It is shown that the smallest closed subalgebra A l g ( I K , V 1 , … , V n ) ⊂ B ( K ) ( n = 2 , 3 , … , ∞ ) \begin{equation*}Alg(I_{ \mathcal {K}} ,V_{1},\dots ,V_{n})\subset \mathcal {B} (\mathcal {K}) \qquad (n=2,3,\dots ,\infty )\end{equation*} generated by any sequence V 1 , … , V n V_{1},\dots , V_{n} of isometries on a Hilbert space K \mathcal {K} such that V 1 V 1 ∗ + ⋯ + V n V n ∗ ≤ I K V_{1}V_{1}^{*}+\cdots +V_{n}V_{n}^{*}\le I_{\mathcal {K}} is completely isometrically isomorphic to the non-commutative “disc” algebra A n \mathcal {A} _{n} introduced in Math. Scand. 68 (1991), 292–304. We also prove that for n ≠ m n\ne m the Banach algebras A n \mathcal {A} _{n} and A m \mathcal {A} _{m} are not isomorphic. In particular, we give an example of two non-isomorphic Banach algebras which are completely isometrically embedded in each other. The completely bounded (contractive) representations of the “disc” algebras A n ( n = 2 , 3 , … , ∞ ) \mathcal {A} _{n} (n=2,3,\dots ,\infty ) on a Hilbert space are characterized. In particular, we prove that a sequence of operators A 1 , A 2 , … A_{1},A_{2},\dots is simultaneously similar to a contractive sequence T 1 , T 2 , … T_{1},T_{2},\dots (i.e., T 1 T 1 ∗ + ⋯ + T n T n ∗ ≤ I T_{1}T_{1}^{*}+\cdots +T_{n}T_{n}^{*} \le I ) if and only if it is completely polynomially bounded. The first cohomology group of A n \mathcal {A} _{n} with coefficients in C \mathbb {C} is calculated, showing, in particular, that the disc algebras are not amenable. Similar results are proved for the non-commutative Hardy algebras F n ∞ F_{n}^{\infty } introduced in Math. Scand. 68 (1991), 292–304. The right joint spectrum of the left creation operators on the full Fock space is also determined.