ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation


075722857COM LIMITED2014-04-012015-03-31falsetrue2015-03-31075722852014-04-012015-03-31075722852015-03-31075722852014-03-3107572285 c:FixturesFittingsToolsEquipment 2014-04-012015-03-3107572285 d:OrdinaryShareClass1 2015-03-3107572285 d:OrdinaryShareClass1 2014-03-3107572285 d:OrdinaryShareClass1 2014-04-012015-03-3107572285 d:Director1 2014-04-012015-03-3107572285 c:OfficeEquipment 2014-04-012015-03-3107572285 c:OtherTangibleFixedAssets 2014-04-012015-03-3107572285 c:LandBuildings c:OwnedOrFreeholdTangibleFixedAssets 2014-04-012015-03-3107572285 c:ProvisionsForDeferredTaxation 2014-03-31xbrli:sharesiso4217:GBP
Registered number: 07572285










7COM LIMITED
UNAUDITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015




































 
7COM LIMITED
REGISTERED NUMBER: 07572285

ABBREVIATED BALANCE SHEET
AS AT 31 MARCH 2015

2015
2014
Note
£
£
£
£
 
FIXED ASSETS





 
Tangible assets
 
2
107,181
224,965
 
CURRENT ASSETS





 
Debtors
55,635
38,447

 
Cash at bank

195,735
89,612







 
251,370
128,059
 
CREDITORS: amounts falling due within one year
(185,221)
(190,743)
 
NET CURRENT ASSETS/(LIABILITIES)


66,149

(62,684)
 
TOTAL ASSETS LESS CURRENT LIABILITIES
173,330
162,281
 
PROVISIONS FOR LIABILITIES





 
Deferred tax
(2,798)
(3,223)

NET ASSETS




 170,532


 159,058
  
CAPITAL AND RESERVES

 
Called up share capital
3
146,063
146,063
 
Profit and loss account
24,469
12,995
 
SHAREHOLDERS' FUNDS
 

 170,532

 159,058

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7COM LIMITED
 
    
ABBREVIATED BALANCE SHEET (continued)
AS AT 31 MARCH 2015

The director considers that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. 

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.


The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by: 





Dr Ian Watson
Director

Date: 22 December 2015

The notes on pages 3 to 4 form part of these financial statements.

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7COM LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015

1.ACCOUNTING POLICIES

1.1
Basis of preparation of financial statements

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2
Cash flow

The financial statements do not include a Cash flow statement because the company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.3
Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.4
Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation.  Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold property
-
Not depreciated
Fixtures & fittings
-
25% reducing balance
Office equipment
-
25% reducing balance
Property improvements
-
Not depreciated

1.5
Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Profit and loss account.

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7COM LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015

2.TANGIBLE FIXED ASSETS



£


Cost 


At 1 April 2014
239,527

Additions
2,610

Disposals
(115,000)


At 31 March 2015

127,137



Depreciation


At 1 April 2014
14,562

Charge for the year
5,394


At 31 March 2015

19,956




Net book value


At 31 March 2015
 107,181


At 31 March 2014

 224,965


3.SHARE CAPITAL
        2015
        2014
        £

        £

Allotted, called up and fully paid



146,063 Ordinary shares of £1 each
 146,063
 146,063

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