SEVEN GLOBAL INVESTMENTS LTD - Period Ending 2017-07-31

Registration number: 9117533

SEVEN GLOBAL INVESTMENTS LTD

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2017

Accounting 2 Trend Ltd
3 The Shrubberies
George Lane
London
E18 1BD

SEVEN GLOBAL INVESTMENTS LTD

Contents

Company Information	1
Directors' Report	2
Profit and Loss Account	3
Statement of Comprehensive Income	4
Balance Sheet	5
Statement of Changes in Equity	6
Notes to the Financial Statements	7 to 9

SEVEN GLOBAL INVESTMENTS LTD

Company Information

Directors

Woodford Directors Limited Miss Sarah Ann Maria Trillo-Blanco

Company secretary

Woodford Services Limited

Registered office

3 The Shrubberies George Lane South Woodford E18 1BG

Accountants

Accounting 2 Trend Ltd 3 The Shrubberies George Lane London E18 1BD

Page 1

SEVEN GLOBAL INVESTMENTS LTD

Directors' Report for the Year Ended 31 July 2017

The directors present their report and the financial statements for the year ended 31 July 2017.

Directors of the company

The directors who held office during the year were as follows:

Woodford Directors Limited

Mrs Sarah Lynn Hulme (resigned 1 June 2017)

Miss Sarah Ann Maria Trillo-Blanco (appointed 1 June 2017)

Principal activity

The principal activity of the company is that of an investment holding company.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 30 April 2018 and signed on its behalf by:

......................................... Miss Sarah Ann Maria Trillo-Blanco Director

Page 2

SEVEN GLOBAL INVESTMENTS LTD

Profit and Loss Account for the Year Ended 31 July 2017

	Note	2017 €	2016 €
Turnover		-	-
Administrative expenses		(7,000)	(846)
Operating loss		(7,000)	(846)
Amounts written off investments		(117,298)	-
		(117,298)	-
Loss before tax		(124,298)	(846)
Loss for the financial year		(124,298)	(846)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 3

SEVEN GLOBAL INVESTMENTS LTD

Statement of Comprehensive Income for the Year Ended 31 July 2017

	2017 €	2016 €
Loss for the year	(124,298)	(846)
Total comprehensive income for the year	(124,298)	(846)

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 4

SEVEN GLOBAL INVESTMENTS LTD

(Registration number: 9117533)
Balance Sheet as at 31 July 2017

	Note	2017 €	2016 €
Fixed assets
Investments	3	2	117,300
Current assets
Cash at bank and in hand		1	1
Creditors: Amounts falling due within one year	4	(126,612)	(119,612)
Net current liabilities		(126,611)	(119,611)
Net liabilities		(126,609)	(2,311)
Capital and reserves
Called up share capital		1	1
Profit and loss account		(126,610)	(2,312)
Total equity		(126,609)	(2,311)

For the financial year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 30 April 2018 and signed on its behalf by:
 

......................................... Miss Sarah Ann Maria Trillo-Blanco Director

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 5

SEVEN GLOBAL INVESTMENTS LTD

Statement of Changes in Equity for the Year Ended 31 July 2017

	Share capital €	Profit and loss account €	Total €
At 1 August 2016	1	(2,312)	(2,311)
Loss for the year	-	(124,298)	(124,298)
Total comprehensive income	-	(124,298)	(124,298)
At 31 July 2017	1	(126,610)	(126,609)

	Share capital €	Profit and loss account €	Total €
At 1 August 2016	1	(1,466)	(1,465)
Loss for the year	-	(846)	(846)
Total comprehensive income	-	(846)	(846)
At 31 July 2016	1	(2,312)	(2,311)

The notes on pages 7 to 9 form an integral part of these financial statements.

Page 6

SEVEN GLOBAL INVESTMENTS LTD

Notes to the Financial Statements for the Year Ended 31 July 2017

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3 The Shrubberies
George Lane
South Woodford
E18 1BG
United Kingdom

These financial statements were authorised for issue by the Board on 30 April 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 7

SEVEN GLOBAL INVESTMENTS LTD

Notes to the Financial Statements for the Year Ended 31 July 2017

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Investments

	2017 €	2016 €
Investments in subsidiaries	2	117,300

Subsidiaries	€
Cost or valuation
At 1 August 2016	117,300
Revaluation	(117,298)
At 31 July 2017	2
Provision
Carrying amount
At 31 July 2017	2
At 31 July 2016	117,300

Page 8

SEVEN GLOBAL INVESTMENTS LTD

Notes to the Financial Statements for the Year Ended 31 July 2017

4

Creditors

Creditors: amounts falling due within one year

	2017 €	2016 €
Due within one year
Accruals and deferred income	-	1,545
Other creditors	126,612	118,067
	126,612	119,612

5	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	€	No.	€
Ordinary shares of £1 each	1	1	1	1

6	Related party transactions

Loans from related parties

2017	Other related parties €
At start of period	118,067
Advanced	1,545
At end of period	119,612

2016	Other related parties €
At start of period	118,067

Page 9

SEVEN GLOBAL INVESTMENTS LTD

Detailed Profit and Loss Account for the Year Ended 31 July 2017

	2017 €	2016 €
Turnover (analysed below)	-	-
Administrative expenses
General administrative expenses (analysed below)	(7,000)	(846)
Operating loss	(7,000)	(846)
Amounts written off investments (analysed below)	(117,298)	-
Loss before tax	(124,298)	(846)

This page does not form part of the statutory financial statements.

Page 10

SEVEN GLOBAL INVESTMENTS LTD

Detailed Profit and Loss Account for the Year Ended 31 July 2017

2017 €

2016 €

General administrative expenses
Accountancy fees	(739)	(846)
Management fees	(6,261)	-
	(7,000)	(846)

Amounts written off investments
Written off fixed asset investments	117,298	-

This page does not form part of the statutory financial statements.

Page 11