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Company No: 04208119 (England and Wales)

BACHETTA LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

BACHETTA LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

BACHETTA LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
BACHETTA LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTOR A Bacheta
REGISTERED OFFICE 2 Leman Street
London
E1W 9US
United Kingdom
COMPANY NUMBER 04208119 (England and Wales)
ACCOUNTANT Gravita Business Services Limited
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
BACHETTA LIMITED

BALANCE SHEET

As at 30 April 2024
BACHETTA LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 1,921,677 1,400,000
1,921,677 1,400,000
Current assets
Debtors 4 408,970 770,544
Cash at bank and in hand 68,977 32,731
477,947 803,275
Creditors: amounts falling due within one year 5 ( 118,421) ( 75,199)
Net current assets 359,526 728,076
Total assets less current liabilities 2,281,203 2,128,076
Creditors: amounts falling due after more than one year 6 ( 514,339) ( 519,285)
Provision for liabilities ( 165,216) ( 165,216)
Net assets 1,601,648 1,443,575
Capital and reserves
Called-up share capital 1 1
Profit and loss account 1,601,647 1,443,574
Total shareholder's funds 1,601,648 1,443,575

For the financial year ending 30 April 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 Bachetta Limited (registered number: 04208119) were approved and authorised for issue by the Director on 17 April 2025. They were signed on its behalf by:

A Bacheta
Director
BACHETTA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
BACHETTA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 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

Bachetta 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 2 Leman Street, London, E1W 9US, 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 is recognised at the fair value of the consideration received in respect of rental income and management fees receivable.

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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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.

The fair value is determined annually by the director, on an open market value for existing use basis.

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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

2. Employees

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

3. Investment property

Investment property
£
Valuation
As at 01 May 2023 1,400,000
Additions 521,677
As at 30 April 2024 1,921,677

The fair value of the investment properties have been arrived at on the basis of valuations undertaken by the director of the company, who has recent experience in the locations and classes of the investment properties being valued. The valuations were made on an open market basis by reference to market evidence of transaction prices for similar properties and the director considers the carrying amounts of the investment properties approximates to their fair value.

4. Debtors

2024 2023
£ £
Trade debtors 1,500 0
Amounts owed by connected companies 309,969 770,543
Other debtors 97,501 1
408,970 770,544

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 4,946 4,824
Trade creditors 0 5,281
Taxation and social security 101,096 52,715
Other creditors 12,379 12,379
118,421 75,199

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

2024 2023
£ £
Bank loans 514,339 519,285

Bank loans are secured by fixed and floating legal charges against the investment properties.

7. Related party transactions

At the year end the company was owed £41,130 (2023 - 157,130) by B & G Properties (GB) Limited, £7,628 (2023 - £336,649) by B & G Partnership, £204,987 (2023 - £262,183) by Bacheta Racing Limited and £15,080 (2023 - 14,580) by Rocky Worldwide Limited, all entities under the common control of the director, in respect of interest free loans which are repayable on demand.