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
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
I&B Properties LTD
Statement of financial position
as at 30 September 2023
Investment property
1,334,110
1,132,110
Cash at bank and in hand
8,929
4,129
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)
-
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
I&B Properties LTD
Notes to the Accounts
for the year ended 30 September 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Fair value at 1 October 2022
1,132,110
Net gain from fair value adjustments
202,000
At 30 September 2023
1,334,110
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
3,170
1
Loans from directors
720
600
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
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
£
Additional provisions made during the period
44,100
At 30 September 2023
44,100
Deferred tax on the gain on investment property.
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).