Abbreviated Company Accounts - IBIZA ESTATES LIMITED

IBIZA ESTATES LIMITED - Company Information

09707469 IBIZA ESTATES LIMITED 2016-07-31 false 2015-07-29 2016-07-31 true 09707469 2015-07-29 2016-07-31 09707469 2016-07-31 09707469 uk-gaap-cd-bus:Director1 2015-07-29 2016-07-31 09707469 uk-gaap-cd-bus:Director2 2015-07-29 2016-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-29 2016-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-07-31 iso4217:GBP shares

Registered Number 09707469

IBIZA ESTATES LIMITED

Abbreviated Accounts

31 July 2016

IBIZA ESTATES LIMITED Registered Number 09707469

Abbreviated Balance Sheet as at 31 July 2016

	Notes	2016
		£
Fixed assets
Tangible assets	2	2,781,961
		2,781,961
Current assets
Cash at bank and in hand		38,253
		38,253
Creditors: amounts falling due within one year	3	(523,413)
Net current assets (liabilities)		(485,160)
Total assets less current liabilities		2,296,801
Creditors: amounts falling due after more than one year	3	(2,323,800)
Total net assets (liabilities)		(26,999)
Capital and reserves
Called up share capital	4	2
Profit and loss account		(27,001)
Shareholders' funds		(26,999)

For the year ending 31 July 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 21 April 2017

And signed on their behalf by:
N A COWELL, Director

IBIZA ESTATES LIMITED Registered Number 09707469

Notes to the Abbreviated Accounts for the period ended 31 July 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents property rental income.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Motor vehicles – 25% Reducing balance

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortization is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

2Tangible fixed assets

	£
Cost
Additions	2,783,897
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2016	2,783,897
Depreciation
Charge for the year	1,936
On disposals	-
At 31 July 2016	1,936
Net book values
At 31 July 2016	2,781,961

3Creditors

	2016 £
Non-instalment debts due after 5 years	2,323,800

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £
2 Ordinary shares of £1 each	2