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

REGISTERED NUMBER: 07123505

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Evalve Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P J 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

35,169

43,395

35,169

43,395

CURRENT ASSETS

Stocks

577,948

457,253

Debtors

6

1,041,481

1,074,855

Cash at bank

4,005

63,623

1,623,434

1,595,731

CREDITORS

Amounts falling due within one year

7

1,302,044

1,518,881

NET CURRENT ASSETS

321,390

76,850

TOTAL ASSETS LESS CURRENT LIABILITIES

356,559

120,245

PROVISIONS FOR LIABILITIES

4,573

5,779

NET ASSETS

351,986

114,466

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

351,886

114,366

SHAREHOLDERS' FUNDS

351,986

114,466

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2022 and were signed by:

P J Burch - 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 year 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 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.

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 year was 19 (2020 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

15,000

AMORTISATION

At 1 April 2020

and 31 March 2021

15,000

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2020

16,611

61,013

77,624

Additions

-

1,436

1,436

At 31 March 2021

16,611

62,449

79,060

DEPRECIATION

At 1 April 2020

3,634

30,595

34,229

Charge for year

1,877

7,785

9,662

At 31 March 2021

5,511

38,380

43,891

NET BOOK VALUE

At 31 March 2021

11,100

24,069

35,169

At 31 March 2020

12,977

30,418

43,395

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

929,215

989,840

Other debtors

112,266

85,015

1,041,481

1,074,855

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

627,769

554,409

Taxation and social security

135,383

139,202

Other creditors

538,892

825,270

1,302,044

1,518,881

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Invoice Discounting

341,505

654,658

The security is held by a fixed and floating charge over the company property and assets.

9.	OTHER FINANCIAL COMMITMENTS

Total Financial commitments which are not included in the balance sheet amount to £739,518 (2020 £858,980). There is also a rent deposit charge of £2,833.33 net of VAT held.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2021 and 31 March 2020:

31.3.21

31.3.20

£

£

P J Burch and Mrs E L Burch

Balance outstanding at start of year

(28

)

(346

)

Amounts advanced

24,136

133,988

Amounts repaid

-

(133,670

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

24,108

(28

)

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

11.	ULTIMATE CONTROLLING PARTY

On 2nd March 2021 the company became a 100% subsidiary of Shawston Holdings Limited a company with a registered office at Office 34, The Forum, Tameside Business Park, Windmill Lane, Manchester M34 3QS.