Why doesn't the NOAREGS works?

#pragma NOAREGS
char noaregfunc(char i) using 1
{
    return i+1;
}
void main(void)
{
    char ch = noaregfunc(2);
}

                 C_STARTUP:
C:0x0000    020011   LJMP     C:0011
     2: char noaregfunc (char i) using 1 
     3: { 
C:0x0003    C0D0     PUSH     PSW(0xD0)
C:0x0005    75D008   MOV      PSW(0xD0),#0x08
C:0x0008    8F10     MOV      0x10,R7
     4:         return i+1; 
C:0x000A    E510     MOV      A,0x10
C:0x000C    04       INC      A
C:0x000D    FF       MOV      R7,A
     5: } 
     6:  
C:0x000E    D0D0     POP      PSW(0xD0)
C:0x0010    22       RET      
C:0x0011    787F     MOV      R0,#0x7F
C:0x0013    E4       CLR      A
C:0x0014    F6       MOV      @R0,A
C:0x0015    D8FD     DJNZ     R0,C:0014
C:0x0017    758111   MOV      SP(0x81),#0x11
C:0x001A    02001D   LJMP     main(C:001D)
     7: void main(void) 
     8: { 
     9:         char ch = noaregfunc(2); 
C:0x001D    7F02     MOV      R7,#0x02
C:0x001F    120003   LCALL    noaregfunc(C:0003)
C:0x0022    8F11     MOV      0x11,R7
    10: } 
C:0x0024    22       RET