BTL NO.2 LTD
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Next accounts due
2026-12-28 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2027-04-25 (in 11mo)
Last made up 2026-04-11
Watchouts
None on the register
Cash
£2M
+102.3% vs 2024
Net assets
-£8M
-32.8% vs 2024
Employees
0
Average over period
Profit before tax
-£2M
+80.6% vs 2024
Name history
Renamed 2 times since incorporation
- BTL NO.2 LTD 2019-05-31 → present
- LENDINVEST BTL NO. 2 LTD 2019-04-18 → 2019-05-31
- BTL NO.2 LTD 2019-04-09 → 2019-04-18
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · latest reflected 2025-03-31
| Metric | Trend | 2023-03-31 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|---|
| Turnover | — | £3,818,000 | £3,303,000 | |
| Operating profit | — | -£10,471,000 | -£2,030,000 | |
| Profit before tax | — | -£10,471,000 | -£2,030,000 | |
| Net profit | — | -£10,471,000 | -£2,030,000 | |
| Cash | — | £753,000 | £1,523,000 | |
| Total assets less current liabilities | — | — | — | |
| Net assets | — | -£6,187,000 | -£8,217,000 | |
| Equity | £4,284,000 | -£6,187,000 | -£8,217,000 | |
| Average employees | — | 0 | 0 | |
| Wages | — | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-03-31 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|---|
| Operating margin | — | -274.3% | -61.5% | |
| Net margin | — | -274.3% | -61.5% | |
| Gearing (liabilities / total assets) | — | 109.2% | 117.2% | |
| Interest cover | — | -1.37x | -0.31x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“On the basis of their assessment of the Company's financial position and that of its ultimate controlling party, Lendinvest plc, the Company's Directors have a reasonable expectation that the Company will be able to continue in operational existence for the foreseeable future.”
Significant events
- “On 1 October 2024, the Company transferred their mezzanine loan from LF7 to external funder Realm Investment house for £4.2m”
- “On 6 November 2024, the business successfully completed its sixth public market securitisation transaction in respect of a £121m mixed BTL and owner-occupied loan portfolio. The Company successfully repaid its senior, mezzanine, and subordinated debt, while also reducing the excess lending capacity in its warehouse facilities by approximately £115 million, leading to lower ongoing commitment fees.”
- “On 24 March 2025, the Company successfully refinanced its lending with another senior lender named Societe Generale.”
- “Subsequent to the year-end, on 23 May 2025, the Company entered into a Deed Poll with LendInvest BTL Limited to restructure its subordinated loan facility. Under the terms of this deed, the lender released the Company from specific repayment obligations, resulting in a write-down of the principal debt to £3,885,000. Additionally, the Company was released from the obligation to pay historical accrued interest, with new interest accruals commencing on the restated principal balance from 1 May 2025.”
- “On 27 October 2025, the business successfully completed its seventh public market securitisation transaction in respect of a £141.6m mixed BTL and owner-occupied loan portfolio. The Company successfully repaid its senior, mezzanine, and subordinated debt, while also reducing the excess lending capacity in its warehouse facilities by approximately £115.6 million on 27 October 2025 and additional £26m on 1st of December 2025, leading to lower ongoing commitment fees”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 0 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| LAW DEBENTURE CORPORATE SERVICES LIMITED | Corporate Secretary | 2019-04-09 | — | — |
| FILER, Mark Howard | Director | 2019-04-09 | Jun 1967 | British |
| L.D.C. SECURITISATION DIRECTOR NO. 1 LIMITED | Corporate Director | 2019-04-09 | — | — |
| L.D.C. SECURITISATION DIRECTOR NO. 2 LIMITED | Corporate Director | 2019-04-09 | — | — |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| The Law Debenture Intermediary Corporation P.L.C. | Corporate entity | Shares 75–100%, Voting 75–100% | 2019-04-09 | Active |
Filing timeline
Last 20 of 40 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-12-22 | AA | accounts | Accounts with accounts type full | |
| 2025-08-21 | AA | accounts | Accounts with accounts type full | |
| 2025-06-16 | AA01 | accounts | Change account reference date company previous shortened | |
| 2025-04-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-03-19 | AA01 | accounts | Change account reference date company previous shortened | |
| 2024-12-20 | AA01 | accounts | Change account reference date company previous shortened | |
| 2024-07-01 | AA | accounts | Accounts with accounts type full | |
| 2024-04-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-03-04 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-04-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-04-05 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-03-23 | AA | accounts | Accounts with accounts type full | |
| 2022-05-12 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2022-04-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-03-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-12-20 | AA | accounts | Accounts with accounts type full | |
| 2021-09-17 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-05-21 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-04-21 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
-13.5%
£3,818,000 £3,303,000
-
Cash
+102.3%
£753,000 £1,523,000
-
Net assets
-32.8%
-£6,187,000 -£8,217,000
-
Employees
—
Not reported
-
Operating profit
+80.6%
-£10,471,000 -£2,030,000
-
Profit before tax
+80.6%
-£10,471,000 -£2,030,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers