Zenet Ltd - Accounts to registrar (filleted) - small 17.3

Zenet Ltd - Accounts to registrar (filleted) - small 17.3

ZENET LTD - Company Information

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REGISTERED NUMBER: 05104153 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

ZENET LTD
ZENET LTD (REGISTERED NUMBER: 05104153)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2017




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ZENET LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2017







DIRECTOR: Mrs B Gross





SECRETARY: Mrs R Freid





REGISTERED OFFICE: 12 Craven Walk
Stamford Hill
London
N16 6BT





REGISTERED NUMBER: 05104153 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL
Page 1
ZENET LTD (REGISTERED NUMBER: 05104153)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2017

30.4.17 30.4.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 2,488 2,927
Investment property 4 1,400,000 990,000
1,402,488 992,927

CURRENT ASSETS
Cash at bank 55,294 57,115

CREDITORS
Amounts falling due within one year 5 161,699 163,831
NET CURRENT LIABILITIES (106,405 ) (106,716 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,296,083
886,211

CREDITORS
Amounts falling due after more than one
year
6
464,993
469,424
NET ASSETS 831,090 416,787

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 8 727,896 317,896
Retained earnings 103,193 98,890
SHAREHOLDERS' FUNDS 831,090 416,787

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 notes form part of these financial statements

Page 2 continued...
ZENET LTD (REGISTERED NUMBER: 05104153)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 4 January 2018 and were signed by:





Mrs B Gross - Director


The notes form part of these financial statements

Page 3
ZENET LTD (REGISTERED NUMBER: 05104153)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2017

1. STATUTORY INFORMATION

Zenet 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Transition to financial reporting standards 102
The company has adopted FRS 102 Section 1A for the first time in the preparation of these accounts.
Accordingly the date of transition to FRS 102 was 1 May 2015 (beginning of the accounting period of
comparative financial year).

There are no material differences in determining the company's profit and loss under FRS 102 Section 1A and
the previous framework the company adopted (the Financial Reporting Standard for Smaller Entities (effective
January 2015)).

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognised initially at cost.

Subsequent to initial recognition:
a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair
value. Any gains or losses arising from change in fair value are recognised in profit or loss in the period that they
arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

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 statement of financial position date.


Page 4 continued...
ZENET LTD (REGISTERED NUMBER: 05104153)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2017

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2016
and 30 April 2017 9,371
DEPRECIATION
At 1 May 2016 6,444
Charge for year 439
At 30 April 2017 6,883
NET BOOK VALUE
At 30 April 2017 2,488
At 30 April 2016 2,927

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2016 990,000
Revaluations 410,000
At 30 April 2017 1,400,000
NET BOOK VALUE
At 30 April 2017 1,400,000
At 30 April 2016 990,000

Fair value at 30 April 2017 is represented by:

£   
Valuation in 2015 317,896
Valuation in 2017 410,000
Cost 672,104
1,400,000

Page 5 continued...
ZENET LTD (REGISTERED NUMBER: 05104153)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2017

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.17 30.4.16
£    £   
Trade creditors - 2,507
Taxation and social security 1,180 2,431
Other creditors 160,519 158,893
161,699 163,831

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.17 30.4.16
£    £   
Bank loans 464,993 469,424

7. SECURED DEBTS

The following secured debts are included within creditors:

30.4.17 30.4.16
£    £   
Bank loans 464,993 469,424

The mortgage is secured by a first charge over the company's investment properties and bear interest at fixed
rates.

8. RESERVES
Revaluation
reserve
£   
At 1 May 2016 317,896
Revaluation reserve 410,000

At 30 April 2017 727,896

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs B Gross.

Page 6