Zest Ventures Limited - Accounts to registrar (filleted) - small 23.2

REGISTERED NUMBER: 05268456 (England and Wales)

Financial Statements for the Year Ended 31 March 2023

for

Zest Ventures Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

Mr R A Boughton

Mr M A J Boughton

SECRETARY:

APS Nominees Limited

REGISTERED OFFICE:

Sanderum House

Oakley Road

Chinnor Oxfordshire

OX9 4TW

REGISTERED NUMBER:

05268456 (England and Wales)

CURRENT ASSETS

Debtors

4

1,591,417

1,642,688

Cash at bank

473,978

532,710

2,065,395

2,175,398

CREDITORS

Amounts falling due within one year

5

(804,182

)

(921,098

)

NET CURRENT ASSETS

1,261,213

1,254,300

TOTAL ASSETS LESS CURRENT LIABILITIES

1,261,213

1,254,300

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

1,211,213

1,204,300

SHAREHOLDERS' FUNDS

1,261,213

1,254,300

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 15 September 2023 and were signed on its behalf by:

Mr M A J Boughton - Director

1.	STATUTORY INFORMATION

Zest Ventures Limited 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.

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.

Turnover

Turnover represents interest receivable from commercial business loans.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

1,591,417

1,642,688

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

652

592

Taxation and social security

3,967

-

Other creditors

799,563

920,506

804,182

921,098

6.	RELATED PARTY DISCLOSURES

Included within Other debtors are loans to the following companies:

APS Accountancy Ltd £ 76,224 (2022: £ 127,766) - Interest receivable £ 4,140 (2022: £ 2,766)

The Sanderum Centre Ltd £1,214,776 (2022: £1,207,761) - Interest receivable £52,860 (2022: £25,818)

Zest Developments Ltd £ 315,125 (2022: £ 300,417) - Interest receivable £14,708 (2022: £11,011)

Included within Other creditors are loans from the following companies:

IPI Ventures Ltd £ - (2022: £153,319) - Interest payable £ 2,000 (2022: £ 3,319)

IPI Holdings Ltd £799,563 (2022: £766,594) - Interest payable £32,969 (2022: £16,594)

M Boughton and R Boughton control APS Accountancy Ltd, The Sanderum Centre Ltd, Zest Developments Ltd, IPI Ventures Ltd and IPI Holdings Ltd. M Boughton and R Boughton are both directors of The Sanderum Centre Ltd, Zest Developments Ltd and IPI Ventures Ltd. M Boughton is a director of IPI Holdings Ltd and R Boughton is a director of APS Accountancy Ltd. M Boughton and R Boughton control and are directors of Zest Ventures Ltd.

The loans are unsecured. Interest receivable and payable are charged a rates comparable with secured commercial bank loans and therefore lending is on a wholly commercial basis other than the loans are not secured on the assets of companies the directors control.

A provision has been made against interest receivable from Zest Developments Limited of £14,708 (2022: £52,733) that the directors assess will not be paid. The loan was advanced to fund a specific commercial project that was expected to generate a profit but unfortunately generated a loss.

7.	ULTIMATE CONTROLLING PARTY

The parent company is Zest Ventures Holdings Limited.

The company is ultimately controlled by the directors by virtue of their shareholdings in Zest Ventures Holdings Limited.