - Director

Mrs A J McDowell - Director

1.	STATUTORY INFORMATION

Zip-Zap Limited 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 company's functional and presentation currency is the pound sterling £. All financial information presented has been rounded to the nearest £, unless otherwise stated.

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.

Turnover

Turnover represents rents receivable, net of value added tax.

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 cost

Computer equipment

-

25% on cost

Tangible fixed assets are initially recorded at cost. No depreciation is provided on the land element of land and buildings.

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.

Taxation

Taxation for the year 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 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 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

460

2,986

350

3,796

DEPRECIATION

At 1 January 2024

368

2,986

350

3,704

Charge for year

92

-

-

92

At 31 December 2024

460

2,986

350

3,796

NET BOOK VALUE

At 31 December 2024

-

-

-

-

At 31 December 2023

92

-

-

92

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

2,120,000

NET BOOK VALUE

At 31 December 2024

2,120,000

At 31 December 2023

2,120,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2023

926,744

Cost

1,193,256

2,120,000

The investment properties have been valued at the balance sheet date by the directors at fair value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

10,000

10,001

Prepayments and accrued income

2,437

-

12,437

10,001

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Tax

17,846

20,407

VAT

5,781

4,927

Other creditors

7,888

18,888

Directors' current accounts

287,970

351,970

Accruals and deferred income

12,319

10,069

331,804

406,261

8.

RESERVES

Included within retained earnings is an amount in the sum of £708,871 (2023: £708,871) which is in respect of accumulated fair value gains on the investment properties (net of deferred tax) and is not distributable.