Registered number
08140057
IB PROPERTY INVESTMENT (UK) LTD
Filleted Accounts
31 July 2024
IB PROPERTY INVESTMENT (UK) LTD
Registered number: 08140057
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,040 2,549
Investments 4 908,812 412,252
910,852 414,801
Current assets
Debtors 5 620,200 620,800
Cash at bank and in hand 1,967 4,488
622,167 625,288
Creditors: amounts falling due within one year 6 (17,314) (22,301)
Net current assets 604,853 602,987
Total assets less current liabilities 1,515,705 1,017,788
Creditors: amounts falling due after more than one year 7 (1,568,033) (1,066,968)
Net liabilities (52,328) (49,180)
Capital and reserves
Called up share capital 1 1
Revaluation reserve 8 19,856 19,856
Profit and loss account (72,185) (69,037)
Shareholder's funds (52,328) (49,180)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Alparslan Bali
Director
Approved by the board on 28 April 2025
IB PROPERTY INVESTMENT (UK) LTD
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Motor vehicles 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 13,522 5,800 19,322
At 31 July 2024 13,522 5,800 19,322
Depreciation
At 1 August 2023 13,293 3,480 16,773
Charge for the year 45 464 509
At 31 July 2024 13,338 3,944 17,282
Net book value
At 31 July 2024 184 1,856 2,040
At 31 July 2023 229 2,320 2,549
4 Investments
Other
investments
£
Cost
At 1 August 2023 412,252
Additions 496,560
At 31 July 2024 908,812
5 Debtors 2024 2023
£ £
Other debtors 620,200 620,800
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 16,420 21,395
Taxation and social security costs 894 906
17,314 22,301
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,833 30,833
Other creditors 1,547,200 1,036,135
1,568,033 1,066,968
8 Revaluation reserve 2024 2023
£ £
At 1 August 2023 19,856 19,856
At 31 July 2024 19,856 19,856
9 Other information
IB PROPERTY INVESTMENT (UK) LTD is a private company limited by shares and incorporated in England. Its registered office is:
3 Northlands
Potters Bar
Hertfordshire
UK
EN6 5DF
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