Evolve Development and Project Management Services Limited - Period Ending 2020-05-31

Evolve Development and Project Management Services Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 6

Evolve Development and Project Management Services Limited

Company Information

Directors

Mr P W Seaborne Mrs C E Seaborne

Registered office

12 Burnet Drive Pontllanfraith Blackwood NP12 2FN

Accountants

Mitchell Meredith Limited The Orbit Business Centre Rhydycar Business Park Merthyr Tydfil Mid Glamorgan CF48 1DL

Evolve Development and Project Management Services Limited

(Registration number: 10768109)
Balance Sheet as at 31 May 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	2,792	1,740
Current assets
Debtors	5	354	952
Cash at bank and in hand		7,264	-
		7,618	952
Creditors: Amounts falling due within one year	6	(9,725)	(1,908)
Net current liabilities		(2,107)	(956)
Total assets less current liabilities		685	784
Provisions for liabilities		(531)	(331)
Net assets		154	453
Capital and reserves
Called up share capital		100	100
Profit and loss account		54	353
Shareholders' funds		154	453

Evolve Development and Project Management Services Limited

(Registration number: 10768109)
Balance Sheet as at 31 May 2020

For the financial year ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 May 2021 and signed on its behalf by:
 

Mr P W Seaborne
Director

Mrs C E Seaborne
Director

Evolve Development and Project Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
12 Burnet Drive
Pontllanfraith
Blackwood
NP12 2FN
UK

These financial statements were authorised for issue by the Board on 6 May 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the balance sheet date the company had net current liabilities of £2,107 (2019 - £956) . Included within creditors is a loan from the directors of £8,782. On the basis of their continued support, the directors consider it appropriate to prepare these accounts on the going concern basis.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Evolve Development and Project Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2020

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	20% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2019 - 1).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 June 2019	2,750	2,750
Additions	2,002	2,002
At 31 May 2020	4,752	4,752
Depreciation
At 1 June 2019	1,010	1,010
Charge for the year	950	950
At 31 May 2020	1,960	1,960
Carrying amount
At 31 May 2020	2,792	2,792
At 31 May 2019	1,740	1,740

Evolve Development and Project Management Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2020

5

Debtors

	2020 £	2019 £
Prepayments	354	390
Other debtors	-	562
	354	952

6

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Accruals	816	720
Other creditors	8,909	1,188
	9,725	1,908