Zam Prop Two Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 10490384 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR

ZAM PROP TWO LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Zammit

Mrs A M Zammit

REGISTERED OFFICE:

Unit E Malago Vale Trading Estate

St Johns Lane

Bristol

BS3 5BQ

REGISTERED NUMBER:

10490384 (England and Wales)

ACCOUNTANTS:

Gordon Wood Scott & Partners Limited

Chartered Accountants

Dean House

94 Whiteladies Road

Clifton

Bristol

BS8 2QX

FIXED ASSETS

Investment property

4

550,000

550,000

CURRENT ASSETS

Debtors

5

680

4,524

Cash at bank

39,885

24,196

40,565

28,720

CREDITORS

Amounts falling due within one year

6

(616,569

)

(616,256

)

NET CURRENT LIABILITIES

(576,004

)

(587,536

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(26,004

)

(37,536

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(26,104

)

(37,636

)

SHAREHOLDERS' FUNDS

(26,004

)

(37,536

)

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

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

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2023 and were signed on its behalf by:

A Zammit - Director

1.	STATUTORY INFORMATION

Zam Prop Two Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

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.

The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors have confirmed that they are both willing and able to continue to lend financial support to the company for the foreseeable future.

Turnover

Turnover represents rental income due to the company during the year.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Short term debtors are measured at transaction price less any impairment.

Short term creditors are measured at transaction price.

Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Other financial liabilities, including borrowings are initially measured at fair value and subsequently measured at amortised cost using the effective interest rate method, with interest expense recognised on an effective yield basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 NIL (2021 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2021

and 30 November 2022

550,000

NET BOOK VALUE

At 30 November 2022

550,000

At 30 November 2021

550,000

The investment property was valued on an open market basis at the year end by the directors of the company, based on information afforded by recent professional valuations of similar properties.

The values shown above for investment property are analysed as follows:

£

Revaluation surplus

-

Cost

550,000

Total

550,000

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.22

30.11.21

£

£

Deferred tax asset

680

4,524

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.22

30.11.21

£

£

Trade creditors

69,776

35,315

Other creditors

117,895

117,896

Directors' current accounts

427,710

427,398

Accruals and deferred income

1,188

35,647

616,569

616,256

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.22

30.11.21

value:

£

£

100

Ordinary

1

100

100

8.	RELATED PARTY DISCLOSURES