REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
SEVEN CAPITAL (BRACKNELL) LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
SEVEN CAPITAL (BRACKNELL) LTD |
SEVEN CAPITAL (BRACKNELL) LTD (REGISTERED NUMBER: 11452285) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SEVEN CAPITAL (BRACKNELL) LTD |
Company Information |
for the Year Ended 31 July 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2 Wheeleys Road |
Edgbaston |
Birmingham |
West Midlands |
B15 2LD |
SEVEN CAPITAL (BRACKNELL) LTD (REGISTERED NUMBER: 11452285) |
Balance Sheet |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium | 11 |
Retained earnings | 11 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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. |
SEVEN CAPITAL (BRACKNELL) LTD (REGISTERED NUMBER: 11452285) |
Balance Sheet - continued |
31 July 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SEVEN CAPITAL (BRACKNELL) LTD (REGISTERED NUMBER: 11452285) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Seven Capital (Bracknell) Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial instruments |
Trade and Other Debtors/Creditors |
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument. |
Interest bearing borrowings classified as basic financial instruments |
Interest-bearing borrowings are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost using the effective interest method, less any impairment losses. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the company's cash management are included as a component of cash and cash equivalents for the purpose only of the cash flow statement. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
SEVEN CAPITAL (BRACKNELL) LTD (REGISTERED NUMBER: 11452285) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
VAT |
Deferred tax asset |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
Accrued expenses |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans (see note 7) |
Accruals and deferred income |
Accruals and deferred income relates to accruals of £4,739,778 for interest on the loan notes which are payable upon completion of the project (31/03/2024). |
7. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
SEVEN CAPITAL (BRACKNELL) LTD (REGISTERED NUMBER: 11452285) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Other loans |
The loans are secured by a fixed and floating charge over all the assets of the company. |
9. | DEFERRED TAX |
£ |
Balance at 1 August 2022 | ( |
) |
Provided during year | ( |
) |
Balance at 31 July 2023 | ( |
) |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
A Ordinary | 1 | 1 | 1 |
B Ordinary | 1 | 50 | 50 |
C Ordinary | 1 | 49 | 49 |
100 | 100 |
The following fully paid shares were allotted during the year at a premium as shown below: |
1 A Ordinary shares of £1 each at £10 per share |
50 B Ordinary shares of £1 each at £10 per share |
49 C Ordinary shares of £1 each at £10 per share |
11. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 August 2022 | ( |
) | (628,918 | ) |
Profit for the year |
At 31 July 2023 | ( |
) | (434,052 | ) |
SEVEN CAPITAL (BRACKNELL) LTD (REGISTERED NUMBER: 11452285) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
12. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
At the year end date, the company had following amounts included in other debtors outstanding from its associated companies which are registered in England and Wales: |
- Seven Capital Plc £3,064 (2022 - £3,064) |
At the year end date, the company had following amounts included in other creditors outstanding to its associated companies which are registered in England and Wales: |
- Seven Capital (Crocus) Limited £226,500 (2022 - £225,000) |