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REGISTERED NUMBER: 11782907 (England and Wales)















IB Property Ltd

Abridged Unaudited Financial Statements

for the Year Ended 31 January 2024






IB Property Ltd (Registered number: 11782907)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


IB Property Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mr I Bhatti





REGISTERED OFFICE: 35 St Matthews Parade
Northampton
Northamptonshire
NN2 7HE





REGISTERED NUMBER: 11782907 (England and Wales)





ACCOUNTANTS: Vanmali & Co Ltd
Chartered Certified Accountants
25A High Street
Daventry
Northamptonshire
NN11 4BG

IB Property Ltd (Registered number: 11782907)

Abridged Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,211,493 987,303

CURRENT ASSETS
Debtors - 228
Cash at bank 19,458 31,480
19,458 31,708
CREDITORS
Amounts falling due within one year 44,807 39,233
NET CURRENT LIABILITIES (25,349 ) (7,525 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,186,144

979,778

CREDITORS
Amounts falling due after more than one
year

5

1,104,232

940,718
NET ASSETS 81,912 39,060

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 81,902 39,050
SHAREHOLDERS' FUNDS 81,912 39,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

IB Property Ltd (Registered number: 11782907)

Abridged Balance Sheet - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 11 October 2024 and were signed by:





Mr I Bhatti - Director


IB Property Ltd (Registered number: 11782907)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

IB Property 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

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.

Freehold property
Land and buildings are held as investment property and are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is recognized as profit or loss in the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

IB Property Ltd (Registered number: 11782907)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 988,264
Additions 224,670
At 31 January 2024 1,212,934
DEPRECIATION
At 1 February 2023 961
Charge for year 480
At 31 January 2024 1,441
NET BOOK VALUE
At 31 January 2024 1,211,493
At 31 January 2023 987,303

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 924,710 769,462