| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| SEVEN CAPITAL (KENSINGTON) LTD |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| SEVEN CAPITAL (KENSINGTON) LTD |
| SEVEN CAPITAL (KENSINGTON) LTD (REGISTERED NUMBER: 13772308) |
| 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 (KENSINGTON) 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 (KENSINGTON) LTD (REGISTERED NUMBER: 13772308) |
| Balance Sheet |
| 30 September 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | 11 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The financial statements were approved by the director and authorised for issue on |
| SEVEN CAPITAL (KENSINGTON) LTD (REGISTERED NUMBER: 13772308) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| Seven Capital (Kensington) Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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. |
| Going concern |
| The financial statements have been prepared on a going concern basis despite the loss before tax this year of £1,776,079 (2023:£1,771,276). As at 30 September 2024 the company had net liabilities of £4,950,393 (2023:£3,174,314). 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 project and sale of the units. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| SEVEN CAPITAL (KENSINGTON) LTD (REGISTERED NUMBER: 13772308) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 4. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 October 2023 |
| and 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Joint venture |
| Registered office: 97 Park Lane, London, England, W1K 7TB |
| Nature of business: |
| % |
| Class of shares: | holding |
| £ | £ |
| Aggregate capital and reserves |
| Loss for the year | ( |
) | ( |
) |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Accrued expenses |
| SEVEN CAPITAL (KENSINGTON) LTD (REGISTERED NUMBER: 13772308) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other loans (see note 8) |
| Accruals and deferred income |
| 8. | 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 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Other loans |
| Other loans are secured by fixed and floating charge over all undertakings of the company. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary A | 1 | 98 | 98 |
| Ordinary B | 1 | 2 | 2 |
| 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 80% of the dividends and distribution. |
| SEVEN CAPITAL (KENSINGTON) LTD (REGISTERED NUMBER: 13772308) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 11. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 October 2023 | ( |
) |
| Deficit for the year | ( |
) |
| At 30 September 2024 | ( |
) |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 13. | RELATED PARTY DISCLOSURES |
| At the year end, the company had an outstanding amount of £199,588. (2023 - £202,273) due from the parent company, Seven Capital Plc, which is registered in England and Wales. |
| At the year end, the company had an outstanding amount of £11,430,973 (2023- £11,430,973) due from the associated company, Seven Capital Mark Limited, which is registered in England and Wales. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The 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. |