REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 December 2020 |
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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 2020 |
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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 2020 |
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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 2020 |
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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 2020 |
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31/12/20 | 31/12/19 |
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 |
(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. |
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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 2020 |
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1. | Statutory information |
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Bonanza Properties Limited is a
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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 |
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 |
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. |
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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. |
BONANZA PROPERTIES LIMITED (REGISTERED NUMBER: 02701844) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
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3. | Employees and directors |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | Tangible fixed assets |
Plant and |
machinery |
etc |
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Cost |
At 1 January 2020 |
and 31 December 2020 |
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Depreciation |
At 1 January 2020 |
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Charge for year |
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At 31 December 2020 |
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Net book value |
At 31 December 2020 |
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At 31 December 2019 |
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5. | Investment property |
Total |
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Fair value |
At 1 January 2020 |
and 31 December 2020 |
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Net book value |
At 31 December 2020 |
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At 31 December 2019 |
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As at 31 December 2020, the Company held three properties situated in Marbella, Spain. |
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6. | Creditors: amounts falling due within one year |
31/12/20 | 31/12/19 |
€ | € |
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 €4,882,257 (2019: €4,949,440) due to the beneficial owner. |