ACCOUNTS - Final Accounts preparation

Company registration number: 11854825

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	1B PROPERTY LIMITED


1B PROPERTY LIMITED

COMPANY INFORMATION

Director	B Asadi


Registered number	11854825


Registered office	4th Floor
	95 Gresham Street
	London
	EC2V 7AB


Accountants	Menzies LLP
	Chartered Accountants
	Ashcombe House
	5 The Crescent
	Leatherhead
	Surrey
	KT22 8DY


1B PROPERTY LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 5


1B PROPERTY LIMITED REGISTERED NUMBER:11854825

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investments	4		2		2
Investment property	5		700,000		633,823
			700,002		633,825
Current assets
Debtors: amounts falling due within one year	6	2,450,759		1,133,849
Cash at bank and in hand		51,946		427,854
		2,502,705		1,561,703
Creditors: amounts falling due within one year	7	(35,005)		(745,955)
Net current assets			2,467,700		815,748
Total assets less current liabilities			3,167,702		1,449,573
Provisions for liabilities
Deferred tax		(6,235)		-
			(6,235)		-
Net assets			3,161,467		1,449,573

Page 1


1B PROPERTY LIMITED REGISTERED NUMBER:11854825

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

		2024		2023
		£		£

Capital and reserves
Allotted, called up and fully paid share capital	1	1
Profit and loss account	3,161,466	1,449,572
	3,161,467	1,449,573

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

B Asadi

Director

Date: 17 December 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2


1B PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

1B Property Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is given in the company information page of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is derived from rent receivable from investment properties and is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.

2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.4

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.5

Valuation of investments

Investments in subsidiaries are recognised at cost.

Page 3


1B PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including the director, during the year was 1 (2023 - 1).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2024	2
	At 31 December 2024	2

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 January 2024	633,823
	Surplus on revaluation	66,177
	At 31 December 2024	700,000

Investment property was valued on open market basis on 31 December 2024 by the director.

Page 4


1B PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	2,500	-
Amounts owed by group undertakings	2,448,259	1,126,014
Deferred taxation	-	7,835
	2,450,759	1,133,849

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank overdrafts	-	15
Trade creditors	-	1,116
Amounts owed to group undertakings	11,764	533,622
Corporation tax	12,974	-
Other taxation and social security	-	5,988
Other creditors	6,637	198,501
Accruals and deferred income	3,630	6,713
	35,005	745,955

8.	Related party transactions
	Included within other creditors are the following transaction with the director.

		2024	2023
		£	£

Balance outstanding at start of year	198,501	1
Amounts advanced	104,433	367,190
Amounts repaid	(296,297)	(168,690)
Balance outstanding at end of year	6,637	198,501

Interest is not being charged on the loan. The loan is repayable on demand.

Page 5