REGISTERED NUMBER: 02140368 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

FOR

7E COMMUNICATIONS LTD

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

3,326,880

227,981

Investments

5

145,251

145,251

3,472,131

373,232

CURRENT ASSETS

Stocks

223,591

202,630

Debtors

6

1,811,177

5,152,581

Cash at bank and in hand

1,132,693

4,124,947

3,167,461

9,480,158

CREDITORS

Amounts falling due within one year

7

1,909,975

5,313,104

NET CURRENT ASSETS

1,257,486

4,167,054

TOTAL ASSETS LESS CURRENT LIABILITIES

4,729,617

4,540,286

CREDITORS

Amounts falling due after more than one year

8

-

(11,555

)

PROVISIONS FOR LIABILITIES

(25,375

)

(27,210

)

NET ASSETS

4,704,242

4,501,521

CAPITAL AND RESERVES

Called up share capital

2

2

Capital redemption reserve

1

1

Retained earnings

4,704,239

4,501,518

SHAREHOLDERS' FUNDS

4,704,242

4,501,521

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 25 March 2019 and were signed by:

P Beardow - Director

1.	STATUTORY INFORMATION

7E Communications Ltd is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address are as below:

Registered number:

02140368

Registered office:

Signal House

127 Molesey Avenue

West Molesey

Surrey

KT8 2FF

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced value of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Short leasehold

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2017

111,804

4,810,630

4,922,434

Additions

3,144,760

25,327

3,170,087

Disposals

(111,804

)

(15,946

)

(127,750

)

At 31 August 2018

3,144,760

4,820,011

7,964,771

DEPRECIATION

At 1 September 2017

111,804

4,582,649

4,694,453

Charge for year

7,860

63,328

71,188

Eliminated on disposal

(111,804

)

(15,946

)

(127,750

)

At 31 August 2018

7,860

4,630,031

4,637,891

NET BOOK VALUE

At 31 August 2018

3,136,900

189,980

3,326,880

At 31 August 2017

-

227,981

227,981

5.	FIXED ASSET INVESTMENTS

The company owns 33.83% (2016 33.83%) of the issued ordinary share capital of Cambridge

Biopolymers Ltd. an unlisted company registered in England & Wales. The activities of Cambridge

Biopolymers Ltd are in bio-technology and are wholly unrelated to 7E Communications Ltd.

Whilst Mr P V F Beardow is a non executive director of Cambridge Biopolymers Ltd the company does

not exercise influence on the operating and financial policies of that company. The company therefore

does not consider Cambridge Biopolymers Ltd as an associate.

The investment is shown at the lower of cost and net realisable value as assessed by the director.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,186,821

2,134,528

Other debtors

-

125,000

Other loans

471,860

401,563

Directors' loan accounts

119,922

2,441,521

VAT

26,235

22,568

Prepayments and accrued income

6,339

27,401

1,811,177

5,152,581

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

1,669,418

3,650,242

Tax

51,773

90,561

Social security and other taxes

4,638

9,363

Accruals and deferred income

184,146

1,562,938

1,909,975

5,313,104

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Amounts owed to participating interests

-

11,555

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2018 and

31 August 2017:

2018

2017

£

£

P Beardow

Balance outstanding at start of year

2,441,521

-

Amounts advanced

678,401

2,441,521

Amounts repaid

(3,000,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

119,922

2,441,521

The loan is repayable on demand with interest at the rate of 2.50% per annum.

10.	RELATED PARTY DISCLOSURES

The controlling party is P Beardow.