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Company registration number: |
12558120
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IBEX PROPERTY LIMITED
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REPORT OF THE DIRECTORS' AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 April 2024 |
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IBEX PROPERTY LIMITED |
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BALANCE SHEET |
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AS AT 30 April 2024
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2024 |
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2023 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS | | | | | | | | | | | |
Tangible assets | | | 3 | | | 417,887 | | | | 417,887 | |
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| | | | | | | 417,887 | | | | 417,887 | |
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CURRENT ASSETS |
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Cash at bank and in hand | | | | 10,107 | | | | 4,405 | | | | |
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| | | | | 10,107 | | | | 4,405 | | | |
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CREDITORS |
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Amounts falling due within one year |
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(124,107) |
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(123,050) |
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NET CURRENT ASSETS |
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(114,000) |
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(118,645) |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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303,887 |
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299,242 |
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Creditors falling due after one year | | | | | (277,480) | | | | (277,480) | |
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PROVISIONS FOR LIABILITIES | | | | | (4,716) | | | | (4,716) | |
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NET ASSETS |
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21,691 |
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17,046 |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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100 |
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Profit and loss account |
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21,591 |
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16,946 |
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SHAREHOLDERS FUNDS |
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21,691 |
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17,046 |
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For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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All the members have consented to the preparation of abridged financial statements for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006. | | | | | | | |
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The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime. | | | | | | | |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 20 November 2024 and signed on its behalf. | | | | | | | |
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.......................................................................... |
Mrs Sin Ling Ho |
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20 November 2024
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The annexed notes form part of these financial statements. | | | | | | | |
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IBEX PROPERTY LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2024 |
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1. |
Accounting policies |
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| Statutory information | | | | | | | |
| Ibex Property 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 presentation currency of the financial statements is the £ sterling. | |
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| Statement of compliance | | | | | | | |
| These financial statements have been prepared in accordance with the provisions of Section 1A 'Small entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There were no material departures from the standard. | |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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| Turnover | | | | | | | | | |
| Turnover comprises the income received or receivable for property rental. | |
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| Deferred Taxation | | | | | | | | |
| Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences. | |
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2. | Employees | | | |
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| The average number of persons employed by the company (including directors) during the year was 2. |
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4. | Creditors due after more than one year | | | | | |
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| Creditors include bank loans which are secured of £277,480 (2023 £66,750). The bank loans are secured by a fixed and floating charge over the company's assets. |
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5. | Related Party Transactions | | | | | | | | |
| There were no related party transactions. | |
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6. | Directors' advances, credits and guarantees | | | | | | | | |
| There were no transactions with directors. | |
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