| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| SEVEN CAPITAL (HIGHGATE HILL) LTD |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| SEVEN CAPITAL (HIGHGATE HILL) LTD |
| SEVEN CAPITAL (HIGHGATE HILL) LTD (REGISTERED NUMBER: 11809207) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| SEVEN CAPITAL (HIGHGATE HILL) LTD |
| Company Information |
| for the Year Ended 30 September 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| 2 Wheeleys Road |
| Edgbaston |
| Birmingham |
| West Midlands |
| B15 2LD |
| SEVEN CAPITAL (HIGHGATE HILL) LTD (REGISTERED NUMBER: 11809207) |
| Balance Sheet |
| 30 September 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank and in hand |
| 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 | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The financial statements were approved by the director and authorised for issue on |
| SEVEN CAPITAL (HIGHGATE HILL) LTD (REGISTERED NUMBER: 11809207) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| Seven Capital (Highgate Hill) Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Stocks |
| 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 overheadsdirectly attributable to the project are carried forward as stock until 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 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 (HIGHGATE HILL) LTD (REGISTERED NUMBER: 11809207) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 marketrate of interest. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost using theeffective 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 |
| Going concern |
| The financial statements have been prepared on a going concern basis despite the loss before tax this year of £14,126 (2023: £17,593). As at 30 September 2024 the company had net liabilities of £37,205 (2023: £26,610). The company is reliant on the support of the parent company to enable it to continue in operational existence for the foreseeable future. The director consider it appropriate to prepare the financial statements on a going concern basis due to the eventual profit expected to be realised on completion of the conversion of the property and sale of the flats. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| VAT |
| Deferred tax asset |
| Prepayments |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Other creditors |
| Accrued expenses |
| SEVEN CAPITAL (HIGHGATE HILL) LTD (REGISTERED NUMBER: 11809207) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other loans (see note 7) |
| Accruals and deferred income |
| Other creditors represent amount for purchase of property payable after one year. |
| Accruals and deferred income relates to accruals of £3,165,058 (2023: £1,368,767) for interest on the loans which are payable upon completion of the project. |
| 7. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due between two and five years: |
| Other loans - 2-5 years |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Other loans |
| The loans are secured by a fixed and floating charge over all the assets of the company. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | 1 | 98 | 98 |
| Ordinary B | 1 | 2 | 2 |
| 100 | 100 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| SEVEN CAPITAL (HIGHGATE HILL) LTD (REGISTERED NUMBER: 11809207) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 11. | RELATED PARTY DISCLOSURES |
| At the year end, the company had an outstanding amount of £2,110,000 (2023: £nil) due to the parent company, Seven Capital Plc, which is registered in England and Wales. |
| At the year end, the company had an outstanding amount of £425,000 (2023: £nil) due to the associated company, Seven Capital (Chelmsford) Ltd, which is registered in England and Wales. |
| At the year end, the company had an outstanding amount of £916,600 (2023: £656,000) due to the associated company, Seven Capital (Broadway) Ltd, which is registered in England and Wales. |
| At the year end, the company had an outstanding amount of £20,000 (2023: £nil) due to the associated company, Seven Capital (Harborne) Ltd, which is registered in England and Wales. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |
| 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. |