Evolve Security Products Limited - Accounts to registrar (filleted) - small 18.2

Evolve Security Products Limited - Accounts to registrar (filleted) - small 18.2

EVOLVE SECURITY PRODUCTS LIMITED - Company Information

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REGISTERED NUMBER: 08340416 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

EVOLVE SECURITY PRODUCTS LIMITED
EVOLVE SECURITY PRODUCTS LIMITED (REGISTERED NUMBER: 08340416)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EVOLVE SECURITY PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2020







DIRECTORS: Mr A D Brown
Mrs J T Brown





REGISTERED OFFICE: Fleming Court
Leigh Road
Eastleigh
Hampshire
SO50 9PD





BUSINESS ADDRESS: Unit 5, Kenyons Yard
Weyhill Road
Andover
Hampshire
SP10 3NP





REGISTERED NUMBER: 08340416 (England and Wales)





Page 1
EVOLVE SECURITY PRODUCTS LIMITED (REGISTERED NUMBER: 08340416)

BALANCE SHEET
31 DECEMBER 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,010 1,347

CURRENT ASSETS
Stocks 69,220 -
Debtors 6 92,682 178,278
Cash at bank and in hand 13,353 12,945
175,255 191,223
CREDITORS
Amounts falling due within one year 7 149,875 155,820
NET CURRENT ASSETS 25,380 35,403
TOTAL ASSETS LESS CURRENT
LIABILITIES
26,390
36,750

PROVISIONS FOR LIABILITIES - 256
NET ASSETS 26,390 36,494

CAPITAL AND RESERVES
Called up share capital 8 101 101
Retained earnings 26,289 36,393
SHAREHOLDERS' FUNDS 26,390 36,494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2021 and were signed on its behalf by:





Mr A D Brown - Director


The notes form part of these financial statements

Page 2
EVOLVE SECURITY PRODUCTS LIMITED (REGISTERED NUMBER: 08340416)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020


1. STATUTORY INFORMATION

Evolve Security Products Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

All fixed assets are initially recorded at cost.

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

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in administrative expenses.

Page 3 continued...
EVOLVE SECURITY PRODUCTS LIMITED (REGISTERED NUMBER: 08340416)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020


3. ACCOUNTING POLICIES - continued

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2020
and 31 December 2020 2,499
DEPRECIATION
At 1 January 2020 1,152
Charge for year 337
At 31 December 2020 1,489
NET BOOK VALUE
At 31 December 2020 1,010
At 31 December 2019 1,347

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 92,337 177,910
Other debtors 345 368
92,682 178,278

Included in other debtors is £345 (2019: £368) in relation to prepayments and accrued income.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 127 -
Amounts owed to group undertakings 135,452 135,452
Taxation and social security 11,503 10,403
Other creditors 2,793 9,965
149,875 155,820

Included in other creditors is £2,400 (2019: £8,400) in relation to accruals and deferred income.

Page 4 continued...
EVOLVE SECURITY PRODUCTS LIMITED (REGISTERED NUMBER: 08340416)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
value: £    £   
100 Ordinary A £1 100 100
100 Ordinary B 1p 1 1
101 101

Page 5