REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2019 |
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for |
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BONANZA PROPERTIES LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2019 |
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for |
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BONANZA PROPERTIES LIMITED |
BONANZA PROPERTIES LIMITED (REGISTERED NUMBER: 02701844) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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BONANZA PROPERTIES LIMITED |
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Company Information |
for the Year Ended 31 December 2019 |
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Director: |
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Secretary: |
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Registered office: |
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Registered number: |
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Accountants: |
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First Floor, Templeback |
10 Temple back |
Bristol |
BS1 6FL |
BONANZA PROPERTIES LIMITED (REGISTERED NUMBER: 02701844) |
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Balance Sheet |
31 December 2019 |
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31/12/19 | 31/12/18 |
Notes | € | € |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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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 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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BONANZA PROPERTIES LIMITED (REGISTERED NUMBER: 02701844) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
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1. | Statutory information |
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Bonanza Properties Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Euro (€). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
tax and other sales taxes. |
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Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental |
income. |
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Tangible fixed assets |
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and |
impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation |
less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
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Plant and machinery - 20% reducing balance |
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Investment property |
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. |
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An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and |
accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit |
or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income |
to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a |
revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess |
shall be recognised in profit or loss. |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial |
Instruments Issues' of FRS102 to all of its financial instruments. |
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Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual |
provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and |
settle the liability simultaneously. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered |
into. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction |
price. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from |
suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are |
presented as non-current liabilities. Trade creditors are initially recognised at transaction price. |
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Cash and cash equivalents |
Cash and cash equivalents comprise of cash at bank. |
BONANZA PROPERTIES LIMITED (REGISTERED NUMBER: 02701844) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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2. | Accounting policies - continued |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into euros at the rates of exchange ruling at the balance sheet date. |
Transactions in foreign currencies are translated into euros at the rate of exchange ruling at the date of transaction. Exchange |
differences are taken into account in arriving at the operating result. |
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3. | Employees and directors |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | Tangible fixed assets |
Plant and |
machinery |
etc |
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Cost |
At 1 January 2019 |
and 31 December 2019 |
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Depreciation |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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Net book value |
At 31 December 2019 |
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At 31 December 2018 |
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5. | Investment property |
Total |
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Fair value |
At 1 January 2019 |
and 31 December 2019 |
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Net book value |
At 31 December 2019 |
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At 31 December 2018 |
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As at 31 December 2019, the Company held two properties situated in Malaga and Marbella, Spain. |
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6. | Creditors: amounts falling due within one year |
31/12/19 | 31/12/18 |
€ | € |
Other creditors |
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Accrued expenses |
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Included in other creditors is an interest free, unsecured and repayable on demand loan of €4,949,441 (2018: €5,004,924) |
due to the beneficial owner.. |