Fibco Properties Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05007986 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

FIBCO PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

A J Krausz

SECRETARY:

Mrs M 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

3

688

809

Investment property

4

571,605

571,605

572,293

572,414

CURRENT ASSETS

Cash at bank

2,354

5,967

CREDITORS

Amounts falling due within one year

5

229,799

218,780

NET CURRENT LIABILITIES

(227,445

)

(212,813

)

TOTAL ASSETS LESS CURRENT LIABILITIES

344,848

359,601

CREDITORS

Amounts falling due after more than one year

6

234,817

253,122

NET ASSETS

110,031

106,479

CAPITAL AND RESERVES

Called up share capital

8

1

1

Revaluation reserve

9

50,000

50,000

Retained earnings

60,030

56,478

SHAREHOLDERS' FUNDS

110,031

106,479

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 6 June 2018 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 July 2016

and 30 June 2017

5,624

DEPRECIATION

At 1 July 2016

4,815

Charge for year

121

At 30 June 2017

4,936

NET BOOK VALUE

At 30 June 2017

688

At 30 June 2016

809

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2016

and 30 June 2017

571,605

NET BOOK VALUE

At 30 June 2017

571,605

At 30 June 2016

571,605

Fair value at 30 June 2017 is represented by:

£

Valuation in 2015

50,000

Cost

521,605

571,605

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade creditors

8,823

8,823

Taxation and social security

2,742

2,735

Other creditors

218,234

207,222

229,799

218,780

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.17

30.6.16

£

£

Bank loans

234,817

253,122

30.6.17

30.6.16

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loan

67,050

67,050

Repayable by instalments

Bank loans more 5 yr by instal

167,767

186,072

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.17

30.6.16

£

£

Bank loans

234,817

253,122

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

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.17

30.6.16

value:

£

£

1

Ordinary

£1

1

1

9.

RESERVES

Revaluation

reserve

£

At 1 July 2016

and 30 June 2017

50,000

10.	ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is G Goldshmit.