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REGISTERED NUMBER: 10094686 (England and Wales)















Financial Statements for the Year Ended 30 November 2023

for

Seventy7 Group Ltd

Seventy7 Group Ltd (Registered number: 10094686)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

Seventy7 Group Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: D Walter
Miss J Riley





REGISTERED OFFICE: The Old School House
Thirsk Street
Ardwick Green
Manchester
M12 6PN





REGISTERED NUMBER: 10094686 (England and Wales)





ACCOUNTANTS: Lomas and Company Accountants Limited
Bridge House
12 Market Street
Glossop
Derbyshire
SK13 8AR

Seventy7 Group Ltd (Registered number: 10094686)

Statement of Financial Position
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Investments 5 150,377 150,377

CURRENT ASSETS
Debtors: amounts falling due within one year 6 329,003 419,407
Cash at bank 125,851 103,012
454,854 522,419
CREDITORS
Amounts falling due within one year 7 133,605 133,248
NET CURRENT ASSETS 321,249 389,171
TOTAL ASSETS LESS CURRENT
LIABILITIES

471,626

539,548

CREDITORS
Amounts falling due after more than one
year

8

126,666

206,664
NET ASSETS 344,960 332,884

CAPITAL AND RESERVES
Called up share capital 119,301 119,301
Retained earnings 225,659 213,583
SHAREHOLDERS' FUNDS 344,960 332,884

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2024 and were signed on its behalf by:





Miss J Riley - Director


Seventy7 Group Ltd (Registered number: 10094686)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Seventy7 Group 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its accounts.

Preparation of consolidated financial statements
The financial statements contain information about Seventy7 Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are held at cost less impairment.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


Seventy7 Group Ltd (Registered number: 10094686)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2022
and 30 November 2023 150,377
NET BOOK VALUE
At 30 November 2023 150,377
At 30 November 2022 150,377

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Amounts owed by group undertakings 318,114 410,687
Prepayments 10,889 8,720
329,003 419,407

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 80,000 80,000
Trade creditors 25,088 20,423
Social security and other taxes 6,843 7,874
VAT 11,908 12,246
Directors' current accounts 5,210 9,091
Accrued expenses 4,556 3,614
133,605 133,248

Seventy7 Group Ltd (Registered number: 10094686)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans - 1-2 years 80,000 80,000
Bank loans - 2-5 years 46,666 126,664
126,666 206,664

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Seventy7 Group Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Seventy7 Group Ltd for the year ended 30 November 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Seventy7 Group Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Seventy7 Group Ltd and state those matters that we have agreed to state to the Board of Directors of Seventy7 Group Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Seventy7 Group Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Seventy7 Group Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Seventy7 Group Ltd. You consider that Seventy7 Group Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Seventy7 Group Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lomas and Company Accountants Limited
Bridge House
12 Market Street
Glossop
Derbyshire
SK13 8AR


18 April 2024