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Company Registration No. 12196187 (England and Wales)
I&B Properties LTD Unaudited accounts for the year ended 30 September 2023
I&B Properties LTD Unaudited accounts Contents
Page
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I&B Properties LTD Company Information for the year ended 30 September 2023
Directors
Imad AL-HUSSEIN Ban AL-KHAIRALLA
Company Number
12196187 (England and Wales)
Registered Office
159 WIGTON LANE LEEDS LS17 8SH ENGLAND
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I&B Properties LTD Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
1,334,110 
1,132,110 
Current assets
Debtors
- 
(366)
Cash at bank and in hand
8,929 
4,129 
8,929 
3,763 
Creditors: amounts falling due within one year
(5,790)
(7,501)
Net current assets/(liabilities)
3,139 
(3,738)
Total assets less current liabilities
1,337,249 
1,128,372 
Creditors: amounts falling due after more than one year
(1,115,609)
(1,122,610)
Provisions for liabilities
Other provisions
(44,100)
- 
Net assets
177,540 
5,762 
Capital and reserves
Called up share capital
(100)
(100)
Profit and loss account
177,640 
5,862 
Shareholders' funds
177,540 
5,762 
For the year ending 30 September 2023 the company was entitled to exemption from audit 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by
Ban AL-KHAIRALLA Director Company Registration No. 12196187
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I&B Properties LTD Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
I&B Properties LTD is a private company, limited by shares, registered in England and Wales, registration number 12196187. The registered office is 159 WIGTON LANE, LEEDS, LS17 8SH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
4
Investment property
2023 
£ 
Fair value at 1 October 2022
1,132,110 
Net gain from fair value adjustments
202,000 
At 30 September 2023
1,334,110 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
(366)
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
3,170 
1 
Loans from directors
720 
600 
Accruals
1,900 
6,900 
5,790 
7,501 
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I&B Properties LTD Notes to the Accounts for the year ended 30 September 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
815,119 
815,119 
Loans from directors
300,490 
307,491 
1,115,609 
1,122,610 
The above bank loans are secured by fixed charges over the company's assets, held by The Mortgage Works and Kensington Mortgage Company. The director loans are used to fund purchasing the properties.
8
Provisions for liabilities
£ 
At 1 October 2022
- 
Additional provisions made during the period
44,100 
At 30 September 2023
44,100 
Deferred tax on the gain on investment property.
9
Controlling party
The directors are also shareholders of the company with 50/50 split.
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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