REGISTERED NUMBER: 10907452 (England and Wales)

Financial Statements

for the Period 1 September 2023 to 31 December 2024

for

Sevenfire Research Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B Birman

D Davies

K Meehan

M J Peterson

REGISTERED OFFICE:

3 Waterhouse Square

138-142 Holborn

London

EC1N 2SW

REGISTERED NUMBER:

10907452 (England and Wales)

ACCOUNTANTS:

Atraxa Consulting Limited

Brooke's Mill

Armitage Bridge

Huddersfield

West Yorkshire

HD4 7NR

FIXED ASSETS

Tangible assets

4

8,486

338

CURRENT ASSETS

Debtors

5

111,504

19,127

Cash at bank

69,111

47,779

180,615

66,906

CREDITORS

Amounts falling due within one year

6

285,059

47,215

NET CURRENT (LIABILITIES)/ASSETS

(104,444

)

19,691

TOTAL ASSETS LESS CURRENT LIABILITIES

(95,958

)

20,029

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(95,959

)

20,028

SHAREHOLDERS' FUNDS

(95,958

)

20,029

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

K Meehan - Director

1.	STATUTORY INFORMATION

Sevenfire Research 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

In prior years, the financial statements were prepared under FRS 105 The Financial Reporting Standard applicable to the Micro-entities regime. There is no effect on either net assets or the result for the comparative period ended 31 August 2023 as a result of the transition to FRS 102.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

In preparing these financial statements, the directors have made the following judgements:

- The determination as to when the significant risks and rewards have transferred to the customer and a sale is recognised. This has been determined from a review of the terms of each contract and an assessment of the company's performance obligations.

Turnover

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

Turnover comprises income from the provision of contract services, net of VAT. Services supplied to customers under contracts are recognised over the period of the contract based upon the level of completion of the work. Contract progress is reviewed on a monthly basis to determine the level of work completed.

The difference between the amount of income recognised and the amount invoiced on a particular contract is included in the balance sheet as either accrued or deferred income. Amounts included in accrued or deferred income due within one year are expected to be recognised within one year. Accrued income is included with current assets and deferred income is included within current liabilities.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, 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 is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Contributions to defined contribution schemes are recognised in the income statement in the period in which they become payable.

Financial assets and liabilities

Financial assets and financial liabilities are recognised in the balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets are de-recognised when the contractual rights to the cash flows from the financial asset expire or when the contractual rights to those assets are transferred. Financial liabilities are de-recognised when the obligation specified in the contract is discharged, cancelled or expired.

(i) Trade debtors

Trade debtors are recognised initially at transaction price and subsequently measured at amortised cost less provision for impairment. Appropriate provisions for estimated irrecoverable amounts are recognised in the income statement when there is objective evidence that the assets are impaired.

(ii) Cash at bank and in hand

Cash at bank and in hand comprises cash on hand, demand deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value.

(iii) Equity instruments

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

(iv) Trade creditors

Trade creditors are initially measured at their transaction price and are subsequently measured at their amortised cost using the effective interest rate method; this method allocates interest expense over the relevant period by applying the "effective interest rate" to the carrying amount of the liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2023

660

Additions

10,318

At 31 December 2024

10,978

DEPRECIATION

At 1 September 2023

322

Charge for period

2,170

At 31 December 2024

2,492

NET BOOK VALUE

At 31 December 2024

8,486

At 31 August 2023

338

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

100,478

19,127

Amounts owed by group undertakings

4,999

-

Other debtors

6,027

-

111,504

19,127

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

6,058

22,209

Other creditors

279,001

25,006

285,059

47,215

Included within other creditors is deferred income of £174,739 (31 August 2023: £nil) which is expected to be recognised within the profit and loss account in future financial years.

7.	FINANCIAL INSTRUMENTS

At

At

31 December

31 August

2024

2023

Financial assets

£

£

Trade and other debtors

109,377

47,779

Cash at bank

69,111

19,127

178,488

66,906

Financial liabilities

Trade and other creditors

6,058

22,209

Accruals

104,262

25,006

110,320

47,215

All financial assets are categorised as other financial assets and are recognised at amortised cost.

All financial liabilities are categorised as other financial liabilities and are recognised at amortised cost.

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is New Project Media Inc.

New Project Media Inc is incorporated in the United States of America. Its registered office is 300 Witherspoon Street, Suite 201, Princeton, New Jersey, 08542, USA.