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Company Registration No. 09945660 (England and Wales)
Proverb 7 Limited Unaudited accounts for the year ended 31 January 2025
Proverb 7 Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Proverb 7 Limited Company Information for the year ended 31 January 2025
Directors
Ms K L Allen L C H Sherriff N R Maglione
Company Number
09945660 (England and Wales)
Registered Office
The Barn Ramsley Field Station Road Melbourne Derbyshire DE73 8BR United Kingdom
Accountants
Hazelwood Accounting Services Ltd 24 South Street Melbourne Derbyshire DE73 8GB
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Proverb 7 Limited Statement of financial position as at 31 January 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
1,123 
240 
Current assets
Inventories
94,199 
91,066 
Debtors
5
8,112 
23,562 
Cash at bank and in hand
28,578 
10,114 
130,889 
124,742 
Creditors: amounts falling due within one year
6
(468,298)
(467,691)
Net current liabilities
(337,409)
(342,949)
Total assets less current liabilities
(336,286)
(342,709)
Creditors: amounts falling due after more than one year
7
(10,160)
(14,987)
Net liabilities
(346,446)
(357,696)
Capital and reserves
Called up share capital
141 
141 
Share premium
89,987 
89,987 
Profit and loss account
(436,574)
(447,824)
Shareholders' funds
(346,446)
(357,696)
For the year ending 31 January 2025 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 24 October 2025 and were signed on its behalf by
L C H Sherriff Director Company Registration No. 09945660
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Proverb 7 Limited Notes to the Accounts for the year ended 31 January 2025
1
Statutory information
Proverb 7 Limited is a private company, limited by shares, registered in England and Wales, registration number 09945660. The registered office is The Barn, Ramsley Field, Station Road, Melbourne, Derbyshire, DE73 8BR, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised in the period in which the goods and services were provided.
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:
Plant & machinery
20% on reducing balance
Computer equipment
Straight line over 3 years
Inventories
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Foreign exchange
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Leased assets
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
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Proverb 7 Limited Notes to the Accounts for the year ended 31 January 2025
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2024
327 
458 
785 
Additions
1,164 
- 
1,164 
At 31 January 2025
1,491 
458 
1,949 
Depreciation
At 1 February 2024
87 
458 
545 
Charge for the year
281 
- 
281 
At 31 January 2025
368 
458 
826 
Net book value
At 31 January 2025
1,123 
- 
1,123 
At 31 January 2024
240 
- 
240 
5
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
VAT
- 
1,792 
Trade debtors
5,507 
19,649 
Accrued income and prepayments
578 
- 
Other debtors
2,027 
2,121 
8,112 
23,562 
6
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
Bank loans and overdrafts
4,826 
7,286 
VAT
1,995 
- 
Trade creditors
6,204 
5,237 
Taxes and social security
7,256 
5,394 
Other creditors
307,589 
292,875 
Loans from directors
138,935 
156,249 
Accruals
1,493 
650 
468,298 
467,691 
7
Creditors: amounts falling due after more than one year
2025 
2024 
£ 
£ 
Bank loans
10,160 
14,987 
Aggregate of amounts that fall due for payment after five years
811 
3,225 
8
Average number of employees
During the year the average number of employees was 1 (2024: 2).
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