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REGISTERED NUMBER: 01206148 (England and Wales)


Sevan Caterers (Vauxhall) Limited

Abridged Unaudited Financial Statements

for the Year Ended 30 June 2024






Sevan Caterers (Vauxhall) Limited (Registered number: 01206148)






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




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Sevan Caterers (Vauxhall) Limited

Company Information
for the year ended 30 June 2024







DIRECTOR: Mr R Halil





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





REGISTERED NUMBER: 01206148 (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
Sevan Caterers (Vauxhall) 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 Sevan Caterers (Vauxhall) Limited for the year ended 30 June 2024 which comprise the Abridged Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity 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 Sevan Caterers (Vauxhall) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sevan Caterers (Vauxhall) Limited and state those matters that we have agreed to state to the director of Sevan Caterers (Vauxhall) 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 Sevan Caterers (Vauxhall) Limited and its director for our work or for this report.

It is your duty to ensure that Sevan Caterers (Vauxhall) 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 Caterers (Vauxhall) Limited. You consider that Sevan Caterers (Vauxhall) 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 Caterers (Vauxhall) 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 Caterers (Vauxhall) Limited (Registered number: 01206148)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 711,623 755,410
Investment property 5 2,660,000 2,660,000
3,371,623 3,415,410

CURRENT ASSETS
Stocks 6 39,751 41,516
Debtors 7 111,331 68,471
Cash at bank and in hand 254,331 190,151
405,413 300,138
CREDITORS
Amounts falling due within one year 8 616,248 554,263
NET CURRENT LIABILITIES (210,835 ) (254,125 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,160,788

3,161,285

CREDITORS
Amounts falling due after more than one
year

9

(678,862

)

(715,812

)

PROVISIONS FOR LIABILITIES 13 (316,603 ) (339,690 )
NET ASSETS 2,165,323 2,105,783

Sevan Caterers (Vauxhall) Limited (Registered number: 01206148)

Statement of Financial Position - continued
30 June 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 14 100 100
Fair value reserve 15 823,291 823,291
Retained earnings 15 1,341,932 1,282,392
SHAREHOLDERS' FUNDS 2,165,323 2,105,783

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 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 Income Statement for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 7 October 2024 and were signed by:





Mr R Halil - Director


Sevan Caterers (Vauxhall) Limited (Registered number: 01206148)

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

1. STATUTORY INFORMATION

Sevan Caterers (Vauxhall) 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.

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.

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

Turnover
Turnover 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 company. Rental income is recognised when the rent becomes due at quarter end dates.

Sevan Caterers (Vauxhall) Limited (Registered number: 01206148)

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

2. ACCOUNTING POLICIES - continued

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

Cost is based on 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 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.

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.

Sevan Caterers (Vauxhall) Limited (Registered number: 01206148)

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

2. ACCOUNTING POLICIES - continued

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 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 67 (2023 - 68 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold Short to
property leasehold property
£    £    £   
COST
At 1 July 2023 497,665 297,892 53,547
Additions - 8,597 -
At 30 June 2024 497,665 306,489 53,547
DEPRECIATION
At 1 July 2023 76,078 242,611 36,041
Charge for year 8,453 9,091 4,119
At 30 June 2024 84,531 251,702 40,160
NET BOOK VALUE
At 30 June 2024 413,134 54,787 13,387
At 30 June 2023 421,587 55,281 17,506

Sevan Caterers (Vauxhall) Limited (Registered number: 01206148)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 July 2023 357,885 270,493 1,477,482
Additions 9,926 - 18,523
At 30 June 2024 367,811 270,493 1,496,005
DEPRECIATION
At 1 July 2023 186,925 180,417 722,072
Charge for year 27,135 13,512 62,310
At 30 June 2024 214,060 193,929 784,382
NET BOOK VALUE
At 30 June 2024 153,751 76,564 711,623
At 30 June 2023 170,960 90,076 755,410

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 10,612
Charge for year 5,366
At 30 June 2024 15,978
NET BOOK VALUE
At 30 June 2024 31,417
At 30 June 2023 31,738

Sevan Caterers (Vauxhall) Limited (Registered number: 01206148)

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

5. INVESTMENT PROPERTY
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 properties had not been revalued they would have been included at the following historical cost:

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

Investment property was valued on on fair value basis on 30 June 2024 by Mr Rez Halil the 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 material change in the value of the property since last year.

6. STOCKS
2024 2023
£    £   
Finished goods 39,751 41,516

Sevan Caterers (Vauxhall) Limited (Registered number: 01206148)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Inter company - Hidden 20 20
Amounts owed by group undertakings 123 123
Other debtors 20,100 10,100
Rent deposits 20,000 20,000
Other debtors 37,255 -
Prepayments 33,833 38,228
111,331 68,471

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 30,000 30,000
Other loans (see note 10) 11,694 14,494
Hire purchase contracts (see note 11) 12,655 11,196
Trade creditors 172,824 169,857
Amounts owed to group undertakings 148,854 99,456
Corporation tax 61,553 56,111
Net pay control 149,853 146,065
Accrued holiday pay 12,334 17,148
Other creditors 424 474
Accrued expenses 16,057 9,462
616,248 554,263

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 10) 670,000 700,000
Hire purchase contracts (see note 11) 8,862 15,812
678,862 715,812

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 550,000 580,000

Sevan Caterers (Vauxhall) Limited (Registered number: 01206148)

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

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 30,000 30,000
Deposit received 11,694 14,494
41,694 44,494

Amounts falling due between one and two years:
Bank loans - 1-2 years 30,000 30,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 90,000 90,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 550,000 580,000

Sevan Caterers (Vauxhall) Limited (Registered number: 01206148)

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

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

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

Non-cancellable operating leases
2024 2023
£    £   
Within one year 252,000 252,000
Between one and five years 1,067,500 316,667
In more than five years 1,521,000 1,001,000
2,840,500 1,569,667

Sevan Caterers (Vauxhall) Limited (Registered number: 01206148)

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

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 700,000 730,000

Bank loans are secured by way of a fixed charge over 21 - 25 Lewisham Way, london SE14 6PP and floating charge over all the remaining assets of the company.

13. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 316,603 339,690

Deferred
tax
£   
Balance at 1 July 2023 339,690
Deferred tax on fair value
Excess capital all. over depr (23,087 )
Balance at 30 June 2024 316,603

Included in deferred tax is an amount of £274,430 (2023 - 274,430) which is the tax provision on the gains that will arise should the investment property realise the fair value on disposal.

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100

Sevan Caterers (Vauxhall) Limited (Registered number: 01206148)

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

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

At 1 July 2023 1,282,392 823,291 2,105,683
Profit for the year 359,540 359,540
Dividends (300,000 ) (300,000 )
At 30 June 2024 1,341,932 823,291 2,165,223

16. 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).

17. RELATED PARTY DISCLOSURES

Key management personel

The company 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).

18. CONTROLLING PARTY

The controlling party is Sevan Leisure Holdings Ltd the parent company.

The ultimate controlling party is Mr R Halil.