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Company No: 14159621 (England and Wales)

7LR LIMITED

Unaudited Financial Statements
For the financial period from 01 July 2023 to 30 September 2024
Pages for filing with the registrar

7LR LIMITED

Unaudited Financial Statements

For the financial period from 01 July 2023 to 30 September 2024

Contents

7LR LIMITED

COMPANY INFORMATION

For the financial period from 01 July 2023 to 30 September 2024
7LR LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 July 2023 to 30 September 2024
DIRECTORS L F Ephson
P A Ephson
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
United Kingdom
COMPANY NUMBER 14159621 (England and Wales)
7LR LIMITED

BALANCE SHEET

As at 30 September 2024
7LR LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 30.09.2024 30.06.2023
£ £
Current assets
Stocks 3,065,610 0
Debtors 3 18,073 100
Cash at bank and in hand 52,559 0
3,136,242 100
Creditors: amounts falling due within one year 4 ( 3,273,086) 0
Net current (liabilities)/assets (136,844) 100
Total assets less current liabilities (136,844) 100
Net (liabilities)/assets ( 136,844) 100
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 136,944 ) 0
Total shareholders' (deficit)/funds ( 136,844) 100

For the financial period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of 7LR Limited (registered number: 14159621) were approved and authorised for issue by the Board of Directors on 04 June 2025. They were signed on its behalf by:

P A Ephson
Director
7LR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 July 2023 to 30 September 2024
7LR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 July 2023 to 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

7LR Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. The company is supported by its ultimate parent, Rathplace Developments Limited, which has confirmed it has the resources and will continue to support the company for at least 12 months from the date the accounts are approved. Based on cash levels and forecasts, the directors are confident they will be able to continue supporting the company through this period. On that basis, the directors consider the company to be a going concern.

Turnover

Turnover represents rental income. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and the entity becomes entitled to the income under the tenancy agreements under the accruals basis. Turnover is shown net of value added tax.

Stocks

Stocks represents freehold property under development which will be sold once completed. It is shown at the lower of cost and net realisable value. Cost includes the purchase price and associated development costs.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
Interest-bearing borrowings are initially recognised at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

The bank loan is secured by a legal charge over the property acquired.

2. Employees

Period from
01.07.2023 to
30.09.2024
Year ended
30.06.2023
Number Number
Monthly average number of persons employed by the company during the period 0 0

3. Debtors

30.09.2024 30.06.2023
£ £
VAT recoverable 17,973 0
Other debtors 100 100
18,073 100

4. Creditors: amounts falling due within one year

30.09.2024 30.06.2023
£ £
Bank loans 964,872 0
Trade creditors 1,117 0
Amounts owed to group undertakings (note 5) 2,103,097 0
Other creditors 204,000 0
3,273,086 0

5. Related party transactions

Exemption is taken under FRS 102 paragraph 1AC.35 not to disclose transactions with other undertakings wholly owned within the group.

6. Ultimate controlling party

The ultimate controlling party is Rathplace Developments Limited, incorporated in England and Wales at registered address 22 Chancery Lane, London, England, WC2A 1LS.