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REGISTERED NUMBER: SC298149 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

BRAND 7 LIMITED

BRAND 7 LIMITED (REGISTERED NUMBER: SC298149)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


BRAND 7 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: L Ewing





SECRETARY: Mrs L Ewing





REGISTERED OFFICE: 74 Strachan Road
Edinburgh
EH4 3RG





REGISTERED NUMBER: SC298149 (Scotland)





ACCOUNTANTS: MacDonald Morton Ltd
Chartered Accountants
67 March Road
Edinburgh
EH4 3SU

BRAND 7 LIMITED (REGISTERED NUMBER: SC298149)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 554
Investments 5 16,851 15,769
16,851 16,323

CURRENT ASSETS
Debtors 6 114,357 310,215
Cash at bank and in hand 529,136 383,127
643,493 693,342
CREDITORS
Amounts falling due within one year 7 2,152 17,027
NET CURRENT ASSETS 641,341 676,315
TOTAL ASSETS LESS CURRENT
LIABILITIES

658,192

692,638

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 658,190 692,636
SHAREHOLDERS' FUNDS 658,192 692,638

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 3 September 2024 and were signed by:



L Ewing - Director


BRAND 7 LIMITED (REGISTERED NUMBER: SC298149)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Brand 7 Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for services to third parties in the normal course of business, net of discounts, VAT and other related taxes. Revenue from services is recognised when services have been provided and the right to consideration has been earned.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds the following basic financial instruments.

Financial assets
Cash and cash equivalents - comprise cash in hand and deposits held with banks.

Trade and other debtors - are initially measured at the undiscounted amounts receivable from a customer, which is normally the invoiced price. Trade and other debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found an impairment loss is recognised.

Investments in equity shares which are publicly traded are recognised at the transaction price, excluding any transaction costs, and are subsequently measured at fair value through the income statement.

Financial liabilities
Trade and other creditors - are initially measured at the transaction price, including any transaction costs, and are subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of the future payments, discounted at a market rate of interest.

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 statement of financial position date.


BRAND 7 LIMITED (REGISTERED NUMBER: SC298149)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 4,500 11,903 16,403
DEPRECIATION
At 1 April 2023 4,236 11,613 15,849
Charge for year 264 290 554
At 31 March 2024 4,500 11,903 16,403
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 264 290 554

5. FIXED ASSET INVESTMENTS

The company holds investments in listed equity instruments. The fair value of the listed investments at 31 March 2024 was £16,851 (2023: £15,769).

BRAND 7 LIMITED (REGISTERED NUMBER: SC298149)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,298 11,875
Other debtors 112,059 298,340
114,357 310,215

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 1,342 3,741
Other creditors 810 13,286
2,152 17,027

8. RELATED PARTY DISCLOSURES

ML Direct Ltd - a company in which L Ewing director and shareholder has a controlling interest.

During the year the company charged ML Direct Ltd rent in the sum of £3,600 (2023: £3,600).

During the year the company charged ML Direct Ltd interest on the outstanding loan of £10,113 (2023: £14,019) with respect to the outstanding loan balance.

As at 31 March 2024 the company was due £111,718 (2023: £298,005) from ML Direct Ltd.