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Company registration number: 04519357
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UNAUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
31 JANUARY 2018
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ZENASTAR PROPERTIES LIMITED
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ZENASTAR PROPERTIES LIMITED
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CONTENTS
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Statement of financial position
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Notes to the financial statements
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ZENASTAR PROPERTIES LIMITED
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COMPANY INFORMATION
Page 1
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ZENASTAR PROPERTIES LIMITED
REGISTERED NUMBER:04519357
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STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2018
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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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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Page 2
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ZENASTAR PROPERTIES LIMITED
REGISTERED NUMBER:04519357
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2018
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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G F W Irvin
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The notes on pages 4 to 7 form part of these financial statements.
Page 3
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ZENASTAR PROPERTIES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
These financial statements have been prepared in compliance with FRS102 1a, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
Zenastar Properties Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page.
The company's functional and presentational currency is GBP.
The principal activity of the company during the year was that of property rental.
3.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Investment freehold property is included at market fair value. Gains are recognised in the statement of recognised gains and losses the income statement.All fixed assets are recorded at cost.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 4
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ZENASTAR PROPERTIES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
3.Accounting policies (continued)
Interest income is recognised in the Statement of income and retained earnings using the effective interest method.
All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.
Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
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The average monthly number of employees, including directors, during the year was 2 (2017 - 2).
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Investment freehold property
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Page 5
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ZENASTAR PROPERTIES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
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Creditors: Amounts falling due within one year
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Amounts owed to other participating interests
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Accruals and deferred income
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ncluded within other loans are bank loans and an amount owed to a director which are secured by a fixed charge over specific investment freehold property.
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Creditors: Amounts falling due after more than one year
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Secured loans
Included within other loans are bank loans which are secured by a fixed charge over specific investment freehold property.
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Page 6
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ZENASTAR PROPERTIES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
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Analysis of the maturity of loans is given below:
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Amounts falling due 1-2 years
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Amounts falling due after more than 5 years
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Financial assets measured at fair value through profit or loss
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Page 7
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