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REGISTERED NUMBER: 09667793 (England and Wales)


Kervan Banqueting Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024






Kervan Banqueting Limited (Registered number: 09667793)






Contents of the Financial Statements
for the year ended 31 March 2024




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 2024







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 2024 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


24 December 2024

Kervan Banqueting Limited (Registered number: 09667793)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 31,019 31,876
Investment property 5 4,500,256 4,500,256
4,531,275 4,532,132

CURRENT ASSETS
Debtors 6 1,900,988 47,102
Cash at bank and in hand 345,582 1,352,958
2,246,570 1,400,060
CREDITORS
Amounts falling due within one year 7 892,532 772,406
NET CURRENT ASSETS 1,354,038 627,654
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,885,313

5,159,786

CREDITORS
Amounts falling due after more than one
year

8

(1,110,079

)

(1,156,395

)

PROVISIONS FOR LIABILITIES 10 (61,929 ) (60,900 )
NET ASSETS 4,713,305 3,942,491

Kervan Banqueting Limited (Registered number: 09667793)

Statement of Financial Position - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 1 1
Fair value reserve 12 233,807 233,807
Retained earnings 12 4,479,497 3,708,683
SHAREHOLDERS' FUNDS 4,713,305 3,942,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Statement of Income and Retained Earnings for the year ended 31 March 2024 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 24 December 2024 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 2024

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 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
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 17 (2023 - 12 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023 45,213 52,135 97,348
Additions 6,782 209 6,991
At 31 March 2024 51,995 52,344 104,339
DEPRECIATION
At 1 April 2023 27,106 38,366 65,472
Charge for year 4,978 2,870 7,848
At 31 March 2024 32,084 41,236 73,320
NET BOOK VALUE
At 31 March 2024 19,911 11,108 31,019
At 31 March 2023 18,107 13,769 31,876

Kervan Banqueting Limited (Registered number: 09667793)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 4,500,256
NET BOOK VALUE
At 31 March 2024 4,500,256
At 31 March 2023 4,500,256

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 288,650
Cost 4,211,606
4,500,256

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

2024 2023
£    £   
Cost 4,211,606 4,211,606

Investment property was valued on a fair value basis on 31 March 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,000 30,000
Other debtors 1,898,988 17,102
1,900,988 47,102

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 45,960 43,500
Trade creditors 6,508 29,874
Taxation and social security 277,181 290,773
Other creditors 562,883 408,259
892,532 772,406

Kervan Banqueting Limited (Registered number: 09667793)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,110,079 1,156,395

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 926,239 982,395

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,156,039 1,199,895

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

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 61,929 60,900

Deferred
tax
£   
Balance at 1 April 2023 60,900
Charge to Statement of Income and Retained Earnings during year 1,029
Balance at 31 March 2024 61,929

11. CALLED UP SHARE CAPITAL

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

Kervan Banqueting Limited (Registered number: 09667793)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

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

At 1 April 2023 3,708,683 233,807 3,942,490
Profit for the year 770,814 770,814
At 31 March 2024 4,479,497 233,807 4,713,304

13. RELATED PARTY DISCLOSURES

Key management personel:
Included in other creditors is an amount owed to key management personnel at balance sheet date of £414,896 (2023: £387,520). This is an interest free loan and has no fixed repayment terms.


Companies under the control of key management personel:
Included in other debtors is an amount owed from a company at balance sheet date of £1,884,400 (2023: Nil). This is an interest free loan and has no fixed repayment terms.

Included in other creditors is an amount owed to a company at balance sheet date of £120,000 (2023: Nil). This is an interest free loan and has no fixed repayment terms.