Company Registration No. 11032898 (England and Wales)
7F TRADING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
7F TRADING LIMITED
COMPANY INFORMATION
Directors
N Needham
A Bagshaw
J Garner
Company number
11032898
Registered office
23 Princewood Road
Corby
Northants
NN17 4AP
Auditor
TC Group
Brightfield Business Hub
Bakewell Road
Orton Southgate
Peterborough
Cambridgeshire
PE2 6XU
7F TRADING LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Independent auditor's report
5 - 8
Group Profit and Loss account
9
Group statement of comprehensive income
10
Group balance sheet
11 - 12
Company balance sheet
13
Group statement of changes in equity
14
Company statement of changes in equity
15
Group statement of cash flows
16
Notes to the financial statements
17 - 37
7F TRADING LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present the strategic report for the year ended 31 December 2024.

Fair review of the business

The directors aim to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the year end. The review is consistent with the size and nature of the business.

The principle activity of the company was that of construction services within the UK.

Group turnover for the year was £44.3m (2023 - £40.4m). The group's operating profit amounted to £2.0m (2023 - £0.8m) this year with EBITDA amounting to £2.3m (2023 - £0.9m).

The statement of financial position demonstrates that the company's position continues to be robust in terms of gross assets and at the year end the current ratio increased to 1.2 (2023 - 1.1)

Growth

2024 has presented a positive set of results following another year of growth for the company in ongoing difficult trading conditions. The company will continue to grow over the next few years as we continue to expand our portfolio of works along with the addition of new clients. During the year we continued to work with a number of Blue Chip companies which helps maintain stability and adds variety to the group/company. Early predictions show 2025 turnover will grow to over £55m with our established business from existing clients and new clients.

Gross and Net Profit

While sales continue to grow, up 10% on last year, the increase in gross profit by 2.6% has been the most encouraging part of the 2024 results. This combined with holding our operating costs around 7%, has given rise to the large increase in net profit. Our cost base continues to be under review and our aim in future years is to continue to grow our gross margin %. This is an area where we feel we can make the biggest improvement while balancing the need to reinvest in our people which we recognise as our biggest asset. The board feel that with the current high level of growth the level of net profit is acceptable, but certainly an area we are looking to grow further in the future and early signs for 2025 are showing an improvement in net profit %.

Cash Position

Despite ongoing difficult market conditions we continue to maintain a positive cash position from the beginning of 2024 which has been helped by reducing our debtor days and increase our net profit.

ESG Commitments

As the company grows to a significant size, we recognise the importance we need to make to ensure everyone benefits from a sustainable planet and economy. The company has recently invested in electric charging points at our head office following the addition of a number of electric company cars and full LED replacement of the entire office facility. We plan to increase our commitments further and combined with the introduction of an ESG committee we believe we are on the right track. Our ESG consists of a collection of employees from all departments to ensure we promote this ethos throughout the business. In future financial statements we plan to report on our carbon reduction numbers, as we are actively monitoring this for the first time in the company’s history and we are looking forward to sharing these results.

7F TRADING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Principal risks and uncertainties

The company operates in a changing and competitive marketplace where continuing competitiveness is dependent on maintaining existing customer relationships, bringing onboard new customers and developing our supply chain. The directors are confident that the company can achieve these objectives and minimize the risk of falling short of its targets by providing a high quality of service to its customers at competitive prices, whilst improving efficiency. The company seeks to manage its credit risk by dealing with established customers or otherwise checking the creditworthiness of new customers, establishing clear contractual relationships with those customers and by identifying and addressing any credit issues arising in a timely manners.

The company also faces other key risks and uncertainties, these are covered below.

Health and safety

Health and safety remains an area of risk for the company and this is mitigated by regular site visits from independent assessors to produce rigorous reporting in line with industry and internal requirements. The KPIs from these reports ensure we are reviewing and maintaining our high standards towards health ands safety on a regular basis and at this point we have not reported any serious accidents through RIDDOR.

Workforce retention

Like many other business, retaining our workforce is another area of risk and we have a number of policies and procedures to ensure qualified employees are hired and maintained. Employees are encouraged to contribute to the business as the directors recognize that the future success of the business depends on the retention, development and dedication of key employees.

Liquidity risk

The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitability.

Key performance indicators

Turnover and profitability are the main key performance indicators. These KPIs continue to be monitored on a regular basis and are detailed in the paragraphs above.

A statement of cash flows is presented within these financial statements and remains one of the other main KPIs. The balance sheet indicates that the company's cash position has dramatically improved over the year to the end of 2024 in line with the directors' expectations.

Net assets have moved in line with the directors' expectations increasing by £1.3m to £3.4m from £2.1m in 2023.

On behalf of the board

N Needham
Director
19 September 2025
7F TRADING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activities of the group in the year under review were those of construction and professional services within the UK.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £229,990. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

N Needham

A Bagshaw

J Garner

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
Neil Needham
Directror
19 September 2025
7F TRADING LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

7F TRADING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF 7F TRADING LIMITED
- 5 -
Opinion

We have audited the financial statements of 7F Trading Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2024 and of the group's profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

7F TRADING LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF 7F TRADING LIMITED
- 6 -

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report and the directors' r eport.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

7F TRADING LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF 7F TRADING LIMITED
- 7 -
Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;

- We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;

- We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration;

- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;

- We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.

7F TRADING LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF 7F TRADING LIMITED
- 8 -

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

John Grant (Senior Statutory Auditor)
For and on behalf of TC Group
Office: Peterborough
19 September 2025
7F TRADING LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
2024
2023
Notes
£
£
Turnover
3
44,291,018
40,377,980
Cost of sales
(39,061,653)
(36,702,800)
Gross profit
5,229,365
3,675,180
Administrative expenses
(3,337,195)
(3,018,331)
Other operating income
113,010
118,757
Operating profit
4
2,005,180
775,606
Interest receivable and similar income
13,988
44,677
Interest payable and similar expenses
7
(41,854)
(32,463)
Profit before taxation
1,977,314
787,820
Tax on profit
8
(446,470)
(118,061)
Profit for the financial year
24
1,530,844
669,759
Profit for the financial year is attributable to:
- Owners of the parent company
1,509,460
659,997
- Non-controlling interests
21,384
9,762
1,530,844
669,759
7F TRADING LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
2024
2023
£
£
Profit for the year
1,530,844
669,759
Other comprehensive income
-
-
Total comprehensive income for the year
1,530,844
669,759
Total comprehensive income for the year is attributable to:
- Owners of the parent company
1,509,460
659,997
- Non-controlling interests
21,384
9,762
1,530,844
669,759
7F TRADING LIMITED
GROUP BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 11 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
1,398,220
1,103,865
Current assets
Stocks
14
38,758
-
Debtors
15
10,134,248
12,091,448
Cash at bank and in hand
3,166,548
331,909
13,339,554
12,423,357
Creditors: amounts falling due within one year
16
(11,164,906)
(10,898,894)
Net current assets
2,174,648
1,524,463
Total assets less current liabilities
3,572,868
2,628,328
Creditors: amounts falling due after more than one year
17
(152,717)
(466,082)
Provisions for liabilities
Deferred tax liability
21
50,621
60,624
(50,621)
(60,624)
Net assets
3,369,530
2,101,622
Capital and reserves
Called up share capital
23
1,246
1,246
Share premium account
24
24,254
24,254
Capital redemption reserve
24
600
600
Other reserves
24
967,887
967,887
Profit and loss reserves
24
2,390,127
1,118,680
Equity attributable to owners of the parent company
3,384,114
2,112,667
Non-controlling interests
(14,584)
(11,045)
3,369,530
2,101,622
7F TRADING LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 12 -
The financial statements were approved by the board of directors and authorised for issue on 19 September 2025 and are signed on its behalf by:
19 September 2025
N Needham
Director
7F TRADING LIMITED
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 13 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
12
164,472
164,472
Current assets
Debtors
15
86,563
437,343
Cash at bank and in hand
197,058
86,103
283,621
523,446
Creditors: amounts falling due within one year
16
(341,125)
(348,403)
Net current (liabilities)/assets
(57,504)
175,043
Total assets less current liabilities
106,968
339,515
Creditors: amounts falling due after more than one year
17
-
(213,933)
Net assets
106,968
125,582
Capital and reserves
Called up share capital
23
1,246
1,246
Share premium account
24
24,254
24,254
Capital redemption reserve
24
600
600
Profit and loss reserves
24
80,868
99,482
Total equity
106,968
125,582

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £211,376 (2023 - £128,184 profit).

The financial statements were approved by the board of directors and authorised for issue on 19 September 2025 and are signed on its behalf by:
19 September 2025
N Needham
Director
Company Registration No. 11032898
7F TRADING LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
Share capital
Share premium account
Capital redemption reserve
Merger reserve
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
Notes
£
£
£
£
£
£
£
£
Balance at 1 January 2023
1,246
24,254
600
967,887
673,142
1,667,129
(2,535)
1,664,594
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
-
-
659,997
659,997
9,762
669,759
Dividends
9
-
-
-
-
(214,000)
(214,000)
-
(214,000)
Disposal of shares in subsidiary to non-controlling interest
-
-
-
-
(459)
(459)
459
-
Other movements
-
-
-
-
-
-
(18,731)
(18,731)
Balance at 31 December 2023
1,246
24,254
600
967,887
1,118,680
2,112,667
(11,045)
2,101,622
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
-
-
-
1,509,460
1,509,460
21,384
1,530,844
Dividends
9
-
-
-
-
(229,990)
(229,990)
(33,237)
(263,227)
Change in NCI due to issuance of share capital
-
-
-
(8,023)
(8,023)
8,023
-
Other movements
-
-
-
-
-
-
291
291
Balance at 31 December 2024
1,246
24,254
600
967,887
2,390,127
3,384,114
(14,584)
3,369,530
7F TRADING LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 January 2023
1,246
24,254
600
185,298
211,398
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
-
128,184
128,184
Dividends
9
-
-
-
(214,000)
(214,000)
Balance at 31 December 2023
1,246
24,254
600
99,482
125,582
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
-
-
211,376
211,376
Dividends
9
-
-
-
(229,990)
(229,990)
Balance at 31 December 2024
1,246
24,254
600
80,868
106,968
7F TRADING LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
27
4,198,131
402,285
Interest paid
(41,854)
(32,463)
Income taxes paid
(147,617)
(180,069)
Net cash inflow from operating activities
4,008,660
189,753
Investing activities
Purchase of tangible fixed assets
(438,062)
(793,332)
Proceeds on disposal of tangible fixed assets
21,000
-
Interest received
13,988
44,677
Net cash used in investing activities
(403,074)
(748,655)
Financing activities
Repayment of other borrowings
(329,563)
(337,729)
Repayment of bank loans
(60,000)
(147,500)
Payment of finance leases obligations
(118,448)
(78,046)
Dividends paid to equity shareholders
(229,990)
(214,000)
Dividends paid to non-controlling interests
(32,946)
(18,731)
Net cash used in financing activities
(770,947)
(796,006)
Net increase/(decrease) in cash and cash equivalents
2,834,639
(1,354,908)
Cash and cash equivalents at beginning of year
331,909
1,686,817
Cash and cash equivalents at end of year
3,166,548
331,909
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
1
Accounting policies
Company information

7F Trading Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is 23 Princewood Road, Corby, Northants, NN17 4AP.

The group consists of 7F Trading Limited and all of its subsidiaries.

The acquisition of 7 Formation Limited was accounted for as a group reconstruction and the merger accounting method was applied. All other acquisitions were recognised under the equity method.

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.

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.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

Related party exemption

The group 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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 18 -
1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company 7F Trading Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 19 -

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 3 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 20 -
1.7
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Development costs
3 years straight line
1.8
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:

Improvements to property
straight line over the term of the lease
Computer equipment
25%-33% reducing balance or 25% straight line
Motor vehicles
33% reducing balance orr 33% straight line

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 recognised in the profit and loss account.

1.9
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 21 -

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the g roup’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent c ompany financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.10
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 22 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.11
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.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.12
Cash and cash equivalents

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.

1.13
Financial instruments

The group 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 instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors 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 m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 23 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 24 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.14
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.15
Taxation

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

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 group’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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 25 -
1.16
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.

1.17
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.18
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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 d asset are consumed.

1.19

Amounts Recoverable on contract

Revenue is recognised on contracts when there is a right to consideration. Revenue recognised in this manner is based on an assessment of the fair value of the goods and services provided at the financial reporting date as a proportion of the total value of contract. Provision is made against unbilled amounts on those contracts where the right to receive payment is contingent on factors outside the control of the companies within the group. Unbilled revenue is included in debtors.

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 26 -
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are 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.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below :

1) Revenue and amounts recoverable on contract- see separate policy.

2) Cost of sales- the company recognises costs in the income statement based on the expected margin after considering the total cost for each project.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Sales
44,291,018
40,377,980
2024
2023
£
£
Other significant revenue
Interest income
13,988
44,677
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 27 -
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange differences apart from those arising on financial instruments measured at fair value through profit or loss
(419)
1,750
Depreciation of owned tangible fixed assets
148,000
120,394
Depreciation of tangible fixed assets held under finance leases
61,829
51,654
Loss on disposal of tangible fixed assets
10,000
-
Amortisation of intangible assets
-
13,610
Auditors' remuneration
24,000
13,611
Hire of plant and machinery
856,875
575,405
Operating lease charges
58,345
54,707
5
Employees

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

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Directors
3
3
-
-
Management, administration and site
54
50
-
-
Total
57
53
0
0

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
3,043,381
3,102,867
-
0
-
0
Social security costs
348,165
343,576
-
-
Pension costs
135,060
108,292
50,000
31,510
3,526,606
3,554,735
50,000
31,510
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 28 -
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
256,454
278,608
Company pension contributions to defined contribution schemes
72,281
32,941
328,735
311,549
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
125,677
123,031
Company pension contributions to defined contribution schemes
1,321
1,321

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (202 3 - 2).

7
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
14,399
19,084
Other interest on financial liabilities
7,000
7,583
Interest on finance leases and hire purchase contracts
13,155
5,796
Other interest
7,300
-
Total finance costs
41,854
32,463
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
456,473
205,079
Adjustments in respect of prior periods
-
0
(84,748)
Total current tax
456,473
120,331
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
8
Taxation
2024
2023
£
£
(Continued)
- 29 -
Deferred tax
Origination and reversal of timing differences
(10,003)
(2,270)
Total tax charge
446,470
118,061

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
1,977,314
787,820
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.50%)
494,329
185,138
Tax effect of expenses that are not deductible in determining taxable profit
56,658
44,538
Effect of change in corporation tax rate
-
(2,138)
Other permanent differences
(516)
-
0
Under/(over) provided in prior years
-
0
(84,748)
Capital allowances in excess of depreciation
(34,126)
(24,729)
Research and development enhanced deduction
(69,875)
-
0
Taxation charge
446,470
118,061
9
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Interim paid
229,990
214,000
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 30 -
10
Intangible fixed assets
Group
Goodwill
Development costs
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
49,343
3,000
52,343
Amortisation and impairment
At 1 January 2024 and 31 December 2024
49,343
3,000
52,343
Carrying amount
At 31 December 2024
-
0
-
0
-
0
At 31 December 2023
-
0
-
0
-
0
The company had no intangible fixed assets at 31 December 2024 or 31 December 2023.
11
Tangible fixed assets
Group
Improvements to property
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
740,493
271,861
429,812
1,442,166
Additions
415,000
23,613
96,571
535,184
Disposals
-
0
-
0
(60,000)
(60,000)
At 31 December 2024
1,155,493
295,474
466,383
1,917,350
Depreciation and impairment
At 1 January 2024
55,537
112,087
170,677
338,301
Depreciation charged in the year
80,966
57,530
71,333
209,829
Eliminated in respect of disposals
-
0
-
0
(29,000)
(29,000)
At 31 December 2024
136,503
169,617
213,010
519,130
Carrying amount
At 31 December 2024
1,018,990
125,857
253,373
1,398,220
At 31 December 2023
684,956
159,774
259,135
1,103,865
The company had no tangible fixed assets at 31 December 2024 or 31 December 2023.
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11
Tangible fixed assets
(Continued)
- 31 -

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2024
2023
2024
2023
£
£
£
£
Motor vehicles
230,738
212,696
-
0
-
0
12
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
164,472
164,472
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024 and 31 December 2024
164,472
Carrying amount
At 31 December 2024
164,472
At 31 December 2023
164,472
13
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
7 Formation Limited
23 Princewood Road, Corby, Northants, NN17 4AP
Ordinary
100.00
Torney Limited
23 Princewood Road, Corby, Northants, NN17 4AP
Ordinary
76.00
Seven Bespoke Joinery Ltd
23 Princewood Road, Corby, Northants, NN17 4AP
Ordinary
100.00
7F Plant Hire Ltd
23 Princewood Road, Corby, Northants, NN17 4AP
Ordinary
100.00

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13
Subsidiaries
(Continued)
- 32 -

Seven Bespoke Joinery Ltd was incorporated on 23 June 2024 and remained dormant up to the year end 31 December 2024. The company was exempt from having an audit due to its dormant status.

7F Plant Hire Ltd was incorporated on 23 June 2024 and remained dormant up to the year end 31 December 2024. The company was exempt from having an audit due to its dormant status.

14
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Inventory
38,758
-
-
-
15
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
4,706,494
6,184,987
-
0
-
0
Amounts recoverable on contract
4,937,193
5,239,872
-
0
-
0
Amounts owed by group undertakings
-
-
-
382,854
Other debtors
217,435
391,744
86,563
54,489
Prepayments and accrued income
273,126
274,845
-
0
-
0
10,134,248
12,091,448
86,563
437,343
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 33 -
16
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
18
60,000
60,000
-
0
-
0
Obligations under finance leases
19
107,153
89,047
-
0
-
0
Other borrowings
18
213,932
329,562
213,932
329,562
Trade creditors
5,205,621
3,601,877
-
0
-
0
Amounts owed to group undertakings
-
0
-
0
119,257
8,077
Corporation tax payable
463,615
154,759
-
0
-
0
Other taxation and social security
2,029,392
1,488,261
-
-
Deferred income
22
50,000
-
0
-
0
-
0
Other creditors
3,383
496
-
0
-
0
Accruals and deferred income
3,031,810
5,174,892
7,936
10,764
11,164,906
10,898,894
341,125
348,403
17
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
18
80,000
140,000
-
0
-
0
Obligations under finance leases
19
72,717
112,149
-
0
-
0
Other borrowings
18
-
0
213,933
-
0
213,933
152,717
466,082
-
213,933
18
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
140,000
200,000
-
0
-
0
Other loans
213,932
543,495
213,932
543,495
353,932
743,495
213,932
543,495
Payable within one year
273,932
389,562
213,932
329,562
Payable after one year
80,000
353,933
-
0
213,933
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
18
Loans and overdrafts
(Continued)
- 34 -

The group has a loan facili ty in operation which is repayable in instalments and carry interest rates of 3.09% over the Bank of England base rate.

19
Finance lease obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
107,153
89,614
-
0
-
0
In two to five years
72,717
111,582
-
0
-
0
179,870
201,196
-
-
20
Secured debts

The following secured debts are included in creditors:

Bank loans - £14 0,0 00 (2023 - £200,0 00)

Hire purchase contracts - £179,869 (2023 - £201,196)

Total - £319,869 (2023 - £401,196)

Bank loans are secured by way of an unlimited debenture over the assets of a company within the group.

Hire purchase contracts are secured on the assets to which the contract relate.

21
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
50,621
60,624
The company has no deferred tax assets or liabilities.
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
21
Deferred taxation
(Continued)
- 35 -
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 January 2024
60,624
-
Credit to profit or loss
(10,003)
-
Liability at 31 December 2024
50,621
-

The rate of deferred taxation provisions on accelerated capital allowances is 25% (2023 - 25%) in line with government legislation on future corporation tax rates.

The reversal of deferred taxation timing differences is not expected to be significant in the forthcoming year.

22
Deferred income
Group
Company
2024
2023
2024
2023
£
£
£
£
Other deferred income
50,000
-
-
-
23
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Oridinary of £1 each
800
800
800
800
A Ordinary of £1 each
200
200
200
200
C Ordinary of £1 each
200
200
200
200
D Ordinary of £1 each
46
46
46
46
1,246
1,246
1,246
1,246

Ordinary shares have full voting rights and rank pari passu with one another.

24
Reserves

Retained earnings

Retained earnings represents cumulative profits and losses net of dividends and other adjustments.

Share premium account

The share premium account represents the premium arising in the issue of shares net of issue cost.

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
24
Reserves
(Continued)
- 36 -
25
Operating lease commitments
Lessee

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

Group
Company
2024
2023
2024
2023
£
£
£
£
Within one year
193,533
183,933
-
-
Between two and five years
288,413
523,628
-
-
481,946
707,561
-
-
26
Related party transactions
Remuneration of key management personnel

Key management personnel compensation is considered to be as reported under directors' remuneration disclosed in note 6.

Other information

During the year the group made purchases of £1,922,495 (2023 - £1,542,457) from companies in which one or more director(s) has a significant participating interest. Amounts owed to these companies at the year end totalled £231,260 (2023 - £nil) respectively.

During the year the group made loans of £31,574 (2023- £226,754) to companies in which one or more directors has a significant participating interest. During the year repayments of £nil (2023 - £600,000) were received. Interest is charged at 6% above the base rate at £nil (2023 - £30,712) Amounts owing from these companies at the year end totalled £171,900 (2023 - £337,563)

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 37 -
27
Cash generated from group operations
2024
2023
£
£
Profit for the year after tax
1,530,844
669,759
Adjustments for:
Taxation charged
446,470
118,061
Interest payable and similar charges
41,854
32,463
Interest received
(13,988)
(44,677)
Loss on disposal of tangible fixed assets
10,000
-
Amortisation and impairment of intangible assets
-
13,610
Depreciation and impairment of tangible fixed assets
209,829
172,048
Movements in working capital:
Increase in stocks
(38,758)
-
Decrease/(increase) in debtors
1,957,200
(3,894,469)
Increase in creditors
54,680
3,335,490
Cash generated from operations
4,198,131
402,285
28
Analysis of changes in net funds/(debt) - group
1 January 2024
Cash flows
Other non-cash changes
31 December 2024
£
£
£
£
Cash at bank and in hand
331,909
2,834,639
-
3,166,548
Borrowings excluding overdrafts
(743,495)
389,563
-
(353,932)
Obligations under finance leases
(201,196)
55,001
(33,675)
(179,870)
(612,782)
3,279,203
(33,675)
2,632,746
29
Ultimate Controlling Party

There is not considered to be a ultimate controlling party.

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