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REGISTERED NUMBER: 08289542 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 November 2022

for

7Active Ltd

7Active Ltd (Registered number: 08289542)

Contents of the Financial Statements
for the Year Ended 30 November 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


7Active Ltd

Company Information
for the Year Ended 30 November 2022







DIRECTORS: J M Rew
S G Carter





REGISTERED OFFICE: St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN





REGISTERED NUMBER: 08289542 (England and Wales)





ACCOUNTANTS: Clay GBP Ltd
St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN

7Active Ltd (Registered number: 08289542)

Balance Sheet
30 November 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 122 717

CURRENT ASSETS
Debtors 5 981,848 1,489,923
Cash at bank 220,613 815,407
1,202,461 2,305,330
CREDITORS
Amounts falling due within one year 6 277,652 716,168
NET CURRENT ASSETS 924,809 1,589,162
TOTAL ASSETS LESS CURRENT LIABILITIES 924,931 1,589,879

CREDITORS
Amounts falling due after more than one year 7 - 125,000
NET ASSETS 924,931 1,464,879

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 924,930 1,464,878
SHAREHOLDERS' FUNDS 924,931 1,464,879

7Active Ltd (Registered number: 08289542)

Balance Sheet - continued
30 November 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:





J M Rew - Director


7Active Ltd (Registered number: 08289542)

Notes to the Financial Statements
for the Year Ended 30 November 2022


1. STATUTORY INFORMATION

7Active 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 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 comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, sales returns, rebates and discounts.

Revenue is recognised on the provision of services. Where not all services have been rendered, revenue is recognised based upon the period lapsed compared with total period of the project.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of a company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the income statement.

Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs).

Trade debtors
Trade debtors are recognised initially at transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivable.

Trade creditors
Trade creditors 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 amounts falling due after more than one year.

Equity instruments
Equity instruments are measured at the fair value of the cash or other resources transferred or transferrable, net of the direct costs of issuing or receiving the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

7Active Ltd (Registered number: 08289542)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2021
and 30 November 2022 2,985
DEPRECIATION
At 1 December 2021 2,268
Charge for year 595
At 30 November 2022 2,863
NET BOOK VALUE
At 30 November 2022 122
At 30 November 2021 717

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 93,362 40,232
Amounts owed by participating interests 383,552 764,316
Other debtors 504,934 685,375
981,848 1,489,923

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 125,000 125,000
Trade creditors 8,448 135,733
Taxation and social security 35,544 328,815
Other creditors 108,660 126,620
277,652 716,168

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 125,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
Value: £    £   
50,000 Ordinary A £0.00001 0.50 0.50
50,000 Ordinary B £0.00001 0.50 0.50
1 1

7Active Ltd (Registered number: 08289542)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2022 and 30 November 2021:

2022 2021
£    £   
J M Rew
Balance outstanding at start of year 257,136 40,146
Amounts advanced 207,820 216,990
Amounts repaid (210,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 254,956 257,136

S G Carter
Balance outstanding at start of year 180,892 50,717
Amounts advanced 90,480 130,175
Amounts repaid (90,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 181,372 180,892

The above loan represents the highest balance during the year. The loan was provided with no fixed repayment terms and no security.