Silverfin false false 30/06/2024 01/11/2023 30/06/2024 Mr M S Salmon 02/10/2012 17 March 2025 The principal activity of the Company during the financial period was property investment. 08235883 2024-06-30 08235883 bus:Director1 2024-06-30 08235883 2023-10-31 08235883 core:CurrentFinancialInstruments 2024-06-30 08235883 core:CurrentFinancialInstruments 2023-10-31 08235883 core:Non-currentFinancialInstruments 2024-06-30 08235883 core:Non-currentFinancialInstruments 2023-10-31 08235883 core:ShareCapital 2024-06-30 08235883 core:ShareCapital 2023-10-31 08235883 core:RetainedEarningsAccumulatedLosses 2024-06-30 08235883 core:RetainedEarningsAccumulatedLosses 2023-10-31 08235883 core:FurnitureFittings 2023-10-31 08235883 core:FurnitureFittings 2024-06-30 08235883 bus:OrdinaryShareClass1 2024-06-30 08235883 2023-11-01 2024-06-30 08235883 bus:FilletedAccounts 2023-11-01 2024-06-30 08235883 bus:SmallEntities 2023-11-01 2024-06-30 08235883 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-06-30 08235883 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-06-30 08235883 bus:Director1 2023-11-01 2024-06-30 08235883 core:FurnitureFittings 2023-11-01 2024-06-30 08235883 2022-11-01 2023-10-31 08235883 core:Non-currentFinancialInstruments 2023-11-01 2024-06-30 08235883 bus:OrdinaryShareClass1 2023-11-01 2024-06-30 08235883 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08235883 (England and Wales)

ILEX INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial period from 01 November 2023 to 30 June 2024
Pages for filing with the registrar

ILEX INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial period from 01 November 2023 to 30 June 2024

Contents

ILEX INVESTMENTS LIMITED

BALANCE SHEET

As at 30 June 2024
ILEX INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 30.06.2024 31.10.2023
£ £
Fixed assets
Tangible assets 3 1,707 2,277
Investment property 4 1,115,000 1,115,000
1,116,707 1,117,277
Current assets
Debtors 5 1,270 287
Cash at bank and in hand 10,420 23,973
11,690 24,260
Creditors: amounts falling due within one year 6 ( 385,678) ( 375,398)
Net current liabilities (373,988) (351,138)
Total assets less current liabilities 742,719 766,139
Creditors: amounts falling due after more than one year 7 ( 75,006) ( 117,892)
Provision for liabilities 8 ( 105,879) ( 106,022)
Net assets 561,834 542,225
Capital and reserves
Called-up share capital 9 2 2
Profit and loss account 561,832 542,223
Total shareholders' funds 561,834 542,225

For the financial period ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Ilex Investments Limited (registered number: 08235883) were approved and authorised for issue by the Director on 17 March 2025. They were signed on its behalf by:

Mr M S Salmon
Director
ILEX INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 November 2023 to 30 June 2024
ILEX INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 November 2023 to 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period 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, 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 £.

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.

Reporting period length

The reporting period has been shortened from 30 October 2024 to 30 June 2024. Therefore, the comparatives are not comparable.

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.

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.

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.

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

Period from
01.11.2023 to
30.06.2024
Year ended
31.10.2023
Number Number
Monthly average number of persons employed by the Company during the period, including the director 1 1

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 November 2023 25,258 25,258
At 30 June 2024 25,258 25,258
Accumulated depreciation
At 01 November 2023 22,981 22,981
Charge for the financial period 570 570
At 30 June 2024 23,551 23,551
Net book value
At 30 June 2024 1,707 1,707
At 31 October 2023 2,277 2,277

4. Investment property

Investment property
£
Valuation
As at 01 November 2023 1,115,000
As at 30 June 2024 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 30 June 2024 is £1,115,000.

5. Debtors

30.06.2024 31.10.2023
£ £
Trade debtors 21 287
Prepayments 1,249 0
1,270 287

6. Creditors: amounts falling due within one year

30.06.2024 31.10.2023
£ £
Bank loans 31,364 24,246
Trade creditors 9 452
Amounts owed to director 119 0
Accruals and deferred income 5,641 1,440
Corporation tax 6,545 7,260
Other creditors 342,000 342,000
385,678 375,398

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

30.06.2024 31.10.2023
£ £
Bank loans 72,006 112,892
Other creditors 3,000 5,000
75,006 117,892

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

8. Provision for liabilities

30.06.2024 31.10.2023
£ £
Deferred tax 105,879 106,022

9. Called-up share capital

30.06.2024 31.10.2023
£ £
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 (2023: £377,924). These reserves represent the cumulative revaluation gains, after provision for deferred tax, on the company's investment property.