Zenta Investments Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC200268

ZENTA INVESTMENTS LIMITED

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investments

4

54,265

CURRENT ASSETS

Debtors

5

1,915,679

NET CURRENT ASSETS

1,915,679

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,969,944

CAPITAL AND RESERVES

Called up share capital

72,437

Share premium

1,882,944

Capital redemption reserve

14,563

SHAREHOLDERS' FUNDS

1,969,944

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2020 and were signed on its behalf by:

C Ellison - Director

1.	STATUTORY INFORMATION

Zenta Investments Limited is a private company, limited by shares, registered in Scotland. The company's registered address is C/O Blackadders Llp, 53 Bothwell Street, Glasgow, G2 6TS.

The presentation currency of the financial statements is Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.

Going Concern

The financial statements have been prepared on a going concern basis. The consequences of the Covid-19 pandemic may adversely affect future recoverability of debtors. However, after assessing all potential impacts and future commitments, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements

The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements.

The directors consider there are no such significant judgements.

Investments

Investments in subsidiaries are included at cost less impairment.

Dividends

Dividends unpaid at the balance sheet date are only recognised as a liability at that date to the extent that they are appropriately authorised and are no longer at the discretion of the company. Unpaid dividends that do not meet these criteria are disclosed in the notes to the financial statements.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like loans to related parties.

Debt instruments like loans are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

Subsidiary

undertakings

£

COST

At 1 April 2019

and 31 March 2020

54,265

NET BOOK VALUE

At 31 March 2020

54,265

At 31 March 2019

54,265

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

Amounts owed by group undertakings

1,915,679

Although technically due on demand, the company has confirmed to the subsidiary undertaking, Land Sea Developments Limited, that it does not intend to seek repayment of this balance until the subsidiary has sufficient liquid funds available.

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

The Report of the Auditors was unqualified.

Elaine Dyer BA CA (Senior Statutory Auditor)

for and on behalf of Martin Aitken & Co Ltd

7.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

8.	ULTIMATE PARENT COMPANY

J L Tower Holdings Ltd (incorporated in Turks and Caicos Islands) is regarded by the directors as being the company's ultimate parent company.

Zenta Investments Limited - Accounts to registrar (filleted) - small 18.2

Zenta Investments Limited - Accounts to registrar (filleted) - small 18.2