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Registered number: SC663972
BXTR MCH LTD
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JANUARY 2025
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BXTR MCH LTD
REGISTERED NUMBER: SC663972
STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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BXTR MCH LTD
REGISTERED NUMBER: SC663972
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2025
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 October 2025.
The notes on pages 3 to 10 form part of these financial statements.
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BXTR MCH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
BXTR MCH Ltd (company number SC663972) is a private company limited by shares and is incorporated in Scotland. The registered office is House of Gods, Cowgate, Edinburgh, Scotland, EH1 1JQ.
During the year, the principal activity of the company continued to be that of hotel construction.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
In the year ended 31 January 2025 the business had net current liabilities of £2,133,970 and net liabilities of £883,970, with a loss in the year of £680,948.
The company continued to be that of hotel construction, supported by the wider group, and ultimately external organisation financing.
The directors have undertaken a detailed assessment of the company’s financial position, including an analysis of cash flow forecasts which include the anticipated proceeds from the post year end fixed assets sale. The expected transaction would generate cash to reduce the company’s liabilities and allow the wider group to invest that cash in profit and cash generating opportunities. With or without this fixed asset sale the directors are conscious that support from the wider BXTR Services Limited group will still be a requirement in BXTR MCH Ltd. The directors have therefore considered the availability of resources for a period of at least twelve months from the date of approval of these financial statements at the BXTR Services Limited group level and the ability of that company to provide support to the group’s subsidiary entities. With external financing in place at a group level; cash expected from the sale of this companies’ fixed asset allowing increased profitability and cash generation in the group; and anticipated future group trading; it has been determined that BXTR Services Limited is able to provide financial assistance to the group’s subsidiary entities. Thus, with a letter of support from BXTR Services Limited, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.
Accordingly, the directors consider that the use of the going concern basis in preparing the financial statements is appropriate. However, the group is reliant upon the proceeds from the future sale of the property and future profitability and the resulting cash generation which creates a material uncertainty that may cast significant doubt on the company’s ability to continue as a going concern.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are recognised in profit or loss in the year which they are incurred.
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BXTR MCH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation was not charged in the year as the asset was not yet in use.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
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BXTR MCH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
2.Accounting policies (continued)
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
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BXTR MCH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Statement of Financial Position date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:
Assessing impairment for tangible fixed assets
Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. Management consider each period whether there is any indication of impairment in relation to fixed asset investments. There is a requirement to perform a full impairment review as such indicators exist.
Critical accounting judgements in applying the company’s accounting policies
In the opinion of the directors there are no other critical accounting judgements made in applying the company’s accounting policies that require disclosure in the financial statements.
Key source of estimation uncertainty
In the opinion of the directors there are no other key sources of estimation uncertainty that require disclosure in the financial statements
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The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).
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The average number of employees during the year, including directors, was 4 (2024 - 4). who received no remuneration in the year (2024 - £nil).
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BXTR MCH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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Land and buildings are represented by assets under construction. Assets under construction are in respect of a hotel that is under construction in Manchester. No depreciation has been charged in the year ended 31 January 2025 (charge for year ended 31 January 2024: £Nil) because the hotel has not been placed into service at the balance sheet date. The cost has been impaired to the post year end selling price of the asset.
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Prepayments and accrued income
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BXTR MCH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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Amounts falling due 1-2 years
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BXTR MCH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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Allotted, called up and fully paid
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1 (2024 - 1) Ordinary of £1 each share of £1.00
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Profit and loss account
The profit and loss reserve includes all current and prior year retained profits or losses.
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Related party transactions
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The company has taken advantage of the disclosure exemption from the requirement of FRS 102 Section
33 Related Party Disclosures paragraph 33.7 from disclosing transactions with group undertakings on the
basis that consolidated financial statements are available.
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Post balance sheet events
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Post year end management elected to sell the entirety of the land and buildings. The selling price is below the capitalised costs therefore an impairment charge has been processed as an adjusting post balance sheet event.
Material change to the carrying value of the fixed assets were identified see Note 5.
The immediate company is BXTR Holdings Ltd.
The ultimate parent company is BXTR Services Ltd, a company registered within the UK. These financial statements are consolidated into the financial statements of BXTR Services Ltd. Copies of BXTR Services Ltd consolidated financial statements can be obtained from its registered office at C/O Imbiba Growth 1 LP, The Loft, 1-3 Langley Court, London, WC2E 9JY.
The ultimate controlling party is Imbiba Growth 1 LP.
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BXTR MCH LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
The auditor's report on the financial statements for the year ended 31 January 2025 was unqualified.
The audit report was signed on 31 October 2025 by Nicola MacLennan (Senior statutory auditor) on behalf of AAB Audit & Accountancy Limited.
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