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REGISTERED NUMBER: 11494010 (England and Wales)











Financial Statements

for the Year Ended 31 August 2023

for

IBIZA PROPERTIES LTD

IBIZA PROPERTIES LTD (REGISTERED NUMBER: 11494010)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IBIZA PROPERTIES LTD

Company Information
for the Year Ended 31 August 2023







DIRECTOR: Mr R J J Jackson





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 11494010 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

IBIZA PROPERTIES LTD (REGISTERED NUMBER: 11494010)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 132,500 119,439

CURRENT ASSETS
Debtors 5 179 -
Cash at bank 1,013 4,141
1,192 4,141
CREDITORS
Amounts falling due within one year 6 33,770 33,607
NET CURRENT LIABILITIES (32,578 ) (29,466 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,922

89,973

CREDITORS
Amounts falling due after more than one
year

7

(69,730

)

(69,071

)

PROVISIONS FOR LIABILITIES 9 (9,515 ) (4,750 )
NET ASSETS 20,677 16,152

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserves 10 28,546 20,250
Retained earnings (7,969 ) (4,198 )
SHAREHOLDERS' FUNDS 20,677 16,152

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

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



Mr R J J Jackson - Director


IBIZA PROPERTIES LTD (REGISTERED NUMBER: 11494010)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Ibiza Properties Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 119,439
Revaluations 13,061
At 31 August 2023 132,500
NET BOOK VALUE
At 31 August 2023 132,500
At 31 August 2022 119,439

IBIZA PROPERTIES LTD (REGISTERED NUMBER: 11494010)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2022 25,000
Valuation in 2023 13,061
Cost 94,439
132,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 179 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other creditors 25,469 25,469
Directors' current accounts 6,465 6,302
Accruals and deferred income 1,836 1,836
33,770 33,607

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans more 5 yrs non-inst 69,730 69,071

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 69,730 69,071

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 69,730 69,071

Bank loans are secured against investment properties in which they relate.

9. PROVISIONS FOR LIABILITIES
31.8.23 31.8.22
£    £   
Deferred tax 9,515 4,750

IBIZA PROPERTIES LTD (REGISTERED NUMBER: 11494010)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2022 4,750
Provided during year 4,765
Balance at 31 August 2023 9,515

10. RESERVES


11. RELATED PARTY DISCLOSURES

As at the balance sheet date, included in creditors due in one year is £25,469 (2022: £25,469) due to JKO Property Investments Limited, a company under common control by the director.

As at the balance sheet date, included in creditors due in one year is £6,465 (2022: £6,302) due and payable to the director. The amount is interest free and repayable on demand.