Zestor Limited Accounts






Zestor Limited

	Company No. 01783329
		Information for Filing with The Registrar
		31 March 2019

at	31 March 2019
Company No.		01783329	Notes	2019	2018
				£	£
Fixed assets

	Tangible assets		3	-	-
	Investment property		4	259,000	255,000

				259,000	255,000
Current assets

	Debtors		5	29,105	4,340

	Cash at bank and in hand			10,565	6,870
				39,670	11,210
Creditors: Amount falling due within one year			6	(12,023)	(16,310)
Net current assets/(liabilities)				27,647	(5,100)
Total assets less current liabilities				286,647	249,900
Creditors: Amounts falling due after more than one year			7	(102,552)	(68,984)
Provisions for liabilities
	Deferred taxation		9	(36,029)	(35,229)

Net assets				148,066	145,687

Capital and reserves
	Called up share capital			599	599


	Capital redemption reserve		10	140,917	140,917
	Profit and loss account		10	6,550	4,171

Total equity				148,066	145,687



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 11 December 2019
And signed on its behalf by:
Stuart Hoare
Director

for the year ended 31 March 2019

Accounting policies

Basis of preparation

The accounts have been prepared 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) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

The accounts are presented in Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

20% Straight line

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

2	Employees
			2019	2018
			Number	Number
		The average number of persons employed during the year :	1	1

3	Tangible fixed assets
			Plant and machinery	Total
			£	£
		Cost or revaluation
		At 1 April 2018	1,173	1,173




		At 31 March 2019	1,173	1,173
		Depreciation
		At 1 April 2018	1,173	1,173




		At 31 March 2019	1,173	1,173
		Net book values
		At 31 March 2019	-	-
		At 31 March 2018	-	-

Investment property

Freehold Investment Property

Valuation

At 1 April 2018

255,000

Revaluation

4,000

At 31 March 2019

259,000

Freehold Investment Property

The freehold investment property was acquired on 28 June 1996. The property was revalued on 31 March 2019 by Stuart Hoare.

5	Debtors
			2019	2018
			£	£
		Trade debtors	5,605	4,340





		Other debtors	23,500	-

			29,105	4,340

6	Creditors:
		amounts falling due within one year
			2019	2018
			£	£

		Bank loans and overdrafts	9,647	7,361


		Trade creditors	237	-

		Corporation tax	746	2,295
		Other taxes and social security	840	100
		Loans from directors	553	6,355
		Other creditors	-	199

			12,023	16,310

7	Creditors:
		amounts falling due after more than one year
			2019	2018
			£	£

		Bank loans and overdrafts	102,552	68,984






			102,552	68,984

		Liabilities repayable in more than five years after the balance sheet date
		Amount repayable by instalments	39,223	36,791

			39,223	36,791

		Security is fixed and floating charges against the investment property held by the company.

8	Creditors: secured liabilities
			2019	2018
			£	£
		The aggregate amount of secured liabilities included within creditors	-	76,345

9	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 April 2018	35,229	35,229
		Charge to the profit and loss account for the period	800	800

		At 31 March 2019	36,029	36,029



			2019	2018
			£	£



		Other timing differences	36,029	35,229
			36,029	35,229








		Other deferred tax timing differences refers to the fair value adjustment on freehold investment property.

10	Reserves
			Non-distributable reserve	Total other reserves
			£	£
		At 1 April 2017	136,917	136,917


		Transfers	4,000	4,000
		At 31 March 2018 and 1 April 2018	140,917	140,917



		At 31 March 2019	140,917	140,917


		Non-distributable reserve relates to the fair value adjustment made to investment freehold properties held.

		Profit and loss account - includes all current and prior period retained profits and losses.

Additional information

Its registered number is:

01783329

87 London Road

Cowplain

Waterlooville

PO8 8XB