Company Registration No. 11032898 (England and Wales)
7F TRADING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
7F TRADING LIMITED
COMPANY INFORMATION
Directors
A Bagshaw
J Garner
Company number
11032898
Registered office
23 Princewood Road
Corby
Northants
NN17 4AP
Auditor
TC Group
4 Office Village, Forder Way
Cygnet Park
Hampton
Peterborough
Cambridgeshire
United Kingdom
PE7 8GX
7F TRADING LIMITED
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4
Directors' responsibilities statement
5
Independent auditor's report
6 - 9
Group Profit and Loss account
10
Group statement of comprehensive income
11
Group balance sheet
12 - 13
Company balance sheet
14
Group statement of changes in equity
15
Company statement of changes in equity
16
Group statement of cash flows
17
Notes to the financial statements
18 - 39
7F TRADING LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

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.

PERFORMANCE

The full year 2025 has been a record breaking year for all companies within the 7F Trading Group. Record breaking turnover and profits were recorded in both 7formation and Torney and the newly formed Seven Bespoke Joinery was profitable and above our targeted budget expectations in its first year. Cash remained in an acceptable position for the year however the group will look to strengthen this in 2026 after the numerous investments made in 2025.

The group has now delivered profit growth of c£1m in back to back years and is proud of it’s achievements which have also exceeded our own budget expectations. This profitability has helped provide a stronger balance sheet position but also allowed it to reinvest heavily, improving the facilities and working environment with a strong focus on building a great base for the future.

The group continues to grow from strength to strength and the group has made a positive start to 2026 with turnover and profits set to grow again on 2025 figures based on early expectations.

PEOPLE

2025 has seen various changes in personnel within the group and it’s delighted to announce that Brian Dixon, Thomas Andrews and Michael Fitzpatrick within the 7formation business have been granted performance related share options in the company. This coupled with the appointment and ownership of Seven Bespoke Joinery Director Matthew Leeton demonstrates the companies cast iron commitment to the fact that the people who run the business should have ownership of it and we will continue to look to where we can develop more opportunities like this in future years.

The group has in 2025 seen Financial Director for 7 years, Neil Needham, exit the group and as a board of directors we wish to thank him for all his hard work and for the work he did in helping to grow the group of companies so successfully. We wish Neil all the best for the future.

The group sadly lost one it’s most trusted advisors in early 2026, John Chivers, who was with the group for nearly 8 years as our lead Non Executive advisor. John’s contribution to the group of companies is simply immeasurable and we look forward to remaining great friends with his family in the future who also became part of our journey.

INVESTMENTS

23 PRINCEWOOD ROAD

The group has continued to invest in the property that it operates from at 23 Princewood Road in Corby. In the trading year the investments have included but are not limited to the following:

Installation of new 300KVA Electrical Supply to safeguard the long term power requirements of the future expansion of both 7formation and Seven Bespoke joinery.

Complete replacement of the roof of the building with new and improved thermal insulation which will provide both ESG and financial benefits.

7F TRADING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

Installed 199 Solar Panels with the associated battery storage and Grid-Return facilities to enhance our green energy provision and provide a vital source of clean, cheap energy during the sunnier months.

Development of new meeting room facilities with all the latest associated technology to facilitate virtual meetings. This new facility has allowed us meet more regularly in person in the office which is part of our values of being “in-person people”.

SEVEN BESPOKE JOINERY

The group formed a new bespoke Joinery business in 2025 which has seen investments in the building at 23 Princewood road to facilitate the new workshop but also several hundreds of thousands invested in new state of the art machinery to support the expansion of the business moving forward.

EASTON HOUSE

As part of the group’s long term plans to reinvest its cash pile in order to provide return to it’s shareholders, the property development sector, known for it’s good returns, has been targeted for some time. This coupled with the fact that it can add value with it’s inherent skill set has made this avenue even more desirable. The group has, for some time, been looking at different properties and land options and in the last quarter of 2025 secured the freehold of Easton House, the former CIPS building in Easton on the Hill. The group has commenced the planning process as it considers it’s options for development during the course of 2026. The group are extremely pleased with the acquisition and the opportunities it provides.

SUMMARY

2025 has been a year of much change for the business with growth, profits, people and investments. The group is looking forward to a period of stability in 2026 especially with the uncertain macro economic conditions. 2025 has set a fantastic base of which to grow if necessary but similarly weather any market storms in the short term future and the board are pleased with this position of flexibility.

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.

LIQUIDITY

Operating in a low margin sector always means that liquidity is of constant consideration. The company has several strategies to protect this including customer cash safety improvement, margin improvement and also solid financial husbandry.

7F TRADING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

PEOPLE

As is often documented in the media the number of trained and qualified staff of all levels in the construction industry is severely under pressure. It is those concerns that has ensured the company prioritises the training its own staff and recruitment of apprentices so as we can train our people, our way.

HEALTH AND SAFETY

Health and Safety risk and prevention is highlighted above within the report.

INFLATION

Inflation is a double headed inherent risk to a construction company with long term contracts and the exposure to the retail market which is heavily exposed to inflation rises as we witnessed is 2023. The company protects itself by commercially negotiating regular reviews of contracts and clauses to negate any long term impacts. The movement of the company towards more public sector contracting will also help this.

KEY PERFORMANCE INDICATORS

The key performance indicators for the year were as follows:

Unit
2025
2024
Turnover
£
60,908,129
44,291,018
Gross Profit
%
10.6
11.8
EBITDA
£
3,127,020
2,225,009

On behalf of the board

J Garner
Director
1 May 2026
7F TRADING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

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 10.

Ordinary dividends were paid amounting to £601,969. 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 (Resigned 3 October 2025)

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
J Garner
Directror
1 May 2026
7F TRADING LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -

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
- 6 -
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 2025 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 2025 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
- 7 -

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
- 8 -
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
- 9 -

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
1 May 2026
7F TRADING LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
2025
2024
Notes
£
£
Turnover
3
60,908,129
44,291,018
Cost of sales
(54,457,924)
(39,061,653)
Gross profit
6,450,205
5,229,365
Administrative expenses
(3,727,839)
(3,337,195)
Other operating income
81,595
113,010
Operating profit
4
2,803,961
2,005,180
Interest receivable and similar income
17,803
13,988
Interest payable and similar expenses
7
(60,497)
(41,854)
Profit before taxation
2,761,267
1,977,314
Tax on profit
8
(783,168)
(446,470)
Profit for the financial year
25
1,978,099
1,530,844
Profit for the financial year is attributable to:
- Owners of the parent company
1,942,683
1,509,460
- Non-controlling interests
35,416
21,384
1,978,099
1,530,844
7F TRADING LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
2025
2024
£
£
Profit for the year
1,978,099
1,530,844
Other comprehensive income
-
-
Total comprehensive income for the year
1,978,099
1,530,844
Total comprehensive income for the year is attributable to:
- Owners of the parent company
1,942,683
1,509,460
- Non-controlling interests
35,416
21,384
1,978,099
1,530,844
7F TRADING LIMITED
GROUP BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 12 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
10
2,842
-
0
Tangible assets
11
1,655,111
1,398,220
Investment properties
12
1,860,241
-
0
3,518,194
1,398,220
Current assets
Stocks
15
40,161
38,758
Debtors
16
17,347,072
10,134,248
Cash at bank and in hand
2,758,492
3,166,548
20,145,725
13,339,554
Creditors: amounts falling due within one year
17
(17,992,804)
(11,164,906)
Net current assets
2,152,921
2,174,648
Total assets less current liabilities
5,671,115
3,572,868
Creditors: amounts falling due after more than one year
18
(1,211,397)
(152,717)
Provisions for liabilities
Deferred tax liability
22
119,055
50,621
(119,055)
(50,621)
Net assets
4,340,663
3,369,530
Capital and reserves
Called up share capital
24
1,203
1,246
Share premium account
25
24,254
24,254
Capital redemption reserve
25
646
600
Other reserves
25
967,887
967,887
Profit and loss reserves
25
3,363,193
2,390,127
Equity attributable to owners of the parent company
4,357,183
3,384,114
Non-controlling interests
(16,520)
(14,584)
4,340,663
3,369,530
7F TRADING LIMITED
GROUP BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 13 -
The financial statements were approved by the board of directors and authorised for issue on 1 May 2026 and are signed on its behalf by:
01 May 2026
J Garner
Director
7F TRADING LIMITED
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 14 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
13
164,472
164,472
Current assets
Debtors
16
99,562
86,563
Cash at bank and in hand
85,795
197,058
185,357
283,621
Creditors: amounts falling due within one year
17
(294,883)
(341,125)
Net current liabilities
(109,526)
(57,504)
Net assets
54,946
106,968
Capital and reserves
Called up share capital
24
1,203
1,246
Share premium account
25
24,254
24,254
Capital redemption reserve
25
646
600
Profit and loss reserves
25
28,843
80,868
Total equity
54,946
106,968

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 £909,944 (2024 - £211,376 profit).

The financial statements were approved by the board of directors and authorised for issue on 1 May 2026 and are signed on its behalf by:
01 May 2026
J Garner
Director
Company Registration No. 11032898
7F TRADING LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
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 2024
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)
Disposal of shares in subsidiary to non-controlling interest
-
-
-
-
(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
Year ended 31 December 2025:
Profit and total comprehensive income for the year
-
-
-
-
1,942,683
1,942,683
35,416
1,978,099
Issue of share capital
24
3
-
0
-
-
-
3
-
3
Dividends
9
-
-
-
-
(601,969)
(601,969)
(45,000)
(646,969)
Own shares acquired
-
-
-
-
0
(360,000)
(360,000)
-
(360,000)
Redemption of shares
24
(46)
-
46
-
-
-
0
-
-
Other movements
-
-
-
-
-
-
7,648
7,648
Balance at 31 December 2025
1,203
24,254
646
967,887
3,363,193
4,357,183
(16,520)
4,340,663
7F TRADING LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 16 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 January 2024
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
Year ended 31 December 2025:
Profit and total comprehensive income for the year
-
-
-
909,944
909,944
Issue of share capital
24
3
-
0
-
-
3
Dividends
9
-
-
-
(601,969)
(601,969)
Own shares acquired
-
-
-
(360,000)
(360,000)
Redemption of shares
24
(46)
-
46
-
-
0
Balance at 31 December 2025
1,203
24,254
646
28,843
54,946
7F TRADING LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
28
2,528,030
4,198,131
Interest paid
(60,497)
(41,854)
Income taxes paid
(434,161)
(147,617)
Net cash inflow from operating activities
2,033,372
4,008,660
Investing activities
Purchase of intangible assets
(3,727)
-
Purchase of tangible fixed assets
(591,985)
(438,062)
Proceeds on disposal of tangible fixed assets
38,169
21,000
Purchase of investment property
(1,860,241)
-
Interest received
17,803
13,988
Net cash used in investing activities
(2,399,981)
(403,074)
Financing activities
Proceeds from issue of shares
3
-
Purchase of own shares
(360,000)
-
0
Proceeds from other bank loans
1,200,000
-
Repayment of other borrowings
(213,934)
(329,563)
Proceeds from other borrowings
155,000
-
Repayment of bank loans
(64,655)
(60,000)
Payment of finance leases obligations
(110,892)
(118,448)
Dividends paid to equity shareholders
(601,969)
(229,990)
Dividends paid to non-controlling interests
(45,000)
(32,946)
Net cash used in financing activities
(41,447)
(770,947)
Net (decrease)/increase in cash and cash equivalents
(408,056)
2,834,639
Cash and cash equivalents at beginning of year
3,166,548
331,909
Cash and cash equivalents at end of year
2,758,492
3,166,548
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
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 2025
1
Accounting policies
(Continued)
- 19 -
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 2025. 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 2025
1
Accounting policies
(Continued)
- 20 -

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 2025
1
Accounting policies
(Continued)
- 21 -
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:

Software
4 years straight line
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
Plant and machinery
33% reducing balance or 33% straight line
Computer equipment
25%-33% reducing balance or 25% straight line
Motor vehicles
33% reducing balance or 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
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.10
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.

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 22 -

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.

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.

1.11
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 2025
1
Accounting policies
(Continued)
- 23 -

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.

1.12
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.

1.13
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.

1.14
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 2025
1
Accounting policies
(Continued)
- 24 -
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 2025
1
Accounting policies
(Continued)
- 25 -
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.

1.15
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.

1.16
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 2025
1
Accounting policies
(Continued)
- 26 -
1.17
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.

1.18
Retirement benefits

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

1.19
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.

1.20

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 2025
- 27 -
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
2025
2024
£
£
Turnover analysed by class of business
Sales
60,908,129
44,291,018
2025
2024
£
£
Other significant revenue
Interest income
17,803
13,988
Rental income
50,593
92,823
Other income
31,002
20,187
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 28 -
4
Operating profit
2025
2024
£
£
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)
Depreciation of owned tangible fixed assets
231,387
148,000
Depreciation of tangible fixed assets held under finance leases
54,175
61,829
Loss on disposal of tangible fixed assets
36,613
10,000
Amortisation of intangible assets
885
-
Auditors' remuneration
18,000
24,000
Hire of plant and machinery
957,201
856,875
Operating lease charges
71,516
58,345
5
Employees

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

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Directors
3
3
-
-
Management, administration and site
56
54
-
-
Total
59
57
0
0

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
2,998,973
3,043,381
30,000
-
0
Social security costs
369,758
348,165
-
-
Pension costs
137,380
135,060
40,000
50,000
3,506,111
3,526,606
70,000
50,000
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 29 -
6
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
296,210
256,454
Company pension contributions to defined contribution schemes
62,281
72,281
358,491
328,735
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
125,677
125,677
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 4 - 2).

7
Interest payable and similar expenses
2025
2024
£
£
Interest on bank overdrafts and loans
8,368
14,399
Other interest on financial liabilities
7,187
7,000
Interest on finance leases and hire purchase contracts
15,689
13,155
Other interest
29,253
7,300
Total finance costs
60,497
41,854
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
644,859
456,473
Adjustments in respect of prior periods
69,875
-
0
Total current tax
714,734
456,473
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
8
Taxation
2025
2024
£
£
(Continued)
- 30 -
Deferred tax
Origination and reversal of timing differences
68,434
(10,003)
Total tax charge
783,168
446,470

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:

2025
2024
£
£
Profit before taxation
2,761,267
1,977,314
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
690,317
494,329
Tax effect of expenses that are not deductible in determining taxable profit
85,354
56,658
Other permanent differences
635
(516)
Capital allowances in excess of depreciation
(63,013)
(34,126)
Research and development enhanced deduction
69,875
(69,875)
Taxation charge
783,168
446,470
9
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Interim paid
601,969
229,990
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 31 -
10
Intangible fixed assets
Group
Software
Development costs
Total
£
£
£
Cost
At 1 January 2025
-
0
3,000
3,000
Additions
3,727
-
0
3,727
At 31 December 2025
3,727
3,000
6,727
Amortisation and impairment
At 1 January 2025
-
0
3,000
3,000
Amortisation charged for the year
885
-
0
885
At 31 December 2025
885
3,000
3,885
Carrying amount
At 31 December 2025
2,842
-
0
2,842
At 31 December 2024
-
0
-
0
-
0
The company had no intangible fixed assets at 31 December 2025 or 31 December 2024.
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 32 -
11
Tangible fixed assets
Group
Improvements to property
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
1,155,493
-
0
295,474
466,383
1,917,350
Additions
111,995
213,746
165,744
125,750
617,235
Disposals
-
0
-
0
(1,450)
(192,753)
(194,203)
At 31 December 2025
1,267,488
213,746
459,768
399,380
2,340,382
Depreciation and impairment
At 1 January 2025
136,503
-
0
169,617
213,010
519,130
Depreciation charged in the year
115,549
28,176
67,521
74,316
285,562
Eliminated in respect of disposals
-
0
-
0
(1,450)
(117,971)
(119,421)
At 31 December 2025
252,052
28,176
235,688
169,355
685,271
Carrying amount
At 31 December 2025
1,015,436
185,570
224,080
230,025
1,655,111
At 31 December 2024
1,018,990
-
0
125,857
253,373
1,398,220
The company had no tangible fixed assets at 31 December 2025 or 31 December 2024.

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
2025
2024
2025
2024
£
£
£
£
Motor vehicles
135,837
230,738
-
0
-
0
12
Investment property
Group
Company
2025
2025
£
£
Fair value
At 1 January 2025 and 31 December 2025
-
-
Additions through external acquisition
1,860,241
-
At 31 December 2025
1,860,241
-
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
12
Investment property
(Continued)
- 33 -

On 21 November 2025 the group purchased an investment property at a total cost of £1,861,412. The directors believe the value of the property has not changed between the purchase date and the year end.

The property has been used as security for a loan, as disclosed in Note 1 9.

13
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
164,472
164,472
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2025 and 31 December 2025
164,472
Carrying amount
At 31 December 2025
164,472
At 31 December 2024
164,472
14
Subsidiaries

Details of the company's subsidiaries at 31 December 2025 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 Plant Hire Ltd was incorporated on 23 June 2024 and remained dormant up to the year end 31 December 202 5. The company was exempt from having an audit due to its dormant status.

Under section 479A of the companies act, Torney Limited and Seven Bespoke Joinery Ltd were exempted from the requirement for an audit of their individual financial statements.

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 34 -
15
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Inventory
40,161
38,758
-
-
16
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
8,652,970
4,706,494
-
0
-
0
Amounts recoverable on contract
7,463,007
4,937,193
-
0
-
0
Amounts owed by group undertakings
-
0
-
0
31,484
-
0
Other debtors
846,349
217,435
63,818
86,563
Prepayments and accrued income
384,746
273,126
4,260
-
0
17,347,072
10,134,248
99,562
86,563
17
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans
19
120,535
60,000
-
0
-
0
Obligations under finance leases
20
37,639
107,153
-
0
-
0
Other borrowings
19
155,000
213,932
155,000
213,932
Trade creditors
7,300,874
5,205,621
1,822
-
0
Amounts owed to group undertakings
-
0
-
0
82,861
119,257
Corporation tax payable
744,188
463,615
-
0
-
0
Other taxation and social security
3,058,499
2,029,392
-
-
0
Deferred income
23
-
0
50,000
-
0
-
0
Other creditors
2,306
3,383
-
0
-
0
Accruals
6,573,763
3,031,810
55,200
7,936
17,992,804
11,164,906
294,883
341,125
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 35 -
18
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
19
1,154,808
80,000
-
0
-
0
Obligations under finance leases
20
56,589
72,717
-
0
-
0
1,211,397
152,717
-
-
19
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
1,275,343
140,000
-
0
-
0
Other loans
155,000
213,932
155,000
213,932
1,430,343
353,932
155,000
213,932
Payable within one year
275,535
273,932
155,000
213,932
Payable after one year
1,154,808
80,000
-
0
-
0

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. As at 31 December 2025 there was £80,000 outstanding at the year end for this loan.

The group has another loan facility in operation which is repayable in instalments and carry interest of 2.00% over the Bank of England base rate. As at 31 December 2025 there was £1,190,687 outstanding at the year end for this loan.

The loans are all due under 5 years.

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 36 -
20
Finance lease obligations
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
37,639
107,153
-
0
-
0
In two to five years
56,589
72,717
-
0
-
0
94,228
179,870
-
-
21
Secured debts

The following secured debts are included in creditors:

Bank loans - £1,275,343 (2024 - £140,0 00)

Hire purchase contracts - £94,228 (2024 - £179,870)

Total - £1,369,571 (2024 - £319,870)

Bank loans are secured by way of an unlimited debenture over the assets of a company within the group. A bank loan with a total outstanding amount of £1,190,687 as at 31 December 2025 is secured against the investment property held at £1,860,241.

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

22
Deferred taxation

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

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
119,055
50,621
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 2025
22
Deferred taxation
(Continued)
- 37 -
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 January 2025
50,621
-
Charge to profit or loss
68,434
-
Liability at 31 December 2025
119,055
-

The rate of deferred taxation provisions on accelerated capital allowances is 25% (2024 - 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.

23
Deferred income
Group
Company
2025
2024
2025
2024
£
£
£
£
Other deferred income
-
50,000
-
-
24
Share capital
Group and company
2025
2024
2025
2024
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
E Ordinary of £1 each
1
-
1
-
F Ordinary of £1 each
1
-
1
-
G Ordinary of £1 each
1
-
1
-
1,203
1,246
1,203
1,246

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

25
Reserves
7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
25
Reserves
(Continued)
- 38 -

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.

26
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
2025
2024
2025
2024
£
£
£
£
Within one year
234,717
193,533
-
-
Between two and five years
199,993
288,413
-
-
434,710
481,946
-
-
27
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 £901,655 (2024 - £1,922,495) from companies in which one or more director(s) has a significant participating interest. During the year the group made sales of £nil (202 4 - £nil) to companies in which one or more directors has a significant participating interest. Amounts owed to these companies at the year end totalled £8,400 (2024 - £231,260) respectively.

During the year the group made loans of £566,420 (2024- £31,574) to companies in which one or more directors has a significant participating interest. Amounts owing from these companies at the year end totalled £759,069 (2024 - £171,900).

7F TRADING LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 39 -
28
Cash generated from group operations
2025
2024
£
£
Profit for the year after tax
1,978,099
1,530,844
Adjustments for:
Taxation charged
783,168
446,470
Interest payable and similar charges
60,497
41,854
Interest received
(17,803)
(13,988)
Loss on disposal of tangible fixed assets
36,613
10,000
Amortisation and impairment of intangible assets
885
-
Depreciation and impairment of tangible fixed assets
285,562
209,829
Movements in working capital:
Increase in stocks
(1,403)
(38,758)
(Increase)/decrease in debtors
(7,212,824)
1,957,200
Increase in creditors
6,715,236
4,680
(Decrease)/increase in deferred income
(100,000)
50,000
Cash generated from operations
2,528,030
4,198,131
29
Analysis of changes in net funds - group
1 January 2025
Cash flows
Other non-cash changes
31 December 2025
£
£
£
£
Cash at bank and in hand
3,166,548
(408,056)
-
2,758,492
Borrowings excluding overdrafts
(353,932)
(1,076,411)
-
(1,430,343)
Obligations under finance leases
(179,870)
110,892
(25,250)
(94,228)
2,632,746
(1,373,575)
(25,250)
1,233,921
30
Ultimate Controlling Party

There is not considered to be a ultimate controlling party.

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