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Registered number: 09377502
Sevengage Limited
Financial Statements
For The Year Ended 31 March 2024
MSE Business Management LLP
Association of Chartered Certified Accountants
1st Floor
104 Oxford Street
London
Greater London
W1D 1LP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09377502
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,144 11,322
19,144 11,322
CURRENT ASSETS
Debtors 5 64,016 89,642
Cash at bank and in hand 336,988 324,613
401,004 414,255
Creditors: Amounts Falling Due Within One Year 6 (93,908 ) (104,536 )
NET CURRENT ASSETS (LIABILITIES) 307,096 309,719
TOTAL ASSETS LESS CURRENT LIABILITIES 326,240 321,041
NET ASSETS 326,240 321,041
CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 3,066 3,066
Profit and Loss Account 323,074 317,875
SHAREHOLDERS' FUNDS 326,240 321,041
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jamie Caring
Director
17/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sevengage Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09377502 . The registered office is 1st Floor, 104 Oxford Street, London, Greater London, W1D 1LP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of Value Added Tax. Turnover includes revenue earned from the rendering of consultancy services. 
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Computer Equipment 25% straight line
2.4. Financial Instruments
The company has only basic financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities
Basic financial liabilities, which include creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transactions.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 28,243 16,192 44,435
Additions 19,983 - 19,983
Disposals - (2,461 ) (2,461 )
As at 31 March 2024 48,226 13,731 61,957
Depreciation
As at 1 April 2023 20,906 12,207 33,113
Provided during the period 9,723 1,924 11,647
Disposals - (1,947 ) (1,947 )
As at 31 March 2024 30,629 12,184 42,813
Net Book Value
As at 31 March 2024 17,597 1,547 19,144
As at 1 April 2023 7,337 3,985 11,322
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 40,342 20,449
Prepayments and accrued income 23,674 69,193
64,016 89,642
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,857 857
Corporation tax 57,022 49,286
VAT 9,445 13,005
Other creditors - 7,813
Accruals and deferred income 4,123 5,227
Director's loan account 17,461 28,348
93,908 104,536
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4
Page 5
8. Reserves
Revaluation Reserve
£
As at 1 April 2023 3,066
As at 31 March 2024 3,066
Page 5