IRIS Accounts Production v24.1.0.578 11612665 director 1.11.22 31.10.23 31.10.23 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh116126652022-10-31116126652023-10-31116126652022-11-012023-10-31116126652021-10-31116126652021-11-012022-10-31116126652022-10-3111612665ns15:EnglandWales2022-11-012023-10-3111612665ns14:PoundSterling2022-11-012023-10-3111612665ns10:Director12022-11-012023-10-3111612665ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3111612665ns10:SmallEntities2022-11-012023-10-3111612665ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3111612665ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3111612665ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3111612665ns10:FullAccounts2022-11-012023-10-3111612665ns10:OrdinaryShareClass12022-11-012023-10-3111612665ns10:RegisteredOffice2022-11-012023-10-3111612665ns5:CurrentFinancialInstruments2023-10-3111612665ns5:CurrentFinancialInstruments2022-10-3111612665ns5:Non-currentFinancialInstruments2023-10-3111612665ns5:Non-currentFinancialInstruments2022-10-3111612665ns5:ShareCapital2023-10-3111612665ns5:ShareCapital2022-10-3111612665ns5:FurtherSpecificReserve3ComponentTotalEquity2023-10-3111612665ns5:FurtherSpecificReserve3ComponentTotalEquity2022-10-3111612665ns5:RetainedEarningsAccumulatedLosses2023-10-3111612665ns5:RetainedEarningsAccumulatedLosses2022-10-3111612665ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3111612665ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3111612665ns5:Secured2023-10-3111612665ns5:Secured2022-10-3111612665ns10:OrdinaryShareClass12023-10-31
REGISTERED NUMBER: 11612665 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2023

FOR

EBIK PROPERTIES LIMITED

EBIK PROPERTIES LIMITED (REGISTERED NUMBER: 11612665)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EBIK PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 31st October 2023







DIRECTOR: Mr E Breadner





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 11612665 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

EBIK PROPERTIES LIMITED (REGISTERED NUMBER: 11612665)

BALANCE SHEET
31st October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 2,081,937 1,570,000

CURRENT ASSETS
Debtors 5 1,000 -
Cash at bank 71 13,216
1,071 13,216
CREDITORS
Amounts falling due within one year 6 (573,566 ) (500,389 )
NET CURRENT LIABILITIES (572,495 ) (487,173 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,509,442

1,082,827

CREDITORS
Amounts falling due after more than one
year

7

(1,269,036

)

(793,877

)

PROVISIONS FOR LIABILITIES (95,446 ) (101,688 )
NET ASSETS 144,960 187,262

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 286,338 -
Retained earnings (141,478 ) 187,162
SHAREHOLDERS' FUNDS 144,960 187,262

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

EBIK PROPERTIES LIMITED (REGISTERED NUMBER: 11612665)

BALANCE SHEET - continued
31st October 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 31st July 2024 and were signed by:





Mr E Breadner - Director


EBIK PROPERTIES LIMITED (REGISTERED NUMBER: 11612665)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st October 2023


1. STATUTORY INFORMATION

Ebik Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 11612665. The address of the registered office is 100 Barbirolli Square, Manchester, M2 3BD and the principal place of business is 210 Clowes Street, Salford. M3 5NF.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is presented net of value-added-tax, rebates and discounts.

Rental income from operating leases (net of any incentives given to the lessee), is recognised on a straight line basis over the term of the lease.

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 profit and loss account, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors/ creditors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade
and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent
to initial recognition they are measured at amortised cost using the effective interest method, less any
impairment losses in the case of trade debtors.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

EBIK PROPERTIES LIMITED (REGISTERED NUMBER: 11612665)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st October 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st November 2022 1,570,000
Additions 671,937
Disposals (160,000 )
At 31st October 2023 2,081,937
NET BOOK VALUE
At 31st October 2023 2,081,937
At 31st October 2022 1,570,000

Fair value at 31st October 2023 is represented by:
£   
Valuation in 2019 19,779
Valuation in 2020 112,533
Valuation in 2021 130,000
Valuation in 2022 144,438
Cost 1,675,187
2,081,937

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,163,250 1,163,250

The investment property was valued on an open market basis on 31st October 2022 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,000 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 20,000 20,000
Amounts owed to participating interests - 30,000
Other creditors 553,566 450,389
573,566 500,389

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,269,036 793,877

EBIK PROPERTIES LIMITED (REGISTERED NUMBER: 11612665)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st October 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,289,036 813,877

Paragon Bank PLC holds fixed and floating charges dated 08/03/2019, 12/04/2019, 30/08/2019, 29/05/2020, 01/04/2021, 04/06/2021 and 04/04/2023 over the assets of the company.

The Mortgage Lender Limited holds fixed and floating charges dated 14/12/2018 and 29/03/2019 over the assets of the company.

Together Commercial Finance Limited holds fixed and floating charges dated 11/03/2019 and 14/10/2019 over the assets of the company.The fixed and floating charge dated 14/10/2019, has now been satisfied due to the sale of the property it related to.

One Savings Bank PLC holds fixed and floating charges dated 15/10/2020 over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1.00 100 100

10. RESERVES
Fair
value
reserve
£   
Non-disributable reserves 286,338

At 31st October 2023 286,338

11. RELATED PARTY DISCLOSURES

At the year end, the company owed £30,000 (2022 £30,000) to 614 GA Ltd. The sole director of 614 GA Ltd is also the sole director of EBIK Properties Ltd.