Z1 PROPERTIES LIMITED - Accounts to registrar (filleted)

REGISTERED NUMBER: SC232508 (Scotland)

Unaudited Financial Statements For The Year Ended 30 June 2022

for

Z1 PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Ali

SECRETARY:

N Akhtar

REGISTERED OFFICE:

38 westcroft Court

Livingston

West Lothian

EH54 7EW

REGISTERED NUMBER:

SC232508 (Scotland)

ACCOUNTANTS:

Ahmad & Nabi Mcmullan

95-107 Lancefield Street

Glasgow

Lanarkshire

G3 8HZ

FIXED ASSETS

Investments

4

100

Investment property

5

7,355,452

6,752,097

7,355,552

6,752,197

CURRENT ASSETS

Debtors

6

12,020

Cash at bank

235,403

92,540

247,423

104,560

CREDITORS

Amounts falling due within one year

7

1,693,991

1,603,159

NET CURRENT LIABILITIES

(1,446,568

)

(1,498,599

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,908,984

5,253,598

CREDITORS

Amounts falling due after more than one year

8

3,729,062

3,212,217

NET ASSETS

2,179,922

2,041,381

CAPITAL AND RESERVES

Called up share capital

9

100

Revaluation reserve

10

1,555,815

Retained earnings

10

624,007

485,466

SHAREHOLDERS' FUNDS

2,179,922

2,041,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 5 May 2022 and were signed by:

A Ali - Director

1.	STATUTORY INFORMATION

Z1 PROPERTIES LIMITED is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 certain assets.

Turnover

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

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2021

and 30 June 2022

868,551

PROVISIONS

At 1 July 2021

and 30 June 2022

868,451

NET BOOK VALUE

At 30 June 2022

100

At 30 June 2021

100

Fixed asset investment represents the share capital of YAU'S Investments Ltd, company number SC251469. YAU'S Investments Ltd's investment property was transferred to Z1 Properties Ltd during the year hence the value of its shares are deemed to be £100 which represents its 100 ordinary shares at £1.00 each share.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2021

6,752,097

Additions

603,355

At 30 June 2022

7,355,452

NET BOOK VALUE

At 30 June 2022

7,355,452

At 30 June 2021

6,752,097

Fair value at 30 June 2022 is represented by:

£

Valuation in 2021

6,752,097

Valuation in 2022

603,355

7,355,452

Valuations were conducted by Lambert Smith in April 2019 for properties held at that date.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

Trade debtors

9,020

Global Foods

3,000

12,020

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

Bank loans and overdrafts

80,000

Other loans

79,500

Tax

67,786

97,465

VAT

17,524

9,172

Rent deposits

76,534

71,534

Directors' current accounts

1,315,953

1,229,118

Accrued expenses

5,244

4,920

Rent in advance

51,450

31,450

1,693,991

1,603,159

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.6.22

30.6.21

£

Bank loans outwith 1 year

3,729,062

3,212,217

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.22

30.6.21

value:

£

100

Ordinary

£1.00

100

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 1 July 2021

485,466

1,555,815

2,041,281

Profit for the year

138,541

At 30 June 2022

624,007

1,555,815

2,179,822

11.	ULTIMATE CONTROLLING PARTY

The controlling party is A Ali.

Z1 PROPERTIES LIMITED - Accounts to registrar (filleted) - small 23.1.2

Z1 PROPERTIES LIMITED - Accounts to registrar (filleted) - small 23.1.2