Zolger Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08095569 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2019

FOR

ZOLGER DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

Mrs M Wiesenberg

R Wiesenberg

A A Wiesenberg

Mrs T White

N Wiesenberg

REGISTERED OFFICE:

88 Crawford Street

London

London

W1H 2EJ

REGISTERED NUMBER:

08095569 (England and Wales)

ACCOUNTANTS:

Cameron Baum Hollander Limited

88 Crawford Street

London

W1H 2EJ

FIXED ASSETS

Investments

4

71

1

Investment property

5

2,250,000

2,585,000

2,250,071

2,585,001

CURRENT ASSETS

Stocks

3,296,130

3,237,770

Debtors

6

870,588

841,310

Cash at bank

491,694

29,956

4,658,412

4,109,036

CREDITORS

Amounts falling due within one year

7

275,185

152,316

NET CURRENT ASSETS

4,383,227

3,956,720

TOTAL ASSETS LESS CURRENT LIABILITIES

6,633,298

6,541,721

CREDITORS

Amounts falling due after more than one year

8

(327,600

)

-

PROVISIONS FOR LIABILITIES

(274,233

)

(265,733

)

NET ASSETS

6,031,465

6,275,988

CAPITAL AND RESERVES

Called up share capital

500

500

Fair value reserve

9

1,799,158

1,542,658

Retained earnings

4,231,807

4,732,830

SHAREHOLDERS' FUNDS

6,031,465

6,275,988

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 January 2020 and were signed on its behalf by:

N Wiesenberg - Director

1.	STATUTORY INFORMATION

Zolger Developments 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 as modified by the revaluation of certain assets.

The financial statements are prepared in UK Pound Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of gross rents and services receivable, net of discounts, rebates and

value added taxes.

Investment property

Investment properties are initially measured at cost on acquisition and subsequently at fair value as at each

accounts date. Changes in fair value are recognised in the income statement. Deferred taxation is provided on

these gains at the rate expected to apply when the property is sold and charged to the profit and loss account.

Stocks

Stocks are valued at the lower of cost and net realisable value.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Fixed asset investments in subsidiaries and associates have been measured at cost less provision for

impairments in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2018

1

Additions

70

At 30 April 2019

71

NET BOOK VALUE

At 30 April 2019

71

At 30 April 2018

1

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2018

2,585,000

Disposals

(600,000

)

Revaluations

265,000

At 30 April 2019

2,250,000

NET BOOK VALUE

At 30 April 2019

2,250,000

At 30 April 2018

2,585,000

Fair value at 30 April 2019 is represented by:

£

Valuation in 2019

1,000,000

Cost

1,250,000

2,250,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

805,000

761,060

Other debtors

61,134

80,250

VAT

4,454

-

870,588

841,310

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

85,196

21,627

Tax

90,000

101,928

Social security and other taxes

1,085

2,411

Other creditors

94,734

22,850

Credit card

670

-

Accruals and deferred income

3,500

3,500

275,185

152,316

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other loans - 2-5 years

327,600

-

9.

RESERVES

Fair

value

reserve

£

At 1 May 2018

1,542,658

Fair value transfers

256,500

At 30 April 2019

1,799,158

10.	RELATED PARTY DISCLOSURES

During the year the company sold two properties to the company's SASS pension scheme at open market value,

as independently verified by RICS surveyors.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs M Wiesenberg.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Zolger Developments Limited for the year ended 30 April 2019 which comprise the Income

Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Zolger Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Zolger Developments Limited and state those matters that we have agreed to state to the Board of Directors of Zolger Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Zolger Developments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Zolger Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Zolger Developments Limited. You consider that Zolger Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Zolger Developments Limited. 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 financial statements.

Cameron Baum Hollander Limited

88 Crawford Street

London

W1H 2EJ

31 January 2020