Company Registration No. 12628086 (England and Wales)
7th Letter Ltd
Unaudited accounts
for the year ended 31 May 2024
7th Letter Ltd
Unaudited accounts
Contents
7th Letter Ltd
Company Information
for the year ended 31 May 2024
Directors
Nicola Jane Tansley
Paul Stewart Rumford
Company Number
12628086 (England and Wales)
Registered Office
The Bungalow
7 Tofts Hill, Stathern
Melton Mowbray
Leicestershire
LE14 4HU
Accountants
Andrew B Sharkey Ltd
Jasmine Cottage
Rowland
Bakewell
Derbyshire
DE45 1NR
7th Letter Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
10,177
11,077
Investment property
383,002
383,002
Cash at bank and in hand
20,470
28,650
Creditors: amounts falling due within one year
(188,339)
(201,612)
Net current liabilities
(167,869)
(172,962)
Total assets less current liabilities
225,310
221,117
Creditors: amounts falling due after more than one year
(211,980)
(211,980)
Called up share capital
2
2
Profit and loss account
13,328
9,135
Shareholders' funds
13,330
9,137
For the year ending 31 May 2024 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 24 July 2024 and were signed on its behalf by
Nicola Jane Tansley
Director
Company Registration No. 12628086
7th Letter Ltd
Notes to the Accounts
for the year ended 31 May 2024
7th Letter Ltd is a private company, limited by shares, registered in England and Wales, registration number 12628086. The registered office and principal place of business is The Bungalow, 7 Tofts Hill, Stathern, Melton Mowbray, Leicestershire, LE14 4HU.
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.
Investment property is included at fair value. Gains are recognised in the income statement.
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:
Plant & machinery
20% reducing balance
Fixtures & fittings
20% reducing balance
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2023
13,759
4,314
18,073
At 31 May 2024
15,403
4,314
19,717
At 1 June 2023
5,411
1,585
6,996
Charge for the year
1,998
546
2,544
At 31 May 2024
7,409
2,131
9,540
At 31 May 2024
7,994
2,183
10,177
At 31 May 2023
8,348
2,729
11,077
Fair value at 1 June 2023
383,002
7th Letter Ltd
Notes to the Accounts
for the year ended 31 May 2024
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,221
48
Loans from directors
187,118
201,564
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
211,980
211,980
Aggregate of amounts that fall due for payment after five years
211,980
211,980
The mortgage loan is interest only and repayable over 15 years. The mortgage is secured by a legal mortgage; a fixed and floating charge over all of the company's assets; a charge over the deposits in the sum of £10,790 and personal guarantees by the directors.
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).