Evalve Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07123505

Unaudited Financial Statements

for the Period 1 September 2018 to 31 March 2019

for

Evalve Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J Burch

R D Nicklin

Mrs E L Burch

REGISTERED OFFICE:

Unit J

Loddon Centre

Wade Road

Basingstoke

Hampshire

RG24 8FL

REGISTERED NUMBER:

07123505

ACCOUNTANT:

Tony Brown Accountancy Solutions Limited

Chartered Accountants

Basepoint Business Centre

1 Winnall Valley Road

Winnall

Winchester

Hampshire

SO23 0LD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

66,661

52,934

66,661

52,934

CURRENT ASSETS

Stocks

331,571

301,994

Debtors

6

780,278

592,145

Cash at bank

4,136

10,981

1,115,985

905,120

CREDITORS

Amounts falling due within one year

7

1,161,740

985,153

NET CURRENT LIABILITIES

(45,755

)

(80,033

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,906

(27,099

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

20,806

(27,199

)

SHAREHOLDERS' FUNDS

20,906

(27,099

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors on 21 May 2019 and were signed on its behalf by:

P J Burch - Director

R D Nicklin - Director

Mrs E L Burch - Director

1.	STATUTORY INFORMATION

Evalve Limited is a private company, limited by shares , registered in Not specified/Other. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of four years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

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

moving items.

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.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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 period 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 period was 17 (2018 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2018

and 31 March 2019

15,000

AMORTISATION

At 1 September 2018

and 31 March 2019

15,000

NET BOOK VALUE

At 31 March 2019

-

At 31 August 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2018

16,611

51,206

67,817

Additions

-

21,807

21,807

At 31 March 2019

16,611

73,013

89,624

DEPRECIATION

At 1 September 2018

662

14,221

14,883

Charge for period

1,095

6,985

8,080

At 31 March 2019

1,757

21,206

22,963

NET BOOK VALUE

At 31 March 2019

14,854

51,807

66,661

At 31 August 2018

15,949

36,985

52,934

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.8.18

£

£

Trade debtors

764,982

566,927

Other debtors

15,296

25,218

780,278

592,145

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.8.18

£

£

Trade creditors

515,150

420,768

Taxation and social security

127,933

60,930

Other creditors

518,657

503,455

1,161,740

985,153

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.8.18

£

£

Invoice Discounting

471,755

471,756

9.	OTHER FINANCIAL COMMITMENTS

Total Financial commitments which are not included in the balance sheet amount to £978,442 (2018

£1,012,128)

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 March 2019 and the year

ended 31 August 2018:

31.3.19

31.8.18

£

£

P J Burch

Balance outstanding at start of period

3,476

13,090

Amounts advanced

41,555

3,476

Amounts repaid

(45,377

)

(13,090

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

(346

)

3,476

Mrs E L Burch

Balance outstanding at start of period

-

-

Amounts advanced

45,377

-

Amounts repaid

(45,377

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

-

-

The directors loan to Mr P J Burch is undated and interest free.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is P J Burch.