REGISTERED NUMBER: 13119993 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

ZX Milton Keynes Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A S Faulkner

G C Haydon-White

REGISTERED OFFICE:

46 Curzon Street

London

W1J 7UH

REGISTERED NUMBER:

13119993 (England and Wales)

AUDITORS:

bk plus Audit Limited

Azzurri House

Walsall Road

Aldridge

Walsall

WS9 0RB

CURRENT ASSETS

Stocks

4

22,406,812

18,722,592

Debtors

5

110,407

10,506

Cash at bank and in hand

26,096

7,883

22,543,315

18,740,981

CREDITORS

Amounts falling due within one year

6

(18,567,357

)

(18,753,373

)

NET CURRENT ASSETS/(LIABILITIES)

3,975,958

(12,392

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,975,958

(12,392

)

CREDITORS

Amounts falling due after more than one year

7

(4,000,000

)

-

NET LIABILITIES

(24,042

)

(12,392

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(24,142

)

(12,492

)

(24,042

)

(12,392

)

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 10 December 2025 and were signed on its behalf by:

A S Faulkner - Director

1.	STATUTORY INFORMATION

ZX Milton Keynes Developments 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 current liabilities.

3.	EMPLOYEES AND DIRECTORS

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

4.

STOCKS

31.12.24

31.12.23

(Unaudited)

£

£

Work-in-progress

22,406,812

18,722,592

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

VAT

110,407

10,506

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

Bank loans and overdrafts

8,478,724

12,444,699

Trade creditors

759,215

348,171

Amounts owed to group undertakings

9,323,418

5,959,503

Accruals and deferred income

6,000

1,000

18,567,357

18,753,373

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

(Unaudited)

£

£

Other creditors

4,000,000

-

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Keval Dattani ACA (Senior Statutory Auditor)

for and on behalf of bk plus Audit Limited

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A S Faulkner.

The ultimate parent company is Zephyr X Holdings Limited, registered office 46 Curzon Street, London, W1J 7UH.

The following are the parents of the largest and smallest groups in which this company's results are consolidated:

Largest group

Zephyr X Holdings Limited

Smallest group

Zephyr X Holdings Limited

Consolidated accounts are available from the groups registered office.