IRIS Accounts Production v23.2.0.158 11453099 Board of Directors 1.8.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh114530992022-07-31114530992023-03-31114530992022-08-012023-03-31114530992021-07-31114530992021-08-012022-07-31114530992022-07-3111453099ns10:Originalns15:EnglandWales2022-08-012023-03-3111453099ns14:PoundSterlingns10:Original2022-08-012023-03-3111453099ns10:Originalns10:Director12022-08-012023-03-3111453099ns10:Original2022-08-012023-03-3111453099ns10:Original2023-03-3111453099ns10:Originalns10:PrivateLimitedCompanyLtd2022-08-012023-03-3111453099ns10:Originalns10:SmallEntities2022-08-012023-03-3111453099ns10:Originalns10:AuditExempt-NoAccountantsReport2022-08-012023-03-3111453099ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-03-3111453099ns10:SmallCompaniesRegimeForAccountsns10:Original2022-08-012023-03-3111453099ns10:Originalns10:FullAccounts2022-08-012023-03-3111453099ns10:Original12022-08-012023-03-3111453099ns10:EntityHasNeverTradedns10:Original2022-08-012023-03-3111453099ns10:Originalns10:Director22022-08-012023-03-3111453099ns10:Originalns10:Director32022-08-012023-03-3111453099ns10:Originalns10:Director42022-08-012023-03-3111453099ns10:Originalns10:Director52022-08-012023-03-3111453099ns10:Originalns10:Director62022-08-012023-03-3111453099ns10:Originalns10:Director72022-08-012023-03-3111453099ns10:Originalns10:RegisteredOffice2022-08-012023-03-3111453099ns10:Original2022-07-3111453099ns10:Originalns5:CurrentFinancialInstruments2023-03-3111453099ns10:Originalns5:CurrentFinancialInstruments2022-07-3111453099ns5:ShareCapitalns10:Original2023-03-3111453099ns5:ShareCapitalns10:Original2022-07-3111453099ns10:Originalns5:RevaluationReserve2023-03-3111453099ns10:Originalns5:RevaluationReserve2022-07-3111453099ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3111453099ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3111453099ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-08-012023-03-3111453099ns10:Originalns5:ComputerSoftware2022-08-012023-03-3111453099ns10:Original2021-08-012022-07-3111453099ns10:Originalns5:ComputerSoftware2022-07-3111453099ns10:Originalns5:ComputerSoftware2023-03-3111453099ns10:Originalns5:ComputerSoftware2022-07-3111453099ns10:Originalns5:CostValuation2022-07-3111453099ns10:Originalns5:AdditionsToInvestments2023-03-3111453099ns10:Originalns5:CostValuation2023-03-3111453099ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3111453099ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-3111453099ns10:Originalns10:Director222022-07-3111453099ns10:Originalns10:Director222021-07-3111453099ns10:Originalns10:Director222022-08-012023-03-3111453099ns10:Originalns10:Director222021-08-012022-07-3111453099ns10:Originalns10:Director222023-03-3111453099ns10:Originalns10:Director222022-07-3111453099ns10:Original1ns10:Director12022-07-3111453099ns10:Original1ns10:Director12021-07-3111453099ns10:Original1ns10:Director12022-08-012023-03-3111453099ns10:Original1ns10:Director12021-08-012022-07-3111453099ns10:Original1ns10:Director12023-03-3111453099ns10:Original1ns10:Director12022-07-3111453099ns10:Originalns10:Director442022-07-3111453099ns10:Originalns10:Director442021-07-3111453099ns10:Originalns10:Director442022-08-012023-03-3111453099ns10:Originalns10:Director442021-08-012022-07-3111453099ns10:Originalns10:Director442023-03-3111453099ns10:Originalns10:Director442022-07-3111453099ns10:Original5ns10:Director52022-07-3111453099ns10:Original5ns10:Director52021-07-3111453099ns10:Original5ns10:Director52022-08-012023-03-3111453099ns10:Original5ns10:Director52021-08-012022-07-3111453099ns10:Original5ns10:Director52023-03-3111453099ns10:Original5ns10:Director52022-07-31
REGISTERED NUMBER: 11453099 (England and Wales)
















EVOAI Limited

Unaudited Financial Statements

for the Period 1st August 2022 to 31st March 2023






EVOAI Limited (Registered number: 11453099)






Contents of the Financial Statements
for the Period 1st August 2022 to 31st March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


EVOAI Limited

Company Information
for the Period 1st August 2022 to 31st March 2023







Directors: Mr M A Iandoli
Mr S P Moore
Mr D L Shepherd
Mr C R Calder
Mr S J Norris
Mr S Rae
Mr D Rae





Registered office: 4th Floor
100 Fenchurch Street
London
EC3M 5JD





Registered number: 11453099 (England and Wales)





Accountants: Wilson Stevens
Accountants
4th Floor
100 Fenchurch Street
London
EC3M 5JD

EVOAI Limited (Registered number: 11453099)

Statement of Financial Position
31st March 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 1,530,000 1,930,000
Investments 5 1,525,600 886,000
3,055,600 2,816,000

Current assets
Debtors 6 39,812 2,447
Cash at bank 87,511 169,589
127,323 172,036
Creditors
Amounts falling due within one year 7 19,365 70,083
Net current assets 107,958 101,953
Total assets less current liabilities 3,163,558 2,917,953

Capital and reserves
Called up share capital 1,575 1,388
Share premium 1,786,743 1,025,933
Revaluation reserve 1,999,999 1,999,999
Retained earnings (624,759 ) (109,367 )
3,163,558 2,917,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 2023 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 2nd October 2023 and were signed on its behalf by:



Mr D L Shepherd - Director


EVOAI Limited (Registered number: 11453099)

Notes to the Financial Statements
for the Period 1st August 2022 to 31st March 2023

1. Statutory information

EVOAI 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.

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 as modified by the revaluation of certain assets.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. Employees and directors

The average number of employees during the period was 6 (2022 - 6 ) .

EVOAI Limited (Registered number: 11453099)

Notes to the Financial Statements - continued
for the Period 1st August 2022 to 31st March 2023

4. Intangible fixed assets
Computer
software
£   
Cost or valuation
At 1st August 2022
and 31st March 2023 2,000,000
Amortisation
At 1st August 2022 70,000
Amortisation for period 400,000
At 31st March 2023 470,000
Net book value
At 31st March 2023 1,530,000
At 31st July 2022 1,930,000

Cost or valuation at 31st March 2023 is represented by:

Computer
software
£   
Valuation in 2022 1,824,999
Cost 175,001
2,000,000

The IP has been revalued in the year to £2,000,000 based on its current and future value supported by equity investment valuations.

5. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1st August 2022 886,000
Additions 639,600
At 31st March 2023 1,525,600
Net book value
At 31st March 2023 1,525,600
At 31st July 2022 886,000

EVOAI Limited (Registered number: 11453099)

Notes to the Financial Statements - continued
for the Period 1st August 2022 to 31st March 2023

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Amounts owed by group undertakings - 1,332
Other debtors 39,812 1,115
39,812 2,447

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors - 3,895
Amounts owed to group undertakings 19,365 -
Taxation and social security - 4,343
Other creditors - 61,845
19,365 70,083

8. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the period ended 31st March 2023 and the year ended 31st July 2022:

2023 2022
£    £   
Mr M A Iandoli
Balance outstanding at start of period 300 -
Amounts advanced - 300
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 300

Mr D L Shepherd
Balance outstanding at start of period 250 -
Amounts advanced - 250
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 250

Mr C R Calder
Balance outstanding at start of period 225 -
Amounts advanced - 225
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 225

EVOAI Limited (Registered number: 11453099)

Notes to the Financial Statements - continued
for the Period 1st August 2022 to 31st March 2023

8. Directors' advances, credits and guarantees - continued

Mr S J Norris
Balance outstanding at start of period 225 -
Amounts advanced - 225
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 225