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Company Registration No. 11924193 (England and Wales)
BILTON PROPCO LIMITED Unaudited accounts for the year ended 31 March 2023
BILTON PROPCO LIMITED Unaudited accounts Contents
Page
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BILTON PROPCO LIMITED Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
1,999,526 
1,139,572 
Current assets
Debtors
- 
12,200 
Cash at bank and in hand
165,782 
5,205 
165,782 
17,405 
Creditors: amounts falling due within one year
(10,489)
(1,200)
Net current assets
155,293 
16,205 
Total assets less current liabilities
2,154,819 
1,155,777 
Creditors: amounts falling due after more than one year
(2,198,602)
(1,178,143)
Provisions for liabilities
Deferred tax
(893)
- 
Other provisions
2,861 
2,861 
1,968 
2,861 
Net liabilities
(41,815)
(19,505)
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
(8,275)
(12,076)
Profit and loss account
(33,640)
(7,529)
Shareholders' funds
(41,815)
(19,505)
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 December 2023 and were signed on its behalf by
Soban Khawaja Director Company Registration No. 11924193
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BILTON PROPCO LIMITED Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
BILTON PROPCO LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11924193. The registered office is 75 Aldersbrook Road, London, E12 5DL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Investment property
2023 
£ 
Fair value at 1 April 2022
1,139,572 
Additions
855,261 
Net gain from fair value adjustments
4,693 
At 31 March 2023
1,999,526 
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BILTON PROPCO LIMITED Notes to the Accounts for the year ended 31 March 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
12,200 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
9,289 
- 
Accruals
1,200 
1,200 
10,489 
1,200 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
1,060,968 
928,482 
Loans from directors
1,137,634 
249,661 
2,198,602 
1,178,143 
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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