Silverfin false false 31/10/2023 01/11/2022 31/10/2023 Mr M S Salmon 02/10/2012 07 March 2024 The principal activity of the Company during the financial year was property investment. 08235883 2023-10-31 08235883 bus:Director1 2023-10-31 08235883 2022-10-31 08235883 core:CurrentFinancialInstruments 2023-10-31 08235883 core:CurrentFinancialInstruments 2022-10-31 08235883 core:Non-currentFinancialInstruments 2023-10-31 08235883 core:Non-currentFinancialInstruments 2022-10-31 08235883 core:ShareCapital 2023-10-31 08235883 core:ShareCapital 2022-10-31 08235883 core:RetainedEarningsAccumulatedLosses 2023-10-31 08235883 core:RetainedEarningsAccumulatedLosses 2022-10-31 08235883 core:FurnitureFittings 2022-10-31 08235883 core:FurnitureFittings 2023-10-31 08235883 bus:OrdinaryShareClass1 2023-10-31 08235883 2022-11-01 2023-10-31 08235883 bus:FilletedAccounts 2022-11-01 2023-10-31 08235883 bus:SmallEntities 2022-11-01 2023-10-31 08235883 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 08235883 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08235883 bus:Director1 2022-11-01 2023-10-31 08235883 core:FurnitureFittings 2022-11-01 2023-10-31 08235883 2021-11-01 2022-10-31 08235883 core:Non-currentFinancialInstruments 2022-11-01 2023-10-31 08235883 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 08235883 bus:OrdinaryShareClass1 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08235883 (England and Wales)

ILEX INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

ILEX INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

ILEX INVESTMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2023
ILEX INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTOR Mr M S Salmon
REGISTERED OFFICE Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
COMPANY NUMBER 08235883 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
ILEX INVESTMENTS LIMITED

BALANCE SHEET

As at 31 October 2023
ILEX INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,277 3,039
Investment property 4 1,115,000 1,115,000
1,117,277 1,118,039
Current assets
Debtors 5 1,120 273
Cash at bank and in hand 23,973 25,035
25,093 25,308
Creditors: amounts falling due within one year 6 ( 376,231) ( 322,978)
Net current liabilities (351,138) (297,670)
Total assets less current liabilities 766,139 820,369
Creditors: amounts falling due after more than one year 7 ( 117,892) ( 196,747)
Provision for liabilities 8 ( 106,022) ( 80,721)
Net assets 542,225 542,901
Capital and reserves
Called-up share capital 9 2 2
Profit and loss account 542,223 542,899
Total shareholders' funds 542,225 542,901

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Ilex Investments Limited (registered number: 08235883) were approved and authorised for issue by the Director on 07 March 2024. They were signed on its behalf by:

Mr M S Salmon
Director
ILEX INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
ILEX INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ilex Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House, Oak View Close, Edginswell Park, Torquay, TQ2 7FF.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. The company recognises revenue based on it’s value of the services provided to date.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 November 2022 25,258 25,258
At 31 October 2023 25,258 25,258
Accumulated depreciation
At 01 November 2022 22,219 22,219
Charge for the financial year 762 762
At 31 October 2023 22,981 22,981
Net book value
At 31 October 2023 2,277 2,277
At 31 October 2022 3,039 3,039

4. Investment property

Investment property
£
Valuation
As at 01 November 2022 1,115,000
As at 31 October 2023 1,115,000

There has been no valuation of investment property by an independent valuer. In the director's opinion the market value of the property at 31 October 2023 is £1,115,000.

5. Debtors

2023 2022
£ £
Trade debtors 1,120 273

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 24,246 26,676
Trade creditors 1,285 464
Amounts owed to director 0 110
Accruals 1,440 1,200
Corporation tax 7,260 7,528
Other creditors 342,000 287,000
376,231 322,978

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 112,892 188,663
Other creditors 5,000 8,084
117,892 196,747

There are no amounts included above in respect of which any security has been given by the small entity.

8. Provision for liabilities

2023 2022
£ £
Deferred tax 106,022 80,721

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

10. Reserves

Included in the profit and loss account balance carried forward are non-distributable reserves of £377,924 (2022: £403,234). These reserves represent the cumulative revaluation gains, after provision for deferred tax, on the company's investment property.