Company Registration No. 07019199 (England and Wales)
P7 Accounting Limited
Unaudited accounts
for the year ended 31 December 2024
P7 Accounting Limited
Unaudited accounts
Contents
P7 Accounting Limited
Company Information
for the year ended 31 December 2024
Directors
Mark William Pyne
Claire Louise Pyne
Secretary
Claire Louise Pyne
Company Number
07019199 (England and Wales)
Registered Office
25 Cutbush Lane
Bitterne
Southampton
SO18 5QP
United Kingdom
P7 Accounting Limited
Statement of financial position
as at 31 December 2024
Tangible assets
13,276
17,665
Cash at bank and in hand
208
-
Creditors: amounts falling due within one year
(34,738)
(19,347)
Net current liabilities
(14,325)
(3,242)
Total assets less current liabilities
(1,049)
14,423
Creditors: amounts falling due after more than one year
(833)
(20,579)
Net liabilities
(1,882)
(6,156)
Called up share capital
400
400
Profit and loss account
(2,282)
(6,556)
Shareholders' funds
(1,882)
(6,156)
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by
Mark William Pyne
Director
Company Registration No. 07019199
P7 Accounting Limited
Notes to the Accounts
for the year ended 31 December 2024
P7 Accounting Limited is a private company, limited by shares, registered in England and Wales, registration number 07019199. The registered office is 25 Cutbush Lane, Bitterne, Southampton, SO18 5QP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing balance
Computer equipment
33.3% Straight line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
P7 Accounting Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2024
32,770
1,739
34,509
At 31 December 2024
32,770
1,410
34,180
At 1 January 2024
15,105
1,739
16,844
Charge for the year
4,389
-
4,389
At 31 December 2024
19,494
1,410
20,904
At 31 December 2024
13,276
-
13,276
At 31 December 2023
17,665
-
17,665
Amounts falling due within one year
Accrued income and prepayments
1,084
1,114
Other debtors
17,669
11,971
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,628
12,416
Obligations under finance leases and hire purchase contracts
17,746
3,180
Taxes and social security
5,684
2,985
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
17,746
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).