Registered number
NI653050
Property Zoo Ltd
Unaudited Filleted Accounts
31 March 2025

Property Zoo Ltd
Registered number: | NI653050
Balance Sheet
as at 31 March 2025
Notes |  |  | 2025 |  |  | 2024
£ | £
Tangible fixed assets
Fixed assets | 3 |  |  | 4,718 |  |  | -
Investment properties | 4 |  |  | 4,361,960 |  |  | 3,313,252
|  |  |  | 4,366,678 |  |  | 3,313,252
Current assets
Debtors | 5 |  | 1,651 |  |  | 889
Cash at bank and in hand |  |  | 260,605 |  |  | 311,547
|  |  | 262,256 |  |  | 312,436
Creditors: amounts falling due within one year | 6 |  | (569,173) |  |  | (47,361)
Net current (liabilities)/assets |  |  |  | (306,917) |  |  | 265,075
Net assets |  |  |  | 4,059,761 |  |  | 3,578,327
Capital and reserves
Called up share capital |  |  |  | 1,000 |  |  | 1,000
Profit and loss account |  |  |  | 4,058,761 |  |  | 3,577,327
Shareholder's funds |  |  |  | 4,059,761 |  |  | 3,578,327
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Adair
Director
Approved by the board on 5 December 2025

Property Zoo Ltd
Notes to the Accounts
for the year ended 31 March 2025
1 | Accounting policies
| Basis of preparation
| The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
| Consolidation
| In the opinion of the director, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.
| Cash flow statement
| The director has taken advantage of the exemption in FRS 102 from including a cash flow statement in the financial statements on the grounds that the company is small.
| Tangible fixed assets
| Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
| Plant and machinery | over 5 years
| Tangible fixed assets - investment properties
| Investment properties are properties that are held for their investment potential and not for use by the company and so their current value is of prime importance. Changes in the current values of investment properties are recognised in the income statement. Deferred tax is provided on the changes in current values at the rate expected to apply when the property is sold.
| Debtors
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
| Creditors
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
1 | Accounting policies ctd.
| Taxation
| A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
| Provisions
| Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 | Employees | 2025 |  | 2024
Number | Number
| Average number of persons employed by the company | - |  | -
3 | Tangible fixed assets | Plant and equipment
£
| Cost
| At 1 April 2024 | -
| Additions | 4,798
| At 31 March 2025 | 4,798
| Depreciation
| At 1 April 2024 | -
| Charge for the year | 80
| At 31 March 2025 | 80
| Net book value
| At 31 March 2025 | 4,718
| At 31 March 2024 | -
4 | Investment properties
|  |  |  |  |  | Investment properties
£
| Cost
| At 1 April 2024 | 3,313,252
| Additions | 1,373,939
| Surplus on revaluation | 38,454
| Disposals | (363,685)
| At 31 March 2025 | 4,361,960
| Depreciation
| At 1 April 2024 | -
| At 31 March 2025 | -
| Net book value
| At 31 March 2025 | 4,361,960
| At 31 March 2024 | 3,313,252
| Investment properties at both 66/68 Main Street and 61a Main Street, Saintfield and all buy to let residential properties have been revalued by Alexander Reid & Frazer, Estate Agents in March 2025 at an open market value of £3,045,000. The properties have been revalued using RICS valuation standards.
| Investment properties at 22 Lisburn Road and 31/33 Main Street, Saintfield have been included based on historic cost as they are both in the final stages of redevelopment.
| In the opinion of the directors, investment properties are valued at their open market value.
| The cost and depreciation values of Investment Properties, based on historical cost, was as follows:
| Investment properties | 2025 |  | 2024
£ | £
| Historical cost | 4,102,946 |  | 3,313,253
| Cumulative depreciation based on historical cost | - |  | -
|  |  |  |  |  | 4,102,946 |  | 3,313,253
5 | Debtors | 2025 |  | 2024
£ | £
| Other debtors | 1,651 |  | 889
6 | Creditors: amounts falling due within one year | 2025 |  | 2024
£ | £
| Taxation and social security costs | 21,365 |  | 18,572
| Other creditors | 547,808 |  | 28,789
|  |  |  |  |  | 569,173 |  | 47,361
7 | Loans to directors
| Description and conditions
| The director's current account was overdrawn by £2,258 during the current financial year. However, the director made a loan payment of £231,110 to the company during the year. As a result, the director's current account was in credit by the Balance Sheet date and has been included in Other Creditors (note 5 above).
| Interest of £6 has been charged on the overdrawn director's current account, based on HM Revenue & Customs official rate of interest for beneficial loans.
B/fwd | Paid | Repaid | C/fwd
£ | £ | £ | £
| Mr G Adair
| Balance on current account | (16) |  | 161,810 |  | (238,902) |  | (77,108)
| Loan interest charge | - |  | 6 |  | - |  | 6
|  | (16) |  | 161,816 |  | (238,902) |  | (77,102)
8 | Related party transactions
| Adair Homes Ltd
| Adair Homes Ltd acquired 100% of the issued share capital of Property Zoo Ltd on 28 September 2018.
| Mr G Adair is the majority shareholder in Adair Homes Ltd. As a result, Property Zoo Ltd was under the ultimate control of Mr G Adair.
| Farset Retail Limited
| Property Zoo Ltd then acquired 100% of the issued share capital of Retail Zoo Limited as part of a company reorganisation in order to implement a HMRC approved share incentive scheme.
| Property Zoo Ltd subsequently transferred 100% of the issued share capital of Retail Zoo Limited to Farset Retail Limited for £2,000,000 on 13 March 2019, also as part of the company reorganisation.
| The acquisition was financed by way of an interest bearing loan between Property Zoo Ltd and Farset Retail Limited.
| The loan was repaid in full by 31 March 2024.
| A further company reorganisation was implemented on 24 October 2024 whereby Adair Homes Ltd acquired 75.01% of the issued share capital of Farset Retail Limited. Mr G Adair continues to be the majority shareholder of Adair Homes Ltd.
| Also, as part of the reorganisation, Elcoda Limited acquired 24.99% of the issued share capital of Farset Retail Limited. Mr C O'Reilly, a dirrector of Retail Zoo Limited, is the majority shareholder in Elcoda Limited.
| Through his shareholdings, Mr G Adair has a controlling interest in Adair Homes Ltd and Property Zoo Ltd as well Farset Retail Limited and Retail Zoo Limited in both the current and previous years.
| A loan of £671,280 was made by Retail Zoo Limited to Property Zoo Ltd during the year. The balance on the loan account peaked at £671,280 in October 2024. Loan repayments of £534,000 were made during the year. Interest of £8,308 has been charged on the loan account balance based on HM Revenue & Customs official rate of interest. The loan has been included in Other Creditors.
9 | Ultimate parent company
| The ultimate parent company is Adair Homes Ltd, a limited company registered in Northern Ireland.
10 | Other information
| Property Zoo Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
| 42 Old Belfast Road
| Saintfield
| County Down
| BT 24 7DG

Property Zoo Ltd NI653050 false 2024-04-01 2025-03-31 2025-03-31 VT Final Accounts April 2025 Mr G Adair No description of principal activity NI653050 2023-04-01 2024-03-31 NI653050 core:WithinOneYear 2024-03-31 NI653050 core:ShareCapital 2024-03-31 NI653050 core:RetainedEarningsAccumulatedLosses 2024-03-31 NI653050 core:LandBuildings 2024-03-31 NI653050 2024-04-01 2025-03-31 NI653050 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 NI653050 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 NI653050 bus:Director40 2024-04-01 2025-03-31 NI653050 1 2024-04-01 2025-03-31 NI653050 2 2024-04-01 2025-03-31 NI653050 core:PlantMachinery 2024-04-01 2025-03-31 NI653050 bus:Director1 2024-04-01 2025-03-31 NI653050 bus:Director1 1 2024-04-01 2025-03-31 NI653050 bus:Director1 2 2024-04-01 2025-03-31 NI653050 countries:England 2024-04-01 2025-03-31 NI653050 bus:FRS102 2024-04-01 2025-03-31 NI653050 bus:FilletedAccounts 2024-04-01 2025-03-31 NI653050 2025-03-31 NI653050 core:WithinOneYear 2025-03-31 NI653050 core:ShareCapital 2025-03-31 NI653050 core:RetainedEarningsAccumulatedLosses 2025-03-31 NI653050 core:PlantMachinery 2025-03-31 NI653050 core:LandBuildings 2025-03-31 NI653050 bus:Director1 1 2025-03-31 NI653050 bus:Director1 2 2025-03-31 NI653050 2024-03-31 NI653050 core:PlantMachinery 2024-03-31 NI653050 bus:Director1 1 2024-03-31 NI653050 bus:Director1 2 2024-03-31 iso4217:GBP xbrli:pure