Seven Capital (Regency Place) Ltd - Accounts to registrar (filleted) - small 18.2
Seven Capital (Regency Place) Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 September 2021 |
for |
SEVEN CAPITAL (REGENCY PLACE) LTD |
SEVEN CAPITAL (REGENCY PLACE) LTD (REGISTERED NUMBER: 09795031) |
Contents of the Financial Statements |
for the Year Ended 30 September 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
SEVEN CAPITAL (REGENCY PLACE) LTD |
Company Information |
for the Year Ended 30 September 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
2 Wheeleys Road |
Edgbaston |
Birmingham |
West Midlands |
B15 2LD |
SEVEN CAPITAL (REGENCY PLACE) LTD (REGISTERED NUMBER: 09795031) |
Statement of Financial Position |
30 September 2021 |
2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Share premium | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss Accout and Other Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SEVEN CAPITAL (REGENCY PLACE) LTD (REGISTERED NUMBER: 09795031) |
Notes to the Financial Statements |
for the Year Ended 30 September 2021 |
1. | STATUTORY INFORMATION |
Seven Capital (Regency Place) Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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 the assets of the company 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 (REGENCY PLACE) LTD (REGISTERED NUMBER: 09795031) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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 (2020 - NIL). |
4. | AUDITORS' REMUNERATION |
2021 | 2020 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's financial statements |
1,000 |
1,000 |
5. | STOCKS |
2021 | 2020 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
VAT |
Prepayments |
SEVEN CAPITAL (REGENCY PLACE) LTD (REGISTERED NUMBER: 09795031) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
Tax |
Accrued expenses |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
Ordinary A | 1 | 750 | 750 |
Ordinary B | 1 | 140 | 140 |
890 | 890 |
Each Ordinary A share has one voting right and right to receive 30% of dividends and distributions. |
Each Ordinary B share has one voting right and right to receive 70% of dividends and distributions. |
9. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 October 2020 | 1,680,196 |
Deficit for the year | ( |
) | ( |
) |
At 30 September 2021 | 1,633,278 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | RELATED PARTY DISCLOSURES |
At the year end date, the company had outstanding amounts from the following companies which are registered in England and Wales: |
1. Parent company, Seven Capital Plc £100,000 (2020 : £151,730). |
2. Associated company, Seven Capital (Pineham) Ltd £1,430,000 (2020 : £1,435,000). |
3. Related company, Group 7 Properties Limited £19,265 (2020: £19,265). |
SEVEN CAPITAL (REGENCY PLACE) LTD (REGISTERED NUMBER: 09795031) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
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. |