Company Registration No. 08463207 (England and Wales)
ZEME CAPITAL LIMITED
Unaudited abbreviated financial statements
For the year ended 31 March 2015
ZEME CAPITAL LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ZEME CAPITAL LIMITED
ABBREVIATED BALANCE SHEET
As at 31 March 2015
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
5,020,222
5,001,004
Investments
2
10,578,643
5,878,380
15,598,865
10,879,384
Current assets
Cash at bank and in hand
102,584
156,615
Creditors: amounts falling due within one year
(2,300)
(32)
Net current assets
100,284
156,583
Total assets less current liabilities
15,699,149
11,035,967
Creditors: amounts falling due after more than one year
(15,407,783)
(11,109,999)
291,366
(74,032)
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
291,365
(74,033)
Shareholders' funds
291,366
(74,032)
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 27 November 2015.
..............................
Mr Nicholas Lowcock
Director
Company Registration No. 08463207
- 1 -
ZEME CAPITAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
For the year ended 31 March 2015
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.5
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.7
Investment properties are shown at their open market value based on the latest valuation performed and approved by the directors. The surplus or deficit arising from the annual revaluation is transferred to the revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
In accordance with Standard Statement of Accounting Practice 19 depreciation is not provided on freehold or leasehold properties with more than 20 years unexpired term. This is a departure from provisions of the Companies Act 2006, and is required in order to give a true and fair view. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 April 2014
5,001,004
5,878,380
10,879,384
Additions
19,218
5,079,514
5,098,732
Disposals
-
(379,251)
(379,251)
At 31 March 2015
5,020,222
10,578,643
15,598,865
At 31 March 2014
5,001,004
5,878,380
10,879,384
- 2 -
ZEME CAPITAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
For the year ended 31 March 2015
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1 ordinary share of £1 each
1
1
- 3 -