7 Energy Limited Small abbreviated accounts

COMPANY REGISTRATION NUMBER 07228481

7 ENERGY LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

31 December 2015

STEWART ASSOCIATES SHREWSBURY LTD

Chartered Accountants

Emstrey House North

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG

7 ENERGY LIMITED

ABBREVIATED BALANCE SHEET

31 December 2015

	2015	2014
Note	£	£	£	£
Fixed Assets	2
Tangible assets		24,515		4,125

Current Assets

Stocks	9,129		8,375
Debtors	70,408		123,635
Cash at bank and in hand	33,059		2,717
	----------		----------
	112,596		134,727
Creditors: Amounts Falling due Within One Year	3	74,010		60,117
		----------		----------
Net Current Assets		38,586		74,610
		---------		---------
Total Assets Less Current Liabilities		63,101		78,735

Creditors: Amounts Falling due after More than One Year	4		12,191		-
		---------		---------
		50,910		78,735
		---------		---------

Capital and Reserves

Called up equity share capital	5		100		100
Profit and loss account		50,810		78,635
		---------		---------
Shareholders' Funds		50,910		78,735
		---------		---------

For the year ended 31st December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved and signed by the director and authorised for issue on 28 September 2016 .

Mr M J Dowley

Company Registration Number: 07228481

7 ENERGY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31st DECEMBER 2015

1. Accounting Policies

Basis of Accounting

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Fixed Assets

All fixed assets are initially recorded at cost.

Depreciation

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

Fixtures & Fittings-15% straight line

Motor Vehicles-15% straight line

Equipment-33.33% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in Progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Hire Purchase Agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Operating Lease Agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial Instruments

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 entity after deducting all of its financial liabilities.

2. Fixed Assets

	Tangible Assets
	£

Cost

At 1st January 2015	13,327
Additions	27,562
	---------
At 31st December 2015	40,889
	---------

Depreciation

At 1st January 2015	9,202
Charge for year	7,172
	---------
At 31st December 2015	16,374
	---------

Net Book Value

At 31st December 2015	24,515
	---------

At 31st December 2014	4,125
	---------

3. Creditors: Amounts Falling due Within One Year

The following liabilities disclosed under creditors falling due within one year are secured by the company:

	2015	2014
	£	£
Hire purchase agreements	5,807	-
	-------	----

4. Creditors: Amounts Falling due after More than One Year

The following liabilities disclosed under creditors falling due after more than one year are secured by the company:

	2015	2014
	£	£
Hire purchase agreements	12,191	-
	---------	----

5. Share Capital

Allotted, called up and fully paid:

2015	2014
No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----