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REGISTERED NUMBER: 09246831 (England and Wales)



















Financial Statements

for the Year Ended 30 September 2024

for

SEVEN CAPITAL (BROADWAY) LIMITED

SEVEN CAPITAL (BROADWAY) LIMITED (REGISTERED NUMBER: 09246831)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


SEVEN CAPITAL (BROADWAY) LIMITED

Company Information
for the Year Ended 30 September 2024







DIRECTOR: Balbinder Singh Sohal





REGISTERED OFFICE: 97 Park Lane
Mayfair
London
London
W1K 7TG





REGISTERED NUMBER: 09246831 (England and Wales)





AUDITORS: Brindleys Limited
Statutory Auditors
2 Wheeleys Road
Edgbaston
Birmingham
West Midlands
B15 2LD

SEVEN CAPITAL (BROADWAY) LIMITED (REGISTERED NUMBER: 09246831)

Statement of Financial Position
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 5 1 1

CURRENT ASSETS
Stocks 6 16,819,824 16,819,824
Debtors 7 2,256,616 2,135,307
Cash at bank and in hand 3,349 17,865
19,079,789 18,972,996
CREDITORS
Amounts falling due within one year 8 1,353,977 1,373,434
NET CURRENT ASSETS 17,725,812 17,599,562
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,725,813

17,599,563

CREDITORS
Amounts falling due after more than one year 9 7,367,888 7,367,888
NET ASSETS 10,357,925 10,231,675

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 10,357,825 10,231,575
SHAREHOLDERS' FUNDS 10,357,925 10,231,675

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account and Other Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 May 2025 and were signed by:





Balbinder Singh Sohal - Director


SEVEN CAPITAL (BROADWAY) LIMITED (REGISTERED NUMBER: 09246831)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Seven Capital (Broadway) 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.

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

Costs incurred by the company for the conversion of commercial property into residential flats including overheads directly attributable to the project are carried forward as stock until all have been disposed of. The profit/loss will be realised in the accounting period in which the flats are sold.

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.

SEVEN CAPITAL (BROADWAY) LIMITED (REGISTERED NUMBER: 09246831)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Basic 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.

3. EMPLOYEES AND DIRECTORS

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

4. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

3,000

3,500

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 October 2023
and 30 September 2024 1
NET BOOK VALUE
At 30 September 2024 1
At 30 September 2023 1

6. STOCKS
2024 2023
£    £   
Closing work in progress 16,819,824 16,819,824

SEVEN CAPITAL (BROADWAY) LIMITED (REGISTERED NUMBER: 09246831)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 50,363 122,547
Amounts owed by group undertakings 946,600 821,600
Other debtors 1,258,500 1,190,000
VAT 1,153 -
Prepayments - 1,160
2,256,616 2,135,307

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 24,216 6,951
Amounts owed to group undertakings 991,725 969,435
Corporation Tax 187,154 176,239
VAT - 32,001
Other creditors 109,582 180,308
Accrued expenses 41,300 8,500
1,353,977 1,373,434

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Accruals and deferred income 7,367,888 7,367,888

Accruals and deferred income relates to accruals of £7,367,888 (2023: £7,367,888) for interest on the loans which are payable upon completion of the project.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
98 Ordinary A 1 98 98
1 Ordinary B 1 1 1
1 Ordinary C 1 1 1
100 100

Each Ordinary A Share has one voting right and right to receive 20% of the dividends and distribution.

Each Ordinary B Share has one voting right and right to receive 64% of the dividends and distribution.

Each Ordinary C share has one voting right and right to receive 16% of the dividends and distribution.

SEVEN CAPITAL (BROADWAY) LIMITED (REGISTERED NUMBER: 09246831)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

11. RESERVES
Retained
earnings
£   

At 1 October 2023 10,231,575
Profit for the year 126,250
At 30 September 2024 10,357,825

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sajjad Sumar (Senior Statutory Auditor)
for and on behalf of Brindleys Limited

13. CONTINGENT LIABILITIES

The directors are aware of cladding remedial work that is required to the development project completed.
The cost of these remedial works has not yet been quantified.

14. 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.

During the year, the company was charged management fees of £40,000 (2023: £102,000) by its parent company Seven Capital Plc which is registered in England.

At the year end, the company had outstanding amount payable to the following companies which are registered in England:

1. Seven Capital Plc, Parent company of £147 (2023:£147)
2. Seven Capital (Fabric Square) Ltd , associated company of £8,776 (2023: £8,776)
3.Seven Capital (1 Hagley Road) Ltd, associated company of £200,000 (2023: £200,000)
4.Seven Capital (Broadway Residences) Ltd, associated company of £782,802 (2023: £760,512)

At the year end, the company had outstanding amount receivables from the following companies which are registered in England:

1. Seven Capital (Chelmsford) Ltd, associated company of £Nil (2023:£155,000)
2. Seven Capital (DMS) Ltd , associated company of £30,000 (2023: £10,000)
3. Seven Capital (Highgate Hill) Ltd , associated company of £916,600 (2023: £656,000)

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Seven Capital Plc.

The consolidated group accounts can be found at the registered office of the parent company Seven Capital Plc at 97 Park Lane, Mayfair, London W1K 7TG.