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REGISTERED NUMBER: 02701844 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

BONANZA PROPERTIES LIMITED

BONANZA PROPERTIES LIMITED (REGISTERED NUMBER: 02701844)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BONANZA PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







Director: Mr H J Vogel





Secretary: Vistra Cosec Limited





Registered office: 7th Floor
50 Broadway
London
SW1H 0DB





Registered number: 02701844 (England and Wales)





Accountants: Vistra Trust Company Limited
First Floor, Templeback
10 Temple back
Bristol
BS1 6FL

BONANZA PROPERTIES LIMITED (REGISTERED NUMBER: 02701844)

BALANCE SHEET
31 DECEMBER 2022

31/12/22 31/12/21
Notes €    €   
FIXED ASSETS
Tangible assets 4 1 25
Investment property 5 6,940,085 6,940,085
6,940,086 6,940,110

CURRENT ASSETS
Cash at bank 23,203 38,548

CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

(4,956,735

)

(4,922,168

)
NET CURRENT LIABILITIES (4,933,532 ) (4,883,620 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,006,554

2,056,490

CAPITAL AND RESERVES
Called up share capital 5,867,982 5,867,982
Retained earnings (3,861,428 ) (3,811,492 )
2,006,554 2,056,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 22 April 2024 and were signed by:





Mr H J Vogel - Director


BONANZA PROPERTIES LIMITED (REGISTERED NUMBER: 02701844)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Bonanza Properties 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.

The company's functional and presentational currency is Euro and the financial statements have been rounded to the nearest Euro (€).

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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental income.

Tangible fixed assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and Machinery - 25% Straight line

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.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price.

Foreign currencies
Assets and liabilities in foreign currencies are translated into Euro at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Euro at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

BONANZA PROPERTIES LIMITED (REGISTERED NUMBER: 02701844)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
€   
Cost
At 1 January 2022
and 31 December 2022 96
Depreciation
At 1 January 2022 71
Charge for year 24
At 31 December 2022 95
Net book value
At 31 December 2022 1
At 31 December 2021 25

5. INVESTMENT PROPERTY
Total
€   
Fair value
At 1 January 2022
and 31 December 2022 6,940,085
Net book value
At 31 December 2022 6,940,085
At 31 December 2021 6,940,085

As at 31 December 2022, the Company held three properties situated in Marbella, Spain.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/12/21
€    €   
Trade creditors 34,260 159
Other creditors 4,922,475 4,922,009
4,956,735 4,922,168