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REGISTERED NUMBER: 03364956 (England and Wales)


Sevan Leisure Holdings Limited

Report of the Directors and

Unaudited

Consolidated Financial Statements

for the Year Ended 30 June 2024






Sevan Leisure Holdings Limited (Registered number: 03364956)






Contents of the Consolidated Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Consolidated Income Statement 4

Consolidated Other Comprehensive Income 5

Consolidated Statement of Financial Position 6

Company Statement of Financial Position 8

Consolidated Statement of Changes in Equity 10

Company Statement of Changes in Equity 11

Notes to the Consolidated Financial Statements 12


Sevan Leisure Holdings Limited

Company Information
for the year ended 30 June 2024







DIRECTORS: Mr R Halil
Mrs E Halil-Kuccuk





SECRETARY: Mr R Halil





REGISTERED OFFICE: C/O Woodies
Thetford Road
New Malden
Surrey
KT3 5DX





REGISTERED NUMBER: 03364956 (England and Wales)





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

Sevan Leisure Holdings Limited (Registered number: 03364956)

Report of the Directors
for the year ended 30 June 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of an investment management company, nightclubs, catering and other related services.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

Mr R Halil
Mrs E Halil-Kuccuk

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr R Halil - Director


7 October 2024

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Sevan Leisure Holdings Limited


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sevan Leisure Holdings Limited for the year ended 30 June 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity and the related notes from the company's and the group'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 Board of Directors of Sevan Leisure Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sevan Leisure Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Sevan Leisure Holdings Limited, as a body, 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 Sevan Leisure Holdings Limited the company and the group and the company's Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sevan Leisure Holdings 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 Sevan Leisure Holdings Limited. You consider that Sevan Leisure Holdings 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 Sevan Leisure Holdings 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


7 October 2024

Sevan Leisure Holdings Limited (Registered number: 03364956)

Consolidated
Income Statement
for the year ended 30 June 2024

2024 2023
Notes £    £   

REVENUE 4,650,158 4,678,552

Cost of sales 1,190,038 1,427,119
GROSS PROFIT 3,460,120 3,251,433

Administrative expenses 3,222,860 3,237,504
237,260 13,929

Other operating income 30,018 170,455
OPERATING PROFIT 267,278 184,384

Interest receivable and similar income 7,929 112
275,207 184,496

Interest payable and similar expenses 102,974 71,935
PROFIT BEFORE TAXATION 172,233 112,561

Tax on profit 37,200 96,035
PROFIT FOR THE FINANCIAL YEAR 135,033 16,526
Profit attributable to:
Owners of the parent 135,033 16,526

Sevan Leisure Holdings Limited (Registered number: 03364956)

Consolidated
Other Comprehensive Income
for the year ended 30 June 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 135,033 16,526


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

135,033

16,526

Total comprehensive income attributable to:
Owners of the parent 135,033 16,526

Sevan Leisure Holdings Limited (Registered number: 03364956)

Consolidated Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 6 913,049 971,858
Investments 7 - -
Investment property 8 2,660,000 2,660,000
3,573,049 3,631,858

CURRENT ASSETS
Inventories 52,096 51,275
Debtors 9 407,696 353,440
Cash at bank and in hand 245,686 179,591
705,478 584,306
CREDITORS
Amounts falling due within one year 10 1,253,157 1,016,399
NET CURRENT LIABILITIES (547,679 ) (432,093 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,025,370

3,199,765

CREDITORS
Amounts falling due after more than one
year

11

(832,970

)

(959,229

)

PROVISIONS FOR LIABILITIES 15 (325,382 ) (349,735 )
NET ASSETS 1,867,018 1,890,801

Sevan Leisure Holdings Limited (Registered number: 03364956)

Consolidated Statement of Financial Position - continued
30 June 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 16 54,764 54,764
Fair value reserve 17 823,291 823,291
Retained earnings 17 988,963 1,012,746
SHAREHOLDERS' FUNDS 1,867,018 1,890,801

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

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

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:





Mr R Halil - Director


Sevan Leisure Holdings Limited (Registered number: 03364956)

Company Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 6 3,804 4,476
Investments 7 54,864 54,864
Investment property 8 - -
58,668 59,340

CURRENT ASSETS
Debtors 9 2,316,085 2,190,256
Cash at bank - 3,300
2,316,085 2,193,556
CREDITORS
Amounts falling due within one year 10 1,999,694 1,839,257
NET CURRENT ASSETS 316,391 354,299
TOTAL ASSETS LESS CURRENT
LIABILITIES

375,059

413,639

CREDITORS
Amounts falling due after more than one
year

11

(154,108

)

(243,417

)

PROVISIONS FOR LIABILITIES 15 (295 ) (850 )
NET ASSETS 220,656 169,372

Sevan Leisure Holdings Limited (Registered number: 03364956)

Company Statement of Financial Position - continued
30 June 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 16 54,764 54,764
Retained earnings 17 165,892 114,608
SHAREHOLDERS' FUNDS 220,656 169,372

Company's profit for the financial year 210,100 94,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:





Mr R Halil - Director


Sevan Leisure Holdings Limited (Registered number: 03364956)

Consolidated Statement of Changes in Equity
for the year ended 30 June 2024

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 July 2022 54,764 985,753 992,574 2,033,091

Changes in equity
Dividends - (158,816 ) - (158,816 )
Total comprehensive income - 185,809 (169,283 ) 16,526
Balance at 30 June 2023 54,764 1,012,746 823,291 1,890,801

Changes in equity
Dividends - (158,816 ) - (158,816 )
Total comprehensive income - 135,033 - 135,033
Balance at 30 June 2024 54,764 988,963 823,291 1,867,018

Sevan Leisure Holdings Limited (Registered number: 03364956)

Company Statement of Changes in Equity
for the year ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 54,764 178,772 233,536

Changes in equity
Dividends - (158,816 ) (158,816 )
Total comprehensive income - 94,652 94,652
Balance at 30 June 2023 54,764 114,608 169,372

Changes in equity
Dividends - (158,816 ) (158,816 )
Total comprehensive income - 210,100 210,100
Balance at 30 June 2024 54,764 165,892 220,656

Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Sevan Leisure Holdings 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 General 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.

Basis of consolidation
The consolidated financial statements incorporate the results of Sevan Leisure Holdings Limited and its subsidiary undertakings made up to 30 June 2020. The merger method of accounting is used to consolidate the results of the subsidiary undertakings.

Related party exemption
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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. In determining the carrying amounts of certain assets and liabilities, the company makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The company's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. Further information about key assumptions concerning the future, and other key sources of estimation uncertainty, are set out in the notes.

Fair value measurements are estimates of the amounts for which assets or liabilities could be transferred at the measurement date, based on the assumption that such transfers take place between participants in principal markets and, where applicable, taking highest and best use into account. Where available, fair value measurements are derived from prices quoted in active markets for identical assets or liabilities. In the absence of such information, other observable inputs are used to estimate fair value. Inputs derived from external sources are corroborated or otherwise verified, as appropriate. In the absence of publicly available information, fair value is determined using estimation techniques that take into account market perspectives relevant to the asset or liability, in as far as they can reasonably be ascertained, based on predominantly unobservable inputs

Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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 recognised when the event or customers order is executed and is derived from the ordinary activities of the companies. Rental income is recognised when the rent becomes due at quarter end dates. With respect to grants the accrual model is used in recognition of grants where grants are matched against the expenditure it is compensating for or the condition for the grant has been fulfilled.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Short leasehold - straight line over the life of the lease
Improvements to property - straight line over the life of the lease
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% 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.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is determined using a first in first out stock valuation method. Net realisable value is the selling price of the stock less any cost to sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 statement of financial position date.


Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Investments in subsidiaries
The consolidated financial statements incorporate the financial statements of the company and entities controlled by the group. Control is achieved where the group has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in total comprehensive income from the effective date of acquisition and up to the effective date of disposal, as appropriate using accounting policies consistent with those of the parent.
All intra group transactions, balances, income and expenses are eliminated in full on consolidation.

Investment in subsidiaries are accounted for at cost less impairment in the individual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 96 (2023 - 105 ) .

4. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

5. DIVIDENDS
2024 2023
£    £   
Ordinary Shares shares of £1 each
Interim 158,816 158,816

6. PROPERTY, PLANT AND EQUIPMENT

Group
Improvements
Freehold Short to
property leasehold property
£    £    £   
COST
At 1 July 2023 497,665 312,587 306,352
Additions - 8,597 -
At 30 June 2024 497,665 321,184 306,352
DEPRECIATION
At 1 July 2023 76,078 248,488 134,081
Charge for year 8,453 9,678 14,437
At 30 June 2024 84,531 258,166 148,518
NET BOOK VALUE
At 30 June 2024 413,134 63,018 157,834
At 30 June 2023 421,587 64,099 172,271

Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

6. PROPERTY, PLANT AND EQUIPMENT - continued

Group

Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 July 2023 464,250 418,295 1,999,149
Additions 14,411 - 23,008
At 30 June 2024 478,661 418,295 2,022,157
DEPRECIATION
At 1 July 2023 265,999 302,645 1,027,291
Charge for year 31,901 17,348 81,817
At 30 June 2024 297,900 319,993 1,109,108
NET BOOK VALUE
At 30 June 2024 180,761 98,302 913,049
At 30 June 2023 198,251 115,650 971,858

Included in cost of land and buildings is freehold land of £75,000 (2023 - £75,000) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 July 2023 42,350
Additions 5,045
At 30 June 2024 47,395
DEPRECIATION
At 1 July 2023 10,613
Charge for year 5,366
At 30 June 2024 15,979
NET BOOK VALUE
At 30 June 2024 31,416
At 30 June 2023 31,737

Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

6. PROPERTY, PLANT AND EQUIPMENT - continued

Company
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 19,604 49,504 69,108
DEPRECIATION
At 1 July 2023 16,045 48,587 64,632
Charge for year 534 138 672
At 30 June 2024 16,579 48,725 65,304
NET BOOK VALUE
At 30 June 2024 3,025 779 3,804
At 30 June 2023 3,559 917 4,476

7. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 54,864
NET BOOK VALUE
At 30 June 2024 54,864
At 30 June 2023 54,864

Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

7. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Sevan Caterers (Vauxhall) Limited
Registered office: C/O Woodies, Thetford Road, New Malden, KT3 5DX
Nature of business: Nightclub, restaurant & investment property.
%
Class of shares: holding
Ordinary 100.00

Sevan Restaurants Limited
Registered office: C/O Woodies, Thetford Road, New Malden, KT3 5DX
Nature of business: Provision of catering services
%
Class of shares: holding
Ordinary 100.00

Woodies (Sevan) Limited
Registered office: C/O Woodies, Thetford Road, New Malden, KT3 5DX
Nature of business: Operating a freehouse
%
Class of shares: holding
Ordinary 100.00

Sevan Caterers (CP) Limited
Registered office: C/O Woodies, Thetford Road, New Malden, KT3 5DX
Nature of business: Provision of catering services
%
Class of shares: holding
Ordinary 100.00

Dalyan (UK) Limited
Registered office: C/O Woodies, Thetford Road, New Malden, KT3 5DX
Nature of business: Did not trade in the year under review
%
Class of shares: holding
Ordinary 100.00


Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

8. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 2,660,000
NET BOOK VALUE
At 30 June 2024 2,660,000
At 30 June 2023 2,660,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2016 1,000,000
Valuation in 2017 200,000
Valuation in 2019 25,400
Cost 1,434,600
2,660,000

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

2024 2023
£    £   
Cost 1,434,600 1,434,600

Investment property was valued on fair values basis on 30 June 2024 by Mr R Halil a director .

The value of the investment properties have been assessed by the directors and in their opinion due to the volatility of the property market in the area where the properties are located there was no significant change in the value of the properties since last year.

Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Inter company 20 20 - -
Amounts owed by group undertakings - - 2,052,026 1,926,197
Other debtors 20,100 10,100 - -
Rent deposit 20,000 20,000 - -
Other debtors 37,255 - - -
Directors' current accounts 197,427 197,427 197,427 197,427
S455 tax refundable 66,632 66,632 66,632 66,632
Prepayments 66,262 59,261 - -
407,696 353,440 2,316,085 2,190,256

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 12) 325,143 163,089 372,239 188,485
Other loans (see note 12) 13,528 14,994 - -
Hire purchase contracts (see note 13) 12,655 11,196 - -
Trade creditors 284,382 201,654 9,285 5,517
Amounts owed to group undertakings - - 1,280,260 1,280,280
Corporation tax 93,593 122,742 32,040 66,632
Pensions control account 9,668 9,898 9,668 9,898
Social security and other taxes 40,246 43,766 40,246 43,766
VAT 206,925 203,664 206,925 203,664
Net wages control 209,100 196,568 28,031 26,015
Accrued holiday pay 17,487 21,286 - -
Other creditors 424 474 - -
Accrued expenses 40,006 27,068 21,000 15,000
1,253,157 1,016,399 1,999,694 1,839,257

Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 12) 824,108 943,417 154,108 243,417
Hire purchase contracts (see note 13) 8,862 15,812 - -
832,970 959,229 154,108 243,417

Amounts falling due in more than five years:

Group
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 550,000 580,000

12. LOANS

An analysis of the maturity of loans is given below:

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 208,743 46,689 285,839 102,085
Bank loans 116,400 116,400 86,400 86,400
Deposit (branches) 13,528 14,994 - -
338,671 178,083 372,239 188,485
Amounts falling due between one and two years:
Bank loans - 1-2 years 116,400 116,400 86,400 86,400
Amounts falling due between two and five years:
Bank loans - 2-5 years 157,708 247,017 67,708 157,017
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 550,000 580,000 - -

Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

13. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 15,270 13,258
Between one and five years 11,608 18,914
26,878 32,172

Finance charges repayable:
Within one year 2,615 2,062
Between one and five years 2,746 3,102
5,361 5,164

Net obligations repayable:
Within one year 12,655 11,196
Between one and five years 8,862 15,812
21,517 27,008

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 390,766 201,172
Between one and five years 1,761,330 1,370,027
In more than five years 2,769,894 1,911,548
4,921,990 3,482,747

Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

14. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans 940,508 1,059,817 240,508 329,817

Bank loans are secured by way of fixed charge over 21 - 25 Lewishamway SE14 6PP and a floating charge over all the other assets of company.

15. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 325,382 349,735 295 850

Group
Deferred
tax
£   
Balance at 1 July 2023 349,735
Credit to Income Statement during year (24,353 )
Tax on fair value gain
Excess cap. all. over deprre
Balance at 30 June 2024 325,382

Company
Deferred
tax
£   
Balance at 1 July 2023 850
Utilised during year (555 )
Excess depri. over cap. all.
Balance at 30 June 2024 295

Included in deferred tax is an amount of £274,430 (2022 - 274,430) being the tax provision on the gains that would be realised should the investment property be disposed off at the fair value.

Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
54,764 Ordinary Shares £1 54,764 54,764

17. RESERVES

Group
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2023 1,012,746 823,291 1,836,037
Profit for the year 135,033 135,033
Dividends (158,816 ) (158,816 )
At 30 June 2024 988,963 823,291 1,812,254

Company
Retained
earnings
£   

At 1 July 2023 114,608
Profit for the year 210,100
Dividends (158,816 )
At 30 June 2024 165,892


18. CONTINGENT LIABILITIES

All bank accounts of companies in the group are secured by an Unlimited Multilateral Guarantees of all companies in the group. At the year end the net liabilities of the group under the Multilateral guarantees amounted to nil (2023 - 46,689).

Sevan Leisure Holdings Limited (Registered number: 03364956)

Notes to the Consolidated Financial Statements - continued
for the year ended 30 June 2024

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mr R Halil
Balance outstanding at start of year 197,427 -
Amounts advanced - 197,427
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 197,427 197,427

20. RELATED PARTY DISCLOSURES

Key management personel

A subsidiary took out finance leases for the director's benefit. The director personally meets all the obligations under these agreements. The total outstanding balance under the agreement at the year end was £136,623 (2023 -164,121).