Fibco Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05007986 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

FIBCO PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

A J Krausz

REGISTERED OFFICE:

31 Castleview Road

Castle View Road

Canvey Island

England

SS8 9FD

REGISTERED NUMBER:

05007986 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

4

259

305

Investment property

5

1,504,586

1,500,000

1,504,845

1,500,305

CURRENT ASSETS

Debtors

6

407,196

407,196

Cash at bank

2,625

4,394

409,821

411,590

CREDITORS

Amounts falling due within one year

7

(69,760

)

(58,358

)

NET CURRENT ASSETS

340,061

353,232

TOTAL ASSETS LESS CURRENT LIABILITIES

1,844,906

1,853,537

CREDITORS

Amounts falling due after more than one year

8

(1,104,354

)

(1,107,455

)

PROVISIONS FOR LIABILITIES

(128,475

)

(128,475

)

NET ASSETS

612,077

617,607

CAPITAL AND RESERVES

Called up share capital

10

1

1

Revaluation reserve

11

699,681

699,681

Retained earnings

(87,605

)

(82,075

)

SHAREHOLDERS' FUNDS

612,077

617,607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2024 and were signed by:

A J Krausz - Director

1.	STATUTORY INFORMATION

Fibco Properties 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 Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Investment properties

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 July 2022

and 30 June 2023

5,624

DEPRECIATION

At 1 July 2022

5,319

Charge for year

46

At 30 June 2023

5,365

NET BOOK VALUE

At 30 June 2023

259

At 30 June 2022

305

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2022

1,500,000

Additions

4,586

At 30 June 2023

1,504,586

NET BOOK VALUE

At 30 June 2023

1,504,586

At 30 June 2022

1,500,000

The director has revalued the property during the year.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Other debtors

407,196

407,196

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade creditors

8,822

8,822

Tax

877

877

Other creditors

40,703

30,141

Directors' current accounts

17,678

17,678

Accrued expenses

1,680

840

69,760

58,358

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.23

30.6.22

£

£

Bank loans - 2-5 years

43,406

46,507

Bank loan

1,060,948

1,060,948

1,104,354

1,107,455

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loan

1,060,948

1,060,948

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.23

30.6.22

£

£

Bank loans

1,104,354

1,107,455

1. The bank loans are secured by a first charge on the company's leasehold properties.

2. Under the bank loan, £43,405. was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.23

30.6.22

value:

£

£

1

Ordinary

£1

1

1

11.

RESERVES

Revaluation

reserve

£

At 1 July 2022

and 30 June 2023

699,681

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs Gitty Goldshmit.