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REGISTERED NUMBER: 13772308 (England and Wales)



















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: Balbinder Singh Sohal





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





REGISTERED NUMBER: 13772308 (England and Wales)





AUDITORS: Brindleys Limited
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 32,500,000 32,500,000

CURRENT ASSETS
Debtors 5 11,630,660 11,633,345
Cash at bank and in hand 86 10
11,630,746 11,633,355
CREDITORS
Amounts falling due within one year 6 12,500 10,000
NET CURRENT ASSETS 11,618,246 11,623,355
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,118,246

44,123,355

CREDITORS
Amounts falling due after more than one year 7 49,068,639 47,297,669
NET LIABILITIES (4,950,393 ) (3,174,314 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (4,950,493 ) (3,174,414 )
SHAREHOLDERS' FUNDS (4,950,393 ) (3,174,314 )

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 (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 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.

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 32,500,000
NET BOOK VALUE
At 30 September 2024 32,500,000
At 30 September 2023 32,500,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Joint venture

Seven Capital Mark Limited
Registered office: 97 Park Lane, London, England, W1K 7TB
Nature of business: Development of building projects
%
Class of shares: holding
Ordinary B 50.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves 48,986,153 49,038,499
Loss for the year (52,346 ) (73,896 )

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 199,686 202,371
Other debtors 11,430,974 11,430,974
11,630,660 11,633,345

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 6,000
Accrued expenses 12,500 4,000
12,500 10,000

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) 44,153,271 44,153,271
Accruals and deferred income 4,915,368 3,144,398
49,068,639 47,297,669

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 44,153,271 44,153,271

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 44,153,271 44,153,271

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: £    £   
1 Ordinary A 1 98 98
1 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 (3,174,414 )
Deficit for the year (1,776,079 )
At 30 September 2024 (4,950,493 )

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. 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.