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REGISTERED NUMBER: 08495236 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 August 2023

for

7office Supplies Ltd

7office Supplies Ltd (Registered number: 08495236)






Contents of the Financial Statements
For The Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


7office Supplies Ltd

Company Information
For The Year Ended 31 August 2023







DIRECTORS: S A Charlton
R V Mcsweeney





REGISTERED OFFICE: Unit 12 Salmon Springs Trading Estate
Cheltenham Road
Stroud
Gloucestershire
GL6 6NU





REGISTERED NUMBER: 08495236 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

7office Supplies Ltd (Registered number: 08495236)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,666 3,362

CURRENT ASSETS
Stocks 1,500 2,000
Debtors 5 40,755 41,099
Cash at bank 44,676 45,386
86,931 88,485
CREDITORS
Amounts falling due within one year 6 65,027 60,218
NET CURRENT ASSETS 21,904 28,267
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,570

31,629

PROVISIONS FOR LIABILITIES 507 639
NET ASSETS 24,063 30,990

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 24,061 30,988
SHAREHOLDERS' FUNDS 24,063 30,990

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

7office Supplies Ltd (Registered number: 08495236)

Balance Sheet - continued
31 August 2023


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 5 March 2024 and were signed on its behalf by:




R V Mcsweeney - Director



S A Charlton - Director


7office Supplies Ltd (Registered number: 08495236)

Notes to the Financial Statements
For The Year Ended 31 August 2023

1. STATUTORY INFORMATION

7office Supplies 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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

Office Equipment - 20% on cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

7office Supplies Ltd (Registered number: 08495236)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price.

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 2 (2022 - 2 ) .

7office Supplies Ltd (Registered number: 08495236)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Office
Equipment
£   
COST
At 1 September 2022
and 31 August 2023 6,739
DEPRECIATION
At 1 September 2022 3,377
Charge for year 696
At 31 August 2023 4,073
NET BOOK VALUE
At 31 August 2023 2,666
At 31 August 2022 3,362

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 39,210 39,554
Prepayments 1,545 1,545
40,755 41,099

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 12,388 15,397
Corporation Tax 11,269 10,393
Social security and other taxes 10 1,457
VAT 12,191 11,677
Directors' current accounts 26,753 19,369
Accrued expenses 2,416 1,925
65,027 60,218