Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr M Phillips 16/04/1998 15 October 2024 The principal activity of the company is that of a rental company. 03533728 2024-03-31 03533728 bus:Director1 2024-03-31 03533728 2023-03-31 03533728 core:CurrentFinancialInstruments 2024-03-31 03533728 core:CurrentFinancialInstruments 2023-03-31 03533728 core:Non-currentFinancialInstruments 2024-03-31 03533728 core:Non-currentFinancialInstruments 2023-03-31 03533728 core:ShareCapital 2024-03-31 03533728 core:ShareCapital 2023-03-31 03533728 core:RetainedEarningsAccumulatedLosses 2024-03-31 03533728 core:RetainedEarningsAccumulatedLosses 2023-03-31 03533728 core:Vehicles 2023-03-31 03533728 core:OfficeEquipment 2023-03-31 03533728 core:Vehicles 2024-03-31 03533728 core:OfficeEquipment 2024-03-31 03533728 2023-04-01 2024-03-31 03533728 bus:FilletedAccounts 2023-04-01 2024-03-31 03533728 bus:SmallEntities 2023-04-01 2024-03-31 03533728 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03533728 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03533728 bus:Director1 2023-04-01 2024-03-31 03533728 core:Vehicles 2023-04-01 2024-03-31 03533728 core:OfficeEquipment 2023-04-01 2024-03-31 03533728 2022-04-01 2023-03-31 03533728 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 03533728 (England and Wales)

BILTREX LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

BILTREX LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

BILTREX LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
BILTREX LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR Mr M Phillips
REGISTERED OFFICE Hitchcock House Hilltop Park
Devizes Road
Salisbury
SP3 4UF
United Kingdom
COMPANY NUMBER 03533728 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
BILTREX LIMITED

BALANCE SHEET

As at 31 March 2024
BILTREX LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 5,864 7,331
Investment property 4 3,511,683 2,775,278
3,517,547 2,782,609
Current assets
Debtors 5 560 814
Cash at bank and in hand 3,350 51,851
3,910 52,665
Creditors: amounts falling due within one year 6 ( 678,901) ( 333,821)
Net current liabilities (674,991) (281,156)
Total assets less current liabilities 2,842,556 2,501,453
Creditors: amounts falling due after more than one year 7 ( 1,192,570) ( 968,295)
Provision for liabilities 0 ( 19,199)
Net assets 1,649,986 1,513,959
Capital and reserves
Called-up share capital 2 2
Profit and loss account 1,649,984 1,513,957
Total shareholder's funds 1,649,986 1,513,959

The profit and loss reserve includes £457,534 of unrealised profits on investment property. This is the difference between investment property's fair value of £3,284,149 and its original cost of £2,826,615.
Unrealised profits are not distributable.

For the financial year ending 31 March 2024 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 Biltrex Limited (registered number: 03533728) were approved and authorised for issue by the Director on 15 October 2024. They were signed on its behalf by:

Mr M Phillips
Director
BILTREX LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
BILTREX LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Biltrex 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 Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom.

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 £.

Turnover

Turnover represents rent receivable. Where customers pay in advance, the amount received is recorded as deferred income and released to profit and loss over the period of the contract.

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 [straight-line, reducing balance] basis over its expected useful life, as follows:

Vehicles 20 % reducing balance
Office equipment 20 % 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 April 2023 6,100 2,489 8,589
At 31 March 2024 6,100 2,489 8,589
Accumulated depreciation
At 01 April 2023 407 851 1,258
Charge for the financial year 1,139 328 1,467
At 31 March 2024 1,546 1,179 2,725
Net book value
At 31 March 2024 4,554 1,310 5,864
At 31 March 2023 5,693 1,638 7,331

4. Investment property

Investment property
£
Valuation
As at 01 April 2023 2,775,278
Additions 578,692
Fair value movement 157,713
As at 31 March 2024 3,511,683

5. Debtors

2024 2023
£ £
VAT recoverable 560 814

6. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 83 0
Other creditors 678,818 333,821
678,901 333,821

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

2024 2023
£ £
Bank loans 1,147,454 919,920
Other creditors 45,116 48,375
1,192,570 968,295

The loans are secured against the investment property of the business.

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Purchase of property 0 660,000

During last year, the company purchased a property from a director at market value.