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REGISTERED NUMBER: 11809207 (England and Wales)



















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: Balbinder Singh Sohal





REGISTERED OFFICE: 97 Park Lane
Mayfair
London
W1K 7TG





REGISTERED NUMBER: 11809207 (England and Wales)





AUDITORS: Brindleys Limited
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 52,859,476 48,509,738
Debtors 4 256,734 36,846
Cash at bank and in hand 16,434 2,606
53,132,644 48,549,190
CREDITORS
Amounts falling due within one year 5 3,781,791 22,307,033
NET CURRENT ASSETS 49,350,853 26,242,157
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,350,853

26,242,157

CREDITORS
Amounts falling due after more than one year 6 49,388,058 26,268,767
NET LIABILITIES (37,205 ) (26,610 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (37,305 ) (26,710 )
SHAREHOLDERS' FUNDS (37,205 ) (26,610 )

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 Income Statement 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 (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 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.

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.

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 98 98
Other debtors 235,661 -
VAT 7,911 27,844
Deferred tax asset 12,435 8,904
Prepayments 629 -
256,734 36,846

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 82,695 418,845
Amounts owed to group undertakings 3,471,600 656,600
Other creditors - 21,200,000
Accrued expenses 227,496 31,588
3,781,791 22,307,033

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) 46,223,000 24,900,000
Accruals and deferred income 3,165,058 1,368,767
49,388,058 26,268,767

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 46,223,000 24,900,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 46,223,000 24,900,000

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: £    £   
1 Ordinary 1 98 98
1 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.

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

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 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.