Zouq Properties Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 13299219 (England and Wales)

ZOUQ PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

Page

Balance Sheet

1

Notes to the Financial Statements

2

Fixed assets

Investment property

4

3,462,702

1,567,764

Current assets

Debtors

5

7,077

226,427

Cash at bank and in hand

886,487

1,199,016

893,564

1,425,443

Creditors

Amounts falling due within one year

6

(4,783,554

)

(2,995,868

)

Net current liabilities

(3,889,990

)

(1,570,425

)

Total assets less current liabilities

(427,288

)

(2,661

)

Capital and reserves

Called up share capital

1

1

Retained earnings

(427,289

)

(2,662

)

(427,288

)

(2,661

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 30 October 2023 and were signed by:

Mr Mohammed Azhar Zouq - Director

1.	Statutory information

Zouq Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

13299219

Registered office:

Unit 2b Moss Bridge Road

Rochdale

OL16 5LX

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

4.	Investment property

Total

£

Fair value

At 1 February 2022

1,567,764

Additions

2,287,605

Disposals

(392,667

)

At 31 January 2023

3,462,702

Net book value

At 31 January 2023

3,462,702

At 31 January 2022

1,567,764

The investment properties have been valued by the director and reflects the open market value in relation to use.

5.

Debtors: amounts falling due within one year

2023

2022

£

£

Other debtors

7,077

226,427

6.

Creditors: amounts falling due within one year

2023

2022

£

£

Trade creditors

8,377

1,984

Other creditors

4,775,177

2,993,884

4,783,554

2,995,868

7.	Related party disclosures

Included in other creditors is an amount of £4,774,229 (2022: £2,992,936) owed to Pakeeza Dairies Limited in which Mohammed Azhar Zouq is a director. The loan is interest free, unsecured and repayable on demand.