Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 10624228 Mr Gianni Romagno Mr Max Natalini Ms Anna Mauro SevenGrams S.R.L 10/12 Via Degli Olivetani, Milano 20123, Italy false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10624228 2023-02-28 10624228 2024-02-29 10624228 2023-03-01 2024-02-29 10624228 frs-core:CurrentFinancialInstruments 2024-02-29 10624228 frs-core:Non-currentFinancialInstruments 2024-02-29 10624228 frs-core:ComputerEquipment 2024-02-29 10624228 frs-core:ComputerEquipment 2023-03-01 2024-02-29 10624228 frs-core:ComputerEquipment 2023-02-28 10624228 frs-core:FurnitureFittings 2024-02-29 10624228 frs-core:FurnitureFittings 2023-03-01 2024-02-29 10624228 frs-core:FurnitureFittings 2023-02-28 10624228 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-29 10624228 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 10624228 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 10624228 frs-core:PlantMachinery 2024-02-29 10624228 frs-core:PlantMachinery 2023-03-01 2024-02-29 10624228 frs-core:PlantMachinery 2023-02-28 10624228 frs-core:SharePremium 2024-02-29 10624228 frs-core:ShareCapital 2024-02-29 10624228 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 10624228 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10624228 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 10624228 frs-bus:SmallEntities 2023-03-01 2024-02-29 10624228 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 10624228 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 10624228 1 2023-03-01 2024-02-29 10624228 frs-bus:Director1 2023-03-01 2024-02-29 10624228 frs-bus:Director2 2023-03-01 2024-02-29 10624228 frs-bus:Director3 2023-03-01 2024-02-29 10624228 frs-countries:EnglandWales 2023-03-01 2024-02-29 10624228 2022-02-28 10624228 2023-02-28 10624228 2022-03-01 2023-02-28 10624228 frs-core:CurrentFinancialInstruments 2023-02-28 10624228 frs-core:Non-currentFinancialInstruments 2023-02-28 10624228 frs-core:SharePremium 2023-02-28 10624228 frs-core:ShareCapital 2023-02-28 10624228 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 10624228
Sevengrams UK Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10624228
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 20,804 27,909
20,804 27,909
CURRENT ASSETS
Stocks 5 6,800 8,500
Debtors 6 9,686 11,092
Cash at bank and in hand 2,229 5,662
18,715 25,254
Creditors: Amounts Falling Due Within One Year 7 (709,031 ) (618,856 )
NET CURRENT ASSETS (LIABILITIES) (690,316 ) (593,602 )
TOTAL ASSETS LESS CURRENT LIABILITIES (669,512 ) (565,693 )
Creditors: Amounts Falling Due After More Than One Year 8 (11,160 ) (19,289 )
NET LIABILITIES (680,672 ) (584,982 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Share premium account 13,404 13,404
Profit and Loss Account (694,176 ) (598,486 )
SHAREHOLDERS' FUNDS (680,672) (584,982)
Page 1
Page 2
For the year ending 29 February 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.
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 Gianni Romagno
Director
29th November 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
Sevengrams UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10624228 . The registered office is Castle House, Castle Street, Guildford, Surrey, GU1 3UW.
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 discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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:
Leasehold 10% on cost
Plant & Machinery 20% on cost
Fixtures & Fittings 20% on cost and 10% on cost
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Page 3
Page 4
2.6. 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 17)
13 17
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 14,524 70,777 75,096 2,195 162,592
Disposals - (6,961 ) - - (6,961 )
As at 29 February 2024 14,524 63,816 75,096 2,195 155,631
Depreciation
As at 1 March 2023 7,711 67,185 57,702 2,085 134,683
Provided during the period 1,452 1,870 3,719 63 7,104
Disposals - (6,960 ) - - (6,960 )
As at 29 February 2024 9,163 62,095 61,421 2,148 134,827
Net Book Value
As at 29 February 2024 5,361 1,721 13,675 47 20,804
As at 1 March 2023 6,813 3,592 17,394 110 27,909
5. Stocks
2024 2023
£ £
Stock 6,800 8,500
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,080 3,556
Other debtors 7,606 7,536
9,686 11,092
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 60,630 7,551
Bank loans and overdrafts 8,129 7,929
Amounts owed to group undertakings 340,203 322,711
Other creditors 289,264 264,444
Taxation and social security 10,805 16,221
709,031 618,856
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,160 19,289
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
As at the year end, included in Other Creditors is £340,203 (2023: £322,711) owing to SevenGrams S.R.L, a group undertaking.
11. Parent Undertaking and Controlling Party
The company's immediate and parent undertaking is SevenGrams S.R.L . SevenGrams S.R.L was incorporated in Italy. Copies of the group accounts may be obtained from the secretary, 10/12 Via Degli Olivetani, Milano 20123, Italy . The controlling party is SevenGrams S.R.L who controls 55% of the shares of Sevengrams UK Limited .
12. Going Concern
As at the balance sheet date the company had net liabilities. These financial statements have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to support the company for the forseeable future.
Page 5