Company No:
Contents
| DIRECTORS | L F Ephson |
| P A Ephson |
| REGISTERED OFFICE | 22 Chancery Lane |
| London | |
| WC2A 1LS | |
| United Kingdom |
| COMPANY NUMBER | 14159621 (England and Wales) |
| Note | 30.09.2024 | 30.06.2023 | ||
| £ | £ | |||
| Current assets | ||||
| Stocks |
|
|
||
| Debtors | 3 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 3,136,242 | 100 | |||
| Creditors: amounts falling due within one year | 4 | (
|
|
|
| Net current (liabilities)/assets | (136,844) | 100 | ||
| Total assets less current liabilities | (136,844) | 100 | ||
| Net (liabilities)/assets | (
|
|
||
| Capital and reserves | ||||
| Called-up share capital |
|
|
||
| Profit and loss account | (
|
|
||
| Total shareholders' (deficit)/funds | (
|
|
Directors' responsibilities:
The financial statements of 7LR Limited (registered number:
|
P A Ephson
Director |
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.
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 £.
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.
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.
| 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 |
|
|
| 30.09.2024 | 30.06.2023 | ||
| £ | £ | ||
| VAT recoverable |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 30.09.2024 | 30.06.2023 | ||
| £ | £ | ||
| Bank loans |
|
|
|
| Trade creditors |
|
|
|
| Amounts owed to group undertakings (note 5) |
|
|
|
| Other creditors |
|
|
|
|
|
|
Exemption is taken under FRS 102 paragraph 1AC.35 not to disclose transactions with other undertakings wholly owned within the group.