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COMPANY REGISTRATION NUMBER: 08508635

ZINC FREEHOLD NEWQUAY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 September 2024

ZINC FREEHOLD NEWQUAY LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2024

| 2024 | 2023
Note | £ | £
Creditors: amounts falling due within one year | 4 | ( 171,548) | ( 171,548)
| ---------- | ----------
Net current liabilities | ( 171,548) | ( 171,548)
| ---------- | ----------
Total assets less current liabilities | ( 171,548) | ( 171,548)
| ---------- | ----------

Capital and reserves

Called up share capital | 100 | 100
Profit and loss account | ( 171,648) | ( 171,648)
| ---------- | ----------
Shareholder deficit | ( 171,548) | ( 171,548)
| ---------- | ----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The company did not trade during the year and has not made either a profit or loss.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 January 2026 , and are signed on behalf of the board by:

M Omirou
Director

Company registration number: 08508635

ZINC FREEHOLD NEWQUAY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 York Street, London, W1H 1EZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in sterling on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
Going concern
The company is part of the Acorn Property Group and the ultimate parent company is Acorn PG Holdings Limited. The group has made a loss and has net liabilities however has unrealised profits on future development projects and is managing group cashflows to ensure liabilities are being paid as they fall due for payment. The group is receiving financial support from related companies to provide it with adequate working capital for a period of at least 12 months from the date of signing the financial statements and the ultimate parent company has provided group support. For these reasons, the directors have prepared the company's financial statements on a going concern basis.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. The key judgements and sources of estimation uncertainty that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: (i) Investment properties Investment properties are valued annually at fair value. Fair value is ascertained through review of comparable market data and rent levels and cash flows for the respective investment property. There is an inevitable degree of judgement involved. Given the property market knowledge and expertise of the directors and within the group, no third party valuation has been considered necessary. Whilst the Directors exercise due care and attention to make reasonable estimates, taking into account all available information in estimating the future selling price, the estimates may differ from the actual selling prices achieved in future periods. With the exception of the estimate described above, the directors consider that there are no other significant judgements or estimates in the preparation of these financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from charging rent and services.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Amounts owed to group undertakings | 171,548 | 171,548
| ---------- | ----------

5. Related party transactions
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.
6. Controlling party
APG Cornwall Limited is the immediate parent company. Acorn PG Holdings Limited is the ultimate parent company. The registered office of the companies is 29 York Street, London, England, W1H 1EZ. Copies of the financial statements for the parent company and group can be obtained from Companies House.