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REGISTERED NUMBER: 09667793 (England and Wales)


Kervan Banqueting Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2023






Kervan Banqueting Limited (Registered number: 09667793)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Kervan Banqueting Limited

Company Information
for the year ended 31 March 2023







DIRECTOR: Mr M Aydemir





REGISTERED OFFICE: 155 Blackhorse Road
London
E17 6ND





REGISTERED NUMBER: 09667793 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Kervan Banqueting Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kervan Banqueting Limited for the year ended 31 March 2023 which comprise the Abridged Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Kervan Banqueting Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kervan Banqueting Limited and state those matters that we have agreed to state to the director of Kervan Banqueting Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kervan Banqueting Limited and its director for our work or for this report.

It is your duty to ensure that Kervan Banqueting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kervan Banqueting Limited. You consider that Kervan Banqueting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kervan Banqueting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


18 October 2023

Kervan Banqueting Limited (Registered number: 09667793)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 31,876 37,320
Investment property 5 4,500,256 4,500,256
4,532,132 4,537,576

CURRENT ASSETS
Debtors 6 47,102 32,081
Cash at bank and in hand 1,352,958 721,702
1,400,060 753,783
CREDITORS
Amounts falling due within one year 7 772,406 695,269
NET CURRENT ASSETS 627,654 58,514
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,159,786

4,596,090

CREDITORS
Amounts falling due after more than one
year

8

(1,156,395

)

(1,122,838

)

PROVISIONS FOR LIABILITIES 10 (60,900 ) (61,178 )
NET ASSETS 3,942,491 3,412,074

Kervan Banqueting Limited (Registered number: 09667793)

Statement of Financial Position - continued
31 March 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 1 1
Fair value reserve 12 233,807 233,807
Retained earnings 12 3,708,683 3,178,266
SHAREHOLDERS' FUNDS 3,942,491 3,412,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2023 and were signed by:





Mr M Aydemir - Director


Kervan Banqueting Limited (Registered number: 09667793)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Kervan Banqueting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is generated from the ordinary activities of the business and is recognised when customers take delivery of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Kervan Banqueting Limited (Registered number: 09667793)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 43,269 51,670 94,939
Additions 1,944 465 2,409
At 31 March 2023 45,213 52,135 97,348
DEPRECIATION
At 1 April 2022 22,579 35,040 57,619
Charge for year 4,527 3,326 7,853
At 31 March 2023 27,106 38,366 65,472
NET BOOK VALUE
At 31 March 2023 18,107 13,769 31,876
At 31 March 2022 20,690 16,630 37,320

Kervan Banqueting Limited (Registered number: 09667793)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 4,500,256
NET BOOK VALUE
At 31 March 2023 4,500,256
At 31 March 2022 4,500,256

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2017 4,208,764
Valuation in 2019 2,842
Valuation in 2020 288,650
4,500,256

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 4,211,606 4,211,606

The Investment Property was revalued by the director to fair value as at 31 March 2022. The company director, as required by FRS 102, remeasured the investment property to fair value as at the balance sheet date. He has assessed the fair value based on properties of a similar nature and in the same surrounding areas where the property is located.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 30,000 -
Other debtors 17,102 32,081
47,102 32,081

Kervan Banqueting Limited (Registered number: 09667793)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 43,500 127,163
Trade creditors 29,874 23,441
Taxation and social security 290,773 162,093
Other creditors 408,259 382,572
772,406 695,269

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 1,156,395 1,122,838

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,199,895 1,250,001

The loan is secured by the way of a fixed charge over 293/303, Fore Street, Edmonton N9 0PD.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 60,900 61,178

Deferred
tax
£   
Balance at 1 April 2022 61,178
Provided during year (278 )
Balance at 31 March 2023 60,900

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

Kervan Banqueting Limited (Registered number: 09667793)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2022 3,178,266 233,807 3,412,073
Profit for the year 530,417 530,417
At 31 March 2023 3,708,683 233,807 3,942,490

13. RELATED PARTY DISCLOSURES

Key management personel:
Included in creditors is an amount owed to key management personnel at balance sheet date of 387,520 This is an interest free loan and has no fixed repayment terms.