Z S Investments Ltd - Period Ending 2017-03-31
Z S Investments Ltd - Period Ending 2017-03-31
Registration number:
Z S Investments Ltd
for the Period from 24 March 2016 to 31 March 2017
14 Le Corte Close
Kings Langley
Hertfordshire
WD4 9PS
Z S Investments Ltd
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Z S Investments Ltd
Company Information
Directors |
Mr Z Ali Dr S Chawda |
Company secretary |
Mrs R Ali |
Registered office |
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Accountants |
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Page 1 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Z S Investments Ltd
for the Period Ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Z S Investments Ltd for the period ended 31 March 2017 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Z S Investments Ltd, as a body, in accordance with the terms of our engagement letter dated 1 August 2017. Our work has been undertaken solely to prepare for your approval the accounts of Z S Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Z S Investments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Z S Investments Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Z S Investments Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Z S Investments Ltd. You consider that Z S Investments Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Z S Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Kings Langley
Hertfordshire
WD4 9PS
Page 2 |
Z S Investments Ltd
(Registration number: 10084069)
Balance Sheet as at 31 March 2017
Note |
31 March |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Total equity |
( |
For the financial period ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr Z Ali
Director
Page 3 |
Z S Investments Ltd
Notes to the Financial Statements for the Period from 24 March 2016 to 31 March 2017
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
Going concern
The financial statements have been prepared on a going concern basis on the understanding that the directors will continue to support the company.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Page 4 |
Z S Investments Ltd
Notes to the Financial Statements for the Period from 24 March 2016 to 31 March 2017 (continued)
2 |
Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
The land and buildings is held for rental and investment purposes. Its fair value cannot be reliably measured without undue cost or effort and it is therefore shown at original cost.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 5 |
Z S Investments Ltd
Notes to the Financial Statements for the Period from 24 March 2016 to 31 March 2017 (continued)
Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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Additions |
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
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Included within the net book value of land and buildings above is £1,083,002 in respect of freehold land and buildings.
Debtors |
31 March |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
31 March |
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Due within one year |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
31 March |
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Non-current loans and borrowings |
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Other borrowings |
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Page 6 |
Z S Investments Ltd
Notes to the Financial Statements for the Period from 24 March 2016 to 31 March 2017 (continued)
6 |
Loans and borrowings (continued) |
Borrowings due after five years
Mortgage loans are secured on the properties to which they relate and incur interest at 3.49% per annum. They are repayable in 2038.
Share capital |
Allotted, called up and fully paid shares
31 March |
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No. |
£ |
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100 |
Related party transactions |
Other transactions with directors |
Mr Z Ali is reimbursed expenses incurred in the normal course of the company's business.
Plumbline Building Contracts Ltd
Other Creditors includes a a loan of £211,382 received during the year from Plumbline Building Contracts Ltd, a company partly owned by Mr Z Ali. No interest is charged on this loan and no repayment date has been set. At the balance sheet date the amount due to Plumbline Building Contracts Ltd was £211,382.
Dreamcatcher London Ltd
Other Creditors includes a a loan of £210,887 received during the year from Dreamcatcher London Ltd, a company owned by Dr S Chawda. No interest is charged on this loan and no repayment date has been set. At the balance sheet date the amount due to Dreamcatcher London Ltd was £210,887.
Page 7 |