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Company Registration No. 13139153 (England and Wales)
7 PRIME LTD Unaudited accounts for the year ended 31 January 2024
7 PRIME LTD Unaudited accounts Contents
Page
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7 PRIME LTD Company Information for the year ended 31 January 2024
Director
Shaiju Retnakumari VIJAYANANDAN
Company Number
13139153 (England and Wales)
Registered Office
95 PRINCE AVENUE SOUTHEND-ON-SEA SS2 6RL ENGLAND
Accountants
KG ACCOUNTING SERVICES LTD LASYAM 85 KYNANCE GARDENS STANMORE MIDDLESEX HA7 2QJ
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7 PRIME LTD Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
65,673 
69,322 
Tangible assets
3,069 
3,463 
68,742 
72,785 
Current assets
Inventories
26,800 
25,500 
Debtors
3,280 
4,471 
Cash at bank and in hand
12,111 
4,947 
42,191 
34,918 
Creditors: amounts falling due within one year
(194,679)
(155,336)
Net current liabilities
(152,488)
(120,418)
Net liabilities
(83,746)
(47,633)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(83,846)
(47,733)
Shareholders' funds
(83,746)
(47,633)
For the year ending 31 January 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 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 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 and authorised for issue on 31 October 2024 and were signed on its behalf by
Shaiju Retnakumari VIJAYANANDAN Director Company Registration No. 13139153
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7 PRIME LTD Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
7 PRIME LTD is a private company, limited by shares, registered in England and Wales, registration number 13139153. The registered office is 95 PRINCE AVENUE, SOUTHEND-ON-SEA, SS2 6RL, ENGLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment.
Fixtures & fittings
20 %
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill has been recognised and due to purchase of a business on the end of the accounting period, amortisation has not been charged for this first Accounting Period. However it will be amortised over 20 years from the following Accounting Period.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 February 2023
72,971 
At 31 January 2024
72,971 
Amortisation
At 1 February 2023
3,649 
Charge for the year
3,649 
At 31 January 2024
7,298 
Net book value
At 31 January 2024
65,673 
At 31 January 2023
69,322 
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7 PRIME LTD Notes to the Accounts for the year ended 31 January 2024
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
4,329 
- 
4,329 
Additions
- 
589 
589 
At 31 January 2024
4,329 
589 
4,918 
Depreciation
At 1 February 2023
866 
- 
866 
Charge for the year
866 
117 
983 
At 31 January 2024
1,732 
117 
1,849 
Net book value
At 31 January 2024
2,597 
472 
3,069 
At 31 January 2023
3,463 
- 
3,463 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
3,280 
4,471 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
340 
377 
Taxes and social security
- 
3,172 
Other creditors
- 
10,295 
Loans from directors
194,339 
141,492 
194,679 
155,336 
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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