Company No: 10519031 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	Ms N J Campbell (Resigned 30 January 2025)
	Mrs F M Hill
	T R Leigh
	Ms J Lloyd

Registered office	2nd Floor 168 Shoreditch High Street
	London
	E1 6RA
	United Kingdom

Company number

10519031 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	1,452,068		1,470,401
		1,452,068		1,470,401
Current assets
Debtors	4	66,900		66,900
Cash at bank and in hand	5	107		4,394
		67,007		71,294
Creditors: amounts falling due within one year	6	( 484,352)		( 360,400)
Net current liabilities		(417,345)		(289,106)
Total assets less current liabilities		1,034,723		1,181,295
Creditors: amounts falling due after more than one year	7	( 807,954)		( 815,948)
Provision for liabilities	8	( 17,504)		( 13,340)
Net assets		209,265		352,007
Capital and reserves
Called-up share capital	9	2,000		2,000
Revaluation reserve		218,732		218,732
Profit and loss account		( 11,467 )		131,275
Total shareholder's funds		209,265		352,007

For the financial 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.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Zorba Estates Limited (registered number: 10519031) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

T R Leigh Director

Mrs F M Hill Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Zorba Estates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor 168 Shoreditch High Street, London, E1 6RA, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings

50 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		4

3. Tangible assets

	Land and buildings		Total
	£		£
Cost/Valuation
At 01 January 2024	1,525,000		1,525,000
At 31 December 2024	1,525,000		1,525,000
Accumulated depreciation
At 01 January 2024	54,599		54,599
Charge for the financial year	18,333		18,333
At 31 December 2024	72,932		72,932
Net book value
At 31 December 2024	1,452,068		1,452,068
At 31 December 2023	1,470,401		1,470,401

Revaluation of tangible assets

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

	2024		2023
	£		£
Historical cost	1,290,146		1,290,146
Accumulated depreciation	(171,506)		(153,172)
Carrying value	1,118,640		1,136,974

4. Debtors

	2024		2023
	£		£
Amounts owed by Group undertakings	66,900		66,900

5. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	107		4,394

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	41,250		41,250
Trade creditors	5,916		0
Amounts owed to Group undertakings	408,873		293,273
Accruals	3,115		5,911
Corporation tax	25,198		19,966
	484,352		360,400

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	807,954		815,948

8. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 13,340)		( 41,215)
(Charged)/credited to the Profit and Loss Account	( 4,164)		27,875
At the end of financial year	( 17,504)		( 13,340)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Revaluation of tangible assets	( 29,987)		( 34,570)
Tax losses carry forward	12,483		21,230
	( 17,504)		( 13,340)

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
2,000 Ordinary shares of £ 1.00 each	2,000		2,000

10. Related party transactions

At the 31 December 2024, £370,909 was owed to Zorba Holdings Limited, the parent company (2023 £219,709) and £37,964 was owed to Care Focus Limited, a fellow subsidiary (2023 - £73,564). These amounts are included within Creditors.

At 31 December 2024, £66,900 was due from Zorba Properties, a fellow subsidiary (2023 - £66,900) and is shown within Debtors.

11. Reserves

Revaluation reserve

This reserve comprises the surplus created from the revaluation of the freehold property less associated deferred tax provision.

Profit and loss account

This reserve comprises all current and prior period retained profits and losses after deducting all distributions.

12. Ultimate controlling party

Parent Company:

Zorba Holdings Limited

Second Floor, 168 Shoreditch High Street London E1 6RA

The directors T.R. Leigh and Ms J. Lloyd are also directors of Zorba Holdings Limited and are considered to control the company.