Zelltec Projects Limited - Accounts to registrar (filleted) - small 18.2
Zelltec Projects Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2021 |
| for |
| ZELLTEC PROJECTS LIMITED |
| ZELLTEC PROJECTS LIMITED (REGISTERED NUMBER: 06251872) |
| Contents of the Financial Statements |
| for the year ended 31 May 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ZELLTEC PROJECTS LIMITED |
| Company Information |
| for the year ended 31 May 2021 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Accountants |
| 3rd Floor |
| Marlborough House |
| 298 Regents Park Road |
| Finchley |
| London |
| N3 2SZ |
| ZELLTEC PROJECTS LIMITED (REGISTERED NUMBER: 06251872) |
| Balance Sheet |
| 31 May 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investment property | 5 |
| Current assets |
| Stocks |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current (liabilities)/assets | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
7 |
| Net assets |
| Capital and reserves |
| Called up share capital | 8 |
| Retained earnings |
| Shareholders' funds |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| ZELLTEC PROJECTS LIMITED (REGISTERED NUMBER: 06251872) |
| Balance Sheet - continued |
| 31 May 2021 |
| 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 |
| ZELLTEC PROJECTS LIMITED (REGISTERED NUMBER: 06251872) |
| Notes to the Financial Statements |
| for the year ended 31 May 2021 |
| 1. | Statutory information |
| Zelltec Projects Limited is a |
| The presentation and functional currency of the company is UK Pounds Sterling. Amounts are rounded to the nearest £. |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| 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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of investment properties at fair value. |
| Key source of estimation, uncertainty and judgement |
| The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
| There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable. |
| Turnover |
| Turnover represents amounts receivable for rents and are included in the profit and loss account in the period to which they relate to. |
| Sales of properties are included in the profit and loss accounts on an irrevocable exchange of contract. |
| Tangible fixed assets |
| Freehold property | - |
| Property held for use by the company is held at revalued amounts. This is applied in accordance with the alternative accounting rules in accordance with the Companies Act 2006. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| ZELLTEC PROJECTS LIMITED (REGISTERED NUMBER: 06251872) |
| Notes to the Financial Statements - continued |
| for the year ended 31 May 2021 |
| 2. | Accounting policies - continued |
| Financial instruments |
| Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
| Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
| Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
| Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Tangible fixed assets |
| Freehold |
| property |
| £ |
| Cost |
| At 1 June 2020 |
| and 31 May 2021 |
| Net book value |
| At 31 May 2021 |
| At 31 May 2020 |
| ZELLTEC PROJECTS LIMITED (REGISTERED NUMBER: 06251872) |
| Notes to the Financial Statements - continued |
| for the year ended 31 May 2021 |
| 5. | Investment property |
| Total |
| £ |
| Fair value |
| Additions |
| At 31 May 2021 |
| Net book value |
| At 31 May 2021 |
| 6. | Creditors: amounts falling due within one year |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | Creditors: amounts falling due after more than one year |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 971,796 | 167,821 |
| Bank loans are secured by way of a fixed charge on properties held as Fixed Assets and Stock and a floating charge over the assets of the company. |
| 8. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary | £1 | 400 | 400 |
| 9. | Related party disclosures |
| Included above in Other creditors is an amount of £1,576,768 (2020 : £1,025,868) owed to a related company. They are related by virtue of common directorships and shareholders. |