Company No: 03084569 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	2,152		3,249
Investment property	4	350,000		350,000
Investments	5	4		4
		352,156		353,253
Current assets
Stocks		460,420		460,420
Debtors	6	68,160		87,301
Cash at bank and in hand		302,495		370,015
		831,075		917,736
Creditors: amounts falling due within one year	7	( 884,676)		( 866,911)
Net current (liabilities)/assets		(53,601)		50,825
Total assets less current liabilities		298,555		404,078
Net assets		298,555		404,078
Capital and reserves
Called-up share capital	8	1,000		1,000
Profit and loss account		297,555		403,078
Total shareholders' funds		298,555		404,078

For the financial year ending 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have 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 Zerocable Limited (registered number: 03084569) were approved and authorised for issue by the Board of Directors on 17 June 2026. They were signed on its behalf by:

Mr W J H Hiley 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

Zerocable 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 Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom. The principal place of business is Summerlock Mews, 100A Fisherton Street, Salisbury, Wiltshire, SP2 7QY

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 represents amounts chargeable, net of value added tax, in respect of the sale of services to customers. Where customers pay in advance, the amount received is recorded as deferred income and released to profit and loss over the period of the contract.

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 basis over its expected useful life, as follows:

Leasehold improvements	4 years straight line
Plant and machinery	4 years straight line
Vehicles	4 years straight line
Fixtures and fittings	4 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Stocks

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

Work in progress represents the purchase price of the property plus development costs that will be fully recoverable upon sale. Net realisable value represents the valuation of the property which is calculated using the future income streams through rent or potential sale.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	1		1

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 October 2024	4,797		27,286		8,640		10,880		51,603
At 30 September 2025	4,797		27,286		8,640		10,880		51,603
Accumulated depreciation
At 01 October 2024	4,797		27,286		5,910		10,361		48,354
Charge for the financial year	0		0		910		187		1,097
At 30 September 2025	4,797		27,286		6,820		10,548		49,451
Net book value
At 30 September 2025	0		0		1,820		332		2,152
At 30 September 2024	0		0		2,730		519		3,249

4. Investment property

	Investment property
	£
Valuation
As at 01 October 2024	350,000
As at 30 September 2025	350,000

The director has assessed the fair value of the property to be £350,000.

There has been no valuation of investment property by an independent valuer.

5. Fixed asset investments

	2025		2024
	£		£
Subsidiary undertakings	4		4

Investments in subsidiaries

	2025
	£
Cost
At 01 October 2024	13,082
At 30 September 2025	13,082
Provisions for impairment
At 01 October 2024	13,078
At 30 September 2025	13,078
Carrying value at 30 September 2025	4
Carrying value at 30 September 2024	4

Details of the investments (including principle place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 30.09.2025	Ownership 30.09.2024	Held
Lillygrange Limited	Hitchcock House, Hilltop Park, Devizes Road, Salisbury, Wiltshire, SP3 4UF	Property development	Ordinary shares	100.00%	100.00%	Direct
Freshfields Limited	Hitchcock House, Hilltop Park, Devizes Road, Salisbury, Wiltshire, SP3 4UF	Property development	Ordinary shares	100.00%	100.00%	Direct

6. Debtors

	2025		2024
	£		£
Trade debtors	61		13,018
Amounts owed by Group undertakings	12,460		17,079
Other debtors	55,639		57,204
	68,160		87,301

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	8,356		4,816
Amounts owed to Group undertakings	168,407		168,407
Amounts owed to directors	658,688		658,688
Accruals	49,225		35,000
	884,676		866,911

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,000 Class 1 ordinary shares of £ 1.00 each	1,000		1,000

9. Related party transactions

A guarantee of up to £1,175,000 has been provided to Lillygrange Limited on its borrowing from Coutts & Co.