Company registration number 08613668 (England and Wales)
SEVENS & CLASSICS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SEVENS & CLASSICS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SEVENS & CLASSICS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
7,322
7,632
Current assets
Stocks
205,918
225,845
Debtors
5
27,306
42,726
Cash at bank and in hand
32,102
13,069
265,326
281,640
Creditors: amounts falling due within one year
6
(216,292)
(192,886)
Net current assets
49,034
88,754
Total assets less current liabilities
56,356
96,386
Creditors: amounts falling due after more than one year
7
(4,813)
(14,951)
Net assets
51,543
81,435
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
8
51,443
81,335
Total equity
51,543
81,435
SEVENS & CLASSICS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime within Part 15 of the Companies Act 2006.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 September 2025 and are signed on its behalf by:
Mr Andrew Noble
Director
Company registration number 08613668 (England and Wales)
SEVENS & CLASSICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Sevens & Classics Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4, Brands Hatch Park, Scratchers Lane, Fawkham, Longfield, Kent, UK, DA3 8PU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for the sale of motor cars and related services, net of VAT. Revenue is recognised when the rights of ownership have transferred to the purchaser or on completion of services provided.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% on the Straight Line Basis
Fixtures, fittings & equipment
33% on the Straight Line Basis
Computer equipment
33% on the Straight Line Basis
Motor vehicles
33% on the Straight Line Basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

SEVENS & CLASSICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
7
SEVENS & CLASSICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
13,762
18,736
6,810
14,000
53,308
Additions
-
0
3,368
519
2,000
5,887
Disposals
-
0
-
0
(1,089)
-
0
(1,089)
At 31 December 2024
13,762
22,104
6,240
16,000
58,106
Depreciation and impairment
At 1 January 2024
12,424
18,178
4,852
10,222
45,676
Depreciation charged in the year
385
1,170
1,475
3,167
6,197
Eliminated in respect of disposals
-
0
-
0
(1,089)
-
0
(1,089)
At 31 December 2024
12,809
19,348
5,238
13,389
50,784
Carrying amount
At 31 December 2024
953
2,756
1,002
2,611
7,322
At 31 December 2023
1,338
558
1,958
3,778
7,632
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
772
15,580
Corporation tax recoverable
-
0
419
Other debtors
26,534
26,727
27,306
42,726
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
12,235
17,905
Taxation and social security
6,993
11,072
Other creditors
187,064
153,909
216,292
192,886
SEVENS & CLASSICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
4,813
14,951
8
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
81,335
121,244
Adjusted balance
81,335
121,244
Loss for the year
(29,892)
(39,909)
At the end of the year
51,443
81,335
9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitments
50,646
97,396
10
Directors' transactions

Other Creditors include loans from A Noble £104,525 (2 023: £36,525) and T Ward £26,725 (2 023: £38,725). The loans are non-interest bearing and repayable on demand.

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