Company Registration No. 11273366 (England and Wales)
Sevenseventeen Limited
Unaudited accounts
for the year ended 31 March 2020
Sevenseventeen Limited
Unaudited accounts
Contents
Sevenseventeen Limited
Company Information
for the year ended 31 March 2020
Directors
Naomi Reilly
Sarah Slade
Company Number
11273366 (England and Wales)
Registered Office
80 Waldegrave Road
Brighton
East Sussex
BN1 6GG
England
Sevenseventeen Limited
Statement of financial position
as at 31 March 2020
Tangible assets
1,451
1,641
Cash at bank and in hand
3,860
10,783
Creditors: amounts falling due within one year
(37,963)
(24,298)
Net current liabilities
(956)
(1,515)
Called up share capital
120
120
Profit and loss account
375
6
Shareholders' funds
495
126
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2020 and were signed on its behalf by
Naomi Reilly
Director
Company Registration No. 11273366
Sevenseventeen Limited
Notes to the Accounts
for the year ended 31 March 2020
Sevenseventeen Limited is a private company, limited by shares, registered in England and Wales, registration number 11273366. The registered office is 80 Waldegrave Road, Brighton, East Sussex, BN1 6GG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on a straight line basis
Computer equipment
33.3% on a straight line basis
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Sevenseventeen Limited
Notes to the Accounts
for the year ended 31 March 2020
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2019
1,766
475
2,241
At 31 March 2020
2,311
475
2,786
At 1 April 2019
441
159
600
Charge for the year
577
158
735
At 31 March 2020
1,018
317
1,335
At 31 March 2020
1,293
158
1,451
At 31 March 2019
1,325
316
1,641
Finished goods
33,000
12,000
7
Creditors: amounts falling due within one year
2020
2019
Taxes and social security
4,736
4,846
Loans from directors
31,824
19,452
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
20 Ordinary 'A' shares of £1 each
20
20
9
Average number of employees
During the year the average number of employees was 2 (2019: 2).
