Seven Capital (Slough) Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 10402603 (England and Wales)

Financial Statements

for the Period

29 September 2016 to 30 September 2017

for

SEVEN CAPITAL (SLOUGH) LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Damien Anthony Siviter

Balbinder Singh Sohal

REGISTERED OFFICE:

97 Park Lane

Mayfair

London

W1K 7TG

REGISTERED NUMBER:

10402603 (England and Wales)

AUDITORS:

Brindleys Limited

Statutory Auditors

2 Wheeleys Road

Edgbaston

Birmingham

West Midlands

B15 2LD

CURRENT ASSETS

Stocks

4

6,314,307

Debtors

5

8,400

Cash at bank

3,453

6,326,160

CREDITORS

Amounts falling due within one year

6

151,903

NET CURRENT ASSETS

6,174,257

TOTAL ASSETS LESS CURRENT LIABILITIES

6,174,257

CREDITORS

Amounts falling due after more than one year

7

6,179,998

NET LIABILITIES

(5,741

)

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

10

(5,841

)

SHAREHOLDERS' FUNDS

(5,741

)

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 May 2018 and were signed on its behalf by:

Balbinder Singh Sohal - Director

1.	STATUTORY INFORMATION

Seven Capital (Slough) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Taxation

Taxation for the period 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 period 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.

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.

Going concern

The financial statements have been prepared on a going concern basis despite the loss before tax this year of

£5,841. As at 30 September 2017 the company had net liabilities of £5,741. The company is reliant on the

support of the parent company and Shareholders 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.	AUDITORS' REMUNERATION

£

Fees payable to the company's auditors for the audit of the company's financial statements

1,500

The auditors were also paid the following amounts for services provided to the company:

Book - keeping fees - £2,654

4.

STOCKS

£

Stocks

6,314,307

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

VAT

8,400

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

38,402

Amounts owed to group undertakings

3,503

Accrued expenses

109,998

151,903

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other loans (see note 8)

6,179,998

8.

LOANS

An analysis of the maturity of loans is given below:

£

Amounts falling due between two and five years:

Other loans - 2-5 years

6,179,998

The loan is secured against a fixed and floating charge on the assets of the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

98

Ordinary A

1

98

2

Ordinary B

1

2

100

The following shares were allotted and fully paid for cash at par during the period:

98 Ordinary A shares of 1 each

2 Ordinary B shares of 1 each

Each Ordinary A share has one voting right and a 30% entitlement to dividend and distributions.

Each Ordinary B share has one hundred and fourteen voting rights and a 70% entitlement to dividend and

distributions.

10.

RESERVES

Retained

earnings

£

Deficit for the period

(5,841

)

At 30 September 2017

(5,841

)

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Going Concern

The financial statements have been prepared on a going concern basis despite the loss before tax this year of

£5,841. As at 30 September 2017 the company had net liabilities of £5,741. The company is reliant on the

support of the parent company and Shareholders 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.

Sajjad Sumar (Senior Statutory Auditor)

for and on behalf of Brindleys Limited

12.	RELATED PARTY DISCLOSURES

During the year, the company was charged management fees of £90,000 from its parent company, Seven Capital

Plc which is registered in England.

During the year, the company received a loan of £3,503 from its parent company, Seven Capital Plc which is

registered in England.

13.	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.