Evolve Family Law (EOT) Ltd 31/10/2022 iXBRL

Evolve Family Law (EOT) Ltd 31/10/2022 iXBRL

EVOLVE FAMILY LAW (EOT) LTD - Company Information

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2 31/10/2022 2022-10-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2021-11-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 13688733 2021-11-01 2022-10-31 13688733 2022-10-31 13688733 bus:Director1 2021-11-01 2022-10-31 13688733 core:WithinOneYear 2022-10-31 13688733 core:RetainedEarningsAccumulatedLosses 2022-10-31 13688733 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2022-10-31 13688733 core:CostValuation core:Non-currentFinancialInstruments 2022-10-31 13688733 core:Non-currentFinancialInstruments 2022-10-31 13688733 bus:SmallEntities 2021-11-01 2022-10-31 13688733 bus:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 13688733 bus:FullAccounts 2021-11-01 2022-10-31 13688733 bus:SmallCompaniesRegimeForAccounts 2021-11-01 2022-10-31 13688733 bus:CompanyLimitedByGuarantee 2021-11-01 2022-10-31
Company registration number: 13688733
Evolve Family Law (EOT) Ltd
Company limited by guarantee
Unaudited filleted financial statements
31 October 2022
Evolve Family Law (EOT) Ltd
Company limited by guarantee
Contents
Statement of financial position
Notes to the financial statements
Evolve Family Law (EOT) Ltd
Company limited by guarantee
Statement of financial position
31 October 2022
2022
Note £ £
Fixed assets
Investments 6 1,300,000
_______
1,300,000
Creditors: amounts falling due
within one year 7 ( 1,192,500)
_______
Net current liabilities ( 1,192,500)
_______
Total assets less current liabilities 107,500
_______
Net assets 107,500
_______
Capital and reserves
Profit and loss account 107,500
_______
Members funds 107,500
_______
For the year ending 31 October 2022 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 14 July 2023 , and are signed on behalf of the board by:
Mr Robin Charrot
Director
Company registration number: 13688733
Evolve Family Law (EOT) Ltd
Company limited by guarantee
Notes to the financial statements
Year ended 31 October 2022
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 4 The Clocktower Manor Lane, Holmes Chapel, Crewe, CW4 8DJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The company is limited by guarantee, not having a share capital and consequently the liability of the members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 2
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 November 2021 - -
Additions 1,300,000 1,300,000
_______ _______
At 31 October 2022 1,300,000 1,300,000
_______ _______
Impairment
At 1 November 2021 and 31 October 2022 - -
_______ _______
Carrying amount
At 31 October 2022 1,300,000 1,300,000
_______ _______
7. Creditors: amounts falling due within one year
2022
£
Other creditors 1,192,500
_______
8. Related party transactions
In preparing these financial statements, the directors have taken advantage of the exemptions avalible under section 33 paragraph 1A of the Financial Reporting Standard 102, and have not disclosed transactions entered into between wholly owned group undertakings.