2023-07-012024-06-302024-06-30false114030277 HOPES 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7 HOPES LTD

Registered Number
11403027
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

7 HOPES LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

ELSAWAF, Hazem, Dr
ELSAWAF, Wessam, Dr

Company Secretary

ELSAWAF Hazem Dr , ELSAWAF Wessam Dr

Registered Address

71-75 Shelton Street
London
WC2H 9JQ

Registered Number

11403027 (England and Wales)
7 HOPES LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets9,82312,930
9,82312,930
Current assets
Debtors4,20310,423
Cash at bank and on hand124,650168,495
128,853178,918
Creditors amounts falling due within one year3(170,383)(188,717)
Net current assets (liabilities)(41,530)(9,799)
Total assets less current liabilities(31,707)3,131
Creditors amounts falling due after one year4(9,640)(19,908)
Net assets(41,347)(16,777)
Capital and reserves
Called up share capital25,00025,000
Profit and loss account(66,347)(41,777)
Shareholders' funds(41,347)(16,777)
The financial statements were approved and authorised for issue by the Board of Directors on 27 March 2025, and are signed on its behalf by:
ELSAWAF, Hazem, Dr
Director
Registered Company No. 11403027
7 HOPES LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows: Motor Vehicles: 20% Straightline Fixtures & Fittings: 25% Straightline Computer Equipment: 33% Straightline
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year33
3.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables18,37116,022
Bank borrowings and overdrafts150,230171,019
Taxation and social security106-
Accrued liabilities and deferred income1,6761,676
Total170,383188,717
4.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts9,64019,908
Total9,64019,908