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REGISTERED NUMBER: 10434954 (England and Wales)












NO 7 RETAIL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






NO 7 RETAIL LIMITED (REGISTERED NUMBER: 10434954)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NO 7 RETAIL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: C G Chance
A A Chance





REGISTERED OFFICE: 33 Oakleigh Crescent
Rushington
Southampton
Hampshire
SO40 9AR





REGISTERED NUMBER: 10434954 (England and Wales)

NO 7 RETAIL LIMITED (REGISTERED NUMBER: 10434954)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,611 5,535
3,611 5,535

CURRENT ASSETS
Debtors 6 17,218 39,748
Cash at bank 10,319 -
27,537 39,748
CREDITORS
Amounts falling due within one year 7 (24,470 ) (22,129 )
NET CURRENT ASSETS 3,067 17,619
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,678

23,154

CREDITORS
Amounts falling due after more than one
year

8

(4,089

)

(11,275

)

PROVISIONS FOR LIABILITIES 10 (686 ) (333 )
NET ASSETS 1,903 11,546

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,803 11,446
1,903 11,546

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

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

The directors acknowledge their 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.

NO 7 RETAIL LIMITED (REGISTERED NUMBER: 10434954)

BALANCE SHEET - continued
31 OCTOBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by:





A A Chance - Director


NO 7 RETAIL LIMITED (REGISTERED NUMBER: 10434954)

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


1. STATUTORY INFORMATION

No 7 Retail Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Franchise fees were amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% Reducing balance
Computer equipment - Straight line over 3 years

NO 7 RETAIL LIMITED (REGISTERED NUMBER: 10434954)

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


2. ACCOUNTING POLICIES - continued

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables 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, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

NO 7 RETAIL LIMITED (REGISTERED NUMBER: 10434954)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
fee
£
COST
At 1 November 2023
and 31 October 2024 15,000
AMORTISATION
At 1 November 2023
and 31 October 2024 15,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 November 2023
and 31 October 2024 16,963 4,155 21,118
DEPRECIATION
At 1 November 2023 12,150 3,433 15,583
Charge for year 1,202 722 1,924
At 31 October 2024 13,352 4,155 17,507
NET BOOK VALUE
At 31 October 2024 3,611 - 3,611
At 31 October 2023 4,813 722 5,535

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 17,218 39,748

NO 7 RETAIL LIMITED (REGISTERED NUMBER: 10434954)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 7,269 11,705
Trade creditors 518 519
Taxation and social security 12,824 6,214
Other creditors 3,859 3,691
24,470 22,129

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 4,089 11,275

9. LEASING AGREEMENTS
At the balance sheet date the company had future commitments under operating leases which totalled £140,712 (2023 - £187,308).

10. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 686 333

Deferred tax
£
Balance at 1 November 2023 333
Provided during year 353
Balance at 31 October 2024 686