7 Step Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06855536 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2020

for

7 Step Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P Whitehouse

REGISTERED OFFICE:

Southwick

Squires Hill Lane

Farnham

GU10 2AD

REGISTERED NUMBER:

06855536 (England and Wales)

ACCOUNTANTS:

SJD Accountancy

12th Floor

30 Crown Place

London

EC2A 2AL

FIXED ASSETS

Tangible assets

4

3,595

Investments

5

51,970

55,565

CURRENT ASSETS

Debtors

6

17,457

Cash at bank

175,121

192,578

CREDITORS

Amounts falling due within one year

7

20,149

NET CURRENT ASSETS

172,429

TOTAL ASSETS LESS CURRENT LIABILITIES

227,994

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

227,894

SHAREHOLDERS' FUNDS

227,994

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 8 September 2020 and were signed by:

P Whitehouse - Director

1.	STATUTORY INFORMATION

7 Step Limited 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2019

-

6,936

6,936

Additions

799

2,363

3,162

At 31 July 2020

799

9,299

10,098

DEPRECIATION

At 1 August 2019

-

5,305

5,305

Charge for year

200

998

1,198

At 31 July 2020

200

6,303

6,503

NET BOOK VALUE

At 31 July 2020

599

2,996

3,595

At 31 July 2019

-

1,631

1,631

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 August 2019

151,944

Additions

60,000

Disposals

(162,847

)

Share of profit/(loss)

2,873

At 31 July 2020

51,970

NET BOOK VALUE

At 31 July 2020

51,970

At 31 July 2019

151,944

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Directors' current accounts

17,288

Prepayments

169

17,457

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Corporation tax

15,547

VAT

4,602

20,149

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the yearend 31/07/2020 director owes to company £17,287.95...Director intend to repay this loan within 9

months of the yearend.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is P Whitehouse.