REGISTERED NUMBER: 01407783 (England and Wales)

Z Spars International Limited

Financial Statements

for the year ended

30 November 2025

Page

Balance Sheet

1

Notes to the Financial Statements

2

to

7

FIXED ASSETS

Tangible assets

5

893,189

903,068

CURRENT ASSETS

Stocks

322,450

311,036

Debtors

6

40,385

36,266

Cash at bank

831,138

849,694

1,193,973

1,196,996

CREDITORS

Amounts falling due within one year

7

(42,459

)

(58,301

)

NET CURRENT ASSETS

1,151,514

1,138,695

TOTAL ASSETS LESS CURRENT LIABILITIES

2,044,703

2,041,763

PROVISIONS FOR LIABILITIES

(96,851

)

(55,200

)

NET ASSETS

1,947,852

1,986,563

CAPITAL AND RESERVES

Called up share capital

9

80

80

Revaluation reserve

10

494,463

687,267

Capital redemption reserve

20

20

Retained earnings

1,453,289

1,299,196

SHAREHOLDERS' FUNDS

1,947,852

1,986,563

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 18 August 2026 and were signed on its behalf by:

L M M Gilbert - Director

A M Murray - Director

1.	STATUTORY INFORMATION

Z Spars International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

01407783

Registered office:

Unit 2

Pond Hall Road

Hadleigh

Suffolk

IP7 5PW

The presentational and functional currency of these financial statements is Pound Sterling. Values are rounded to the nearest Pound (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported as revenue and expenses during the year. However, the nature of estimations means that the actual outcomes could differ from these estimates. The following items are highlighted as judgements that have had the most significant effect on amounts recognised in the financial statements and the key sources of estimation uncertainty.

Revaluation of Freehold Property

The company carries its Freehold Property at fair value, with changes in the fair value being recognised in the Statement of Comprehensive Income. The directors engage independent valuation specialists to determine the fair value of Freehold Property. Further details are provided in note 6.

Depreciation of Freehold Property

Depreciation is not charged on the Freehold Property due to the fact that the directors are of the opinion that the depreciation charge, and resulting accumulated depreciation, are immaterial to the financial statements as the residual value of the property does not materially differ to the carrying value.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when control of the goods passes to the customer, which is the point of delivery.

Tangible fixed assets

Tangible fixed assets held under the historic cost model are initially recognised at cost and subsequently measured at cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition for it to be capable of operating in the intended manner.

Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life as follows:

Plant and machinery

-

25% reducing balance

Motor vehicles

-

25% reducing balance

Freehold Property

Freehold property is carried at fair value less any subsequent impairment losses. Freehold property is not depreciated as any charge would be immaterial based upon the high residual value. This is a departure from the Companies Act 2006 in order to give a true and fair view.

The fair value of the Freehold Property is determined from market based evidence with the valuation being undertaken by professionally qualified valuers.

Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.

Revaluation gains and losses are recognised in the Statement of Comprehensive Income unless losses exceed the previously recognised gains, in which case the excess losses are recognised in the Income Statement.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating leases

Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 December 2024

865,000

141,309

50,791

1,057,100

Disposals

-

(6,730

)

-

(6,730

)

At 30 November 2025

865,000

134,579

50,791

1,050,370

DEPRECIATION

At 1 December 2024

-

126,757

27,275

154,032

Charge for year

-

3,516

5,879

9,395

Eliminated on disposal

-

(6,246

)

-

(6,246

)

At 30 November 2025

-

124,027

33,154

157,181

NET BOOK VALUE

At 30 November 2025

865,000

10,552

17,637

893,189

At 30 November 2024

865,000

14,552

23,516

903,068

Freehold Property was valued on a freehold vacant possession basis by Fenn Wright Chartered Surveyors on 15 January 2025. Had the property not been revalued the historic cost and carrying value would have been £280,733 (2024: £280,733).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

26,014

27,747

Amounts due from group undertakings

1,182

241

Other debtors

13,189

8,278

40,385

36,266

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

5,411

2,807

Amounts due to group undertakings

137

10,622

Taxation and social security

14,084

15,434

Other creditors

22,827

29,438

42,459

58,301

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

414

414

Between one and five years

1,173

1,587

1,587

2,001

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

80

Ordinary

£1

80

80

10.

RESERVES

Revaluation

reserve

£

At 1 December 2024

687,267

Transfer

(148,683

)

Deferred tax

(44,121

)

At 30 November 2025

494,463

The revaluation reserve represents the cumulative surplus arising on the revaluation of freehold property, net of any associated deferred taxation. The transfer during the year represents a reclassification between distributable and non-distributable reserves to reflect the appropriate allocation.

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

The Report of the Auditors was unqualified.

Melinda Simpson (Senior Statutory Auditor)

for and on behalf of TC Group

12.	RELATED PARTY DISCLOSURES

13.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Z Diffusion.

The ultimate controlling party is L M M Gilbert.