Zestor Limited Accounts






Zestor Limited
	Company No. 01783329
		Information for Filing with The Registrar
		31 March 2018

The Directors present their report and the accounts for the year ended 31 March 2018.

Principal activities
The principal activity of the company during the year under review was holding of investment property.




Directors

The Directors who served at any time during the year were as follows:

Elaine Hoare
Stuart Hoare


































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

Elaine Hoare
Director
28 November 2018

at	31 March 2018

Company No.		01783329	Notes	2018	2017
				£	£
Fixed assets

	Tangible assets		3	-	-
	Investment property		4	255,000	250,000

				255,000	250,000
Current assets

	Debtors		5	4,340	5,160

	Cash at bank and in hand			6,870	2,565
				11,210	7,725
Creditors: Amount falling due within one year			6	(16,310)	(1,901)
Net current (liabilities)/assets				(5,100)	5,824
Total assets less current liabilities				249,900	255,824
Creditors: Amounts falling due after more than one year			7	(68,984)	(83,693)
Provisions for liabilities
	Deferred taxation		9	(35,229)	(34,229)

Net assets				145,687	137,902

Capital and reserves
	Called up share capital			599	599


	Non-distributable reserve		10	140,917	136,917
	Profit and loss account		10	4,171	386

Total equity				145,687	137,902


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the 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 accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 28 November 2018

And signed on its behalf by:

Stuart Hoare
Director

for the year ended 31 March 2018

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

20% Straight line

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.
No depreciation is provided in respect of investment properties.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

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.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

2	Employees
			2018	2017
			Number	Number
		The average number of persons employed during the year :	2	2

3	Tangible fixed assets
			Plant and machinery	Total
			£	£
		Cost or revaluation
		At 1 April 2017	1,173	1,173




		At 31 March 2018	1,173	1,173
		Depreciation
		At 1 April 2017	1,173	1,173




		At 31 March 2018	1,173	1,173
		Net book values
		At 31 March 2018	-	-
		At 31 March 2017	-	-

Investment property

Freehold Investment Property

Valuation

At 1 April 2017

250,000

Fair value adjustment

5,000

At 31 March 2018

255,000

Freehold Investment Property

The freehold investment property was acquired on 28 June 1996. The property was revalued on 31 March 2018 by Stuart Hoare.

5	Debtors
			2018	2017
			£	£
		Trade debtors	4,340	5,160







			4,340	5,160

6	Creditors:
		amounts falling due within one year
			2018	2017
			£	£

		Bank loans and overdrafts	7,361	-




		Corporation tax	2,295	1,046
		Other taxes and social security	100	500
		Loans from directors	6,355	355
		Other creditors	199	-

			16,310	1,901

7	Creditors:
		amounts falling due after more than one year
			2018	2017
			£	£

		Bank loans and overdrafts	68,984	83,693






			68,984	83,693

		Liabilities repayable in more than five years after the balance sheet date
		Amount repayable by instalments	36,791	45,879

			36,791	45,879

		Security is fixed and floating charges against the investment property held by the company.

8	Creditors: secured liabilities
			2018	2017
			£	£
		The aggregate amount of secured liabilities included within creditors	76,345	83,693

9	Provisions for liabilities
		Deferred taxation

			Accelerated capital allowances, losses and other timing differences	Arising from revaluation	Total
			£	£	£
		At 1 April 2017	34,229	-	34,229
		Charge to the profit and loss account for the period	1,000		1,000

		At 31 March 2018	35,229	-	35,229



			2018		2017
			£		£



		Other timing differences	35,229		22,229
			35,229		22,229








		Other deferred tax timing differences refers to the fair value adjustment on freehold investment property.

10	Reserves
			Capital redemption reserve	Total other reserves
			£	£
		At 1 April 2016	88,917	88,917


		Transfers	48,000	48,000
		At 31 March 2017 and 1 April 2017	136,917	136,917


		Transfers	4,000	4,000
		At 31 March 2018	140,917	140,917


		Capital redemption reserve - records the nominal value of shares repurchased by the company.

		Profit and loss account - includes all current and prior period retained profits and losses.

Related party disclosures

Controlling party

Immediate controlling party

Board of directors

Additional information

Its registered number is:

01783329

Its registered office is:

87 London Road

Cowplain

Waterlooville

PO8 8XB

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