Red Seven Technology Group Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10973790

Red Seven Technology Group Limited

Filleted Financial Statements

31 December 2024

Red Seven Technology Group Limited

Statement of Financial Position

31 December 2024

	31 Dec 24	30 Nov 23
Note	£	£

Fixed assets

Intangible assets	6	–	150
Tangible assets	7	–	1
Investments	8	5,000,000	5,623,119
		------------	------------
		5,000,000	5,623,270

Current assets

Debtors	9	2,668,546	3,774,412
Cash at bank and in hand		23,346	14,347
		------------	------------
		2,691,892	3,788,759

Creditors: amounts falling due within one year	10	7,517,447	8,978,783
		------------	------------
Net current liabilities		4,825,555	5,190,024
		------------	------------
Total assets less current liabilities		174,445	433,246
		---------	---------
Net assets		174,445	433,246
		---------	---------

Capital and reserves

Called up share capital	12	11,197	11,197
Capital redemption reserve		23	23
Profit and loss account		163,225	422,026
		---------	---------
Shareholders funds		174,445	433,246
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The directors acknowledge their 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 were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mrs J I Tuffs

Director

Company registration number: 10973790

Red Seven Technology Group Limited

Notes to the Financial Statements

Period from 1 December 2023 to 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Regus Manchester Airport, Room 120 Manchester Business Park, Aviator Way, Manchester, M22 5TG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Intellectual property	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	20% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 2 (2023: 1 ).

5. Tax on (loss)/profit

Major components of tax expense

	Period from	Period from
	1 Dec 23 to	1 Oct 22 to
	31 Dec 24	30 Nov 23
	£	£

Current tax:

UK current tax expense	144,445	47,470
Adjustments in respect of prior periods	–	100
	---------	--------
Total current tax	144,445	47,570
	---------	--------
	---------	--------
Tax on (loss)/profit	144,445	47,570
	---------	--------

Reconciliation of tax expense

The tax assessed on the (loss)/profit on ordinary activities for the period is higher than (2023: lower than) the standard rate of corporation tax in the UK of 25 % (2023: 22.44 %).

	Period from	Period from
	1 Dec 23 to	1 Oct 22 to
	31 Dec 24	30 Nov 23
	£	£
(Loss)/profit on ordinary activities before taxation	( 81,356)	5,796,061
	--------	------------
(Loss)/profit on ordinary activities by rate of tax	( 20,340)	1,235,931
Adjustment to tax charge in respect of prior periods	–	(100)
Effect of expenses not deductible for tax purposes	164,747	47,075
Effect of capital allowances and depreciation	38	189
Effect of revenue exempt from tax	–	( 1,235,525)
	---------	------------
Tax on (loss)/profit	144,445	47,570
	---------	------------

6. Intangible assets

	Other intangibles
	£
Cost
At 1 December 2023	3,000
Additions	–
Disposals	( 3,000)
	-------
At 31 December 2024	–
	-------
Amortisation
At 1 December 2023	2,850
Charge for the period	150
Disposals	( 3,000)
	-------
At 31 December 2024	–
	-------
Carrying amount
At 31 December 2024	–
	-------
At 30 November 2023	150
	-------

7. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 December 2023	1,682
Disposals	( 1,682)
	-------
At 31 December 2024	–
	-------
Depreciation
At 1 December 2023	1,681
Disposals	( 1,681)
	-------
At 31 December 2024	–
	-------
Carrying amount
At 31 December 2024	–
	-------
At 30 November 2023	1
	-------

8. Investments

	Shares in group undertakings
	£
Cost
At 1 December 2023	12,354,240
Disposals	( 11,119)
	-------------
At 31 December 2024	12,343,121
	-------------
Impairment
At 1 December 2023	6,731,121
Impairment losses	612,000
	-------------
At 31 December 2024	7,343,121
	-------------

Carrying amount
At 31 December 2024	5,000,000
	-------------
At 30 November 2023	5,623,119
	-------------

9. Debtors

	31 Dec 24	30 Nov 23
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	2,530,449	3,204,820
Other debtors	138,097	569,592
	------------	------------
	2,668,546	3,774,412
	------------	------------

10. Creditors: amounts falling due within one year

	31 Dec 24	30 Nov 23
	£	£
Bank loans and overdrafts	–	2,783,198
Trade creditors	–	( 8,797)
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7,345,766	5,785,259
Social security and other taxes	171,681	51,645
Other creditors	–	367,478
	------------	------------
	7,517,447	8,978,783
	------------	------------

11. Subsidiary undertakings

Details of the investments in which the parent company has an interest of 20% or more are as follows:

Invosys Business Limited, incorporated in England and Wales

Registered Office : Regus Manchester Airport, Room 120 Manchester Business Park, Aviator Way, Manchester, M22 5TG

Shareholding : 100% Ordinary Shares

Juniper Bridge Limited, incorporated in England and Wales

Registered Office : Regus Manchester Airport, Room 120 Manchester Business Park, Aviator Way, Manchester, M22 5TG

Shareholding : 100% Ordinary Shares

Atrium Telecom Ltd, incorporated in England and Wales

Registered Office : Regus Manchester Airport, Room 120 Manchester Business Park, Aviator Way, Manchester, M22 5TG

Shareholding : 100% Ordinary Shares

Connected World Communications Limited, incorporated in England and Wales

Registered Office : Regus Manchester Airport, Room 120 Manchester Business Park, Aviator Way, Manchester, M22 5TG

Shareholding : 100% Ordinary Shares

12. Called up share capital

Authorised share capital

	31 Dec 24		30 Nov 23
	No.	£	No.	£
Ordinary A Shares shares of £– (2023 - £0.001) each	–	–	6,233,000	6,233
Ordinary B Shares shares of £– (2023 - £0.001) each	–	–	3,060,000	3,060
Ordinary C Shares shares of £– (2023 - £0.001) each	–	–	510,000	510
Ordinary D Shares shares of £– (2023 - £0.001) each	–	–	192,000	192

Ordinary E Shares shares of £– (2023 - £0.001) each	–	–	182,000	182
Ordinary F Shares shares of £– (2023 - £0.001) each	–	–	1,020,000	1,020
Ordinary Shares shares of £0.001 each	11,196,683	11,197	–	–
	-------------	--------	-------------	--------
	11,196,683	11,197	11,197,000	11,197
	-------------	--------	-------------	--------

Issued, called up and fully paid

	31 Dec 24		30 Nov 23
	No.	£	No.	£
Ordinary A Shares shares of £– (2023 - £0.001) each	–	–	6,233,000	6,233
Ordinary B Shares shares of £– (2023 - £0.001) each	–	–	3,060,000	3,060
Ordinary C Shares shares of £– (2023 - £0.001) each	–	–	510,000	510
Ordinary D Shares shares of £– (2023 - £0.001) each	–	–	192,000	192

Ordinary E Shares shares of £– (2023 - £0.001) each	–	–	182,000	182
Ordinary F Shares shares of £– (2023 - £0.001) each	–	–	1,020,000	1,020
Ordinary Shares shares of £0.001 each	11,196,683	11,197	–	–
	-------------	--------	-------------	--------
	11,196,683	11,197	11,197,000	11,197
	-------------	--------	-------------	--------

On 17th March 2024 the A-F Ordinary shares of £0.001 each were converted and redesignated as Ordinary Shares of £0.001 each. Each ordinary share shall confer on the holder one vote at any general meeting of the company. Each share has full rights in the company with respect to voting, dividends and distributions on winding up.

13. Events after the end of the reporting period

These financial statements have been prepared on a going concern basis. However, subsequent to the year end, on 31/01/2025, a decision was made to cease trading as part of a wider group reorganisation.

14. Limitation of auditors liability

The company entered into a liability limitation agreement with the auditor on 31 July 2025. The liability of the auditor in respect of any claim or claims made by the company is limited to £4,000,000 inclusive of interest of costs.

15. Summary audit opinion

The auditor's report dated 30 September 2025 was unqualified .

The senior statutory auditor was Peter Swarbrick BSc FCA , for and on behalf of Crossley & Davis Chartered Accountants .

16. Directors' advances, credits and guarantees

During the period the directors entered into the following advances and credits with the company:

	31 Dec 24
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr R M Booth	214,863	( 214,863)	–
Mr P Crooks	210,050	( 210,050)	–
	---------	---------	----
	424,913	( 424,913)	–
	---------	---------	----

	30 Nov 23
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr R M Booth	214,863	–	214,863
Mr P Crooks	210,050	–	210,050
	---------	----	---------
	424,913	–	424,913
	---------	----	---------

17. Related party transactions

Included in debtors are amounts due from connected parties totalling £2,530,449 (2023 - £3,204,820). Included in creditors are amounts due to connected parties totalling £7,345,766 (2023 - £5,785,259)

18. Controlling party

At the balance sheet date the company was under the control of Dura Software UK, Ltd , a company registered in England and Wales. Consolidated accounts can be found at their registered office 66 Lincoln's Inn Fields, London, WC2A 3LH. The ultimate parent company is Dura Software Inc , a company registered in the USA.