Company registration number 5740899 (England and Wales)
E J EVANS & SON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
E J EVANS & SON LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 9
E J EVANS & SON LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF E J EVANS & SON LIMITED FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of E J Evans & Son Limited for the year ended 31 March 2023 which comprise, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of E J Evans & Son Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of E J Evans & Son Limited and state those matters that we have agreed to state to the board of directors of E J Evans & Son Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E J Evans & Son Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that E J Evans & Son Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of E J Evans & Son Limited. You consider that E J Evans & Son Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of E J Evans & Son Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

WBV Limited
30 August 2023
Chartered Accountants
Woodfield House
Castle Walk
Neath
SA11 3LN
E J EVANS & SON LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
2,500
Tangible assets
4
573,369
591,440
573,369
593,940
Current assets
Stocks
4,726
5,062
Debtors
5
147,195
105,991
Cash at bank and in hand
276,697
231,531
428,618
342,584
Creditors: amounts falling due within one year
6
(284,071)
(217,475)
Net current assets
144,547
125,109
Total assets less current liabilities
717,916
719,049
Creditors: amounts falling due after more than one year
7
(243,943)
(331,883)
Provisions for liabilities
(99,163)
(101,927)
Net assets
374,810
285,239
Capital and reserves
Called up share capital
9
2
2
Profit and loss reserves
374,808
285,237
Total equity
374,810
285,239

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

E J EVANS & SON LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 30 August 2023 and are signed on its behalf by:
Mr P Evans
Director
Company Registration No. 5740899
E J EVANS & SON LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2021
2
355,971
355,973
Year ended 31 March 2022:
Loss and total comprehensive income for the year
-
(10,734)
(10,734)
Dividends
-
(60,000)
(60,000)
Balance at 31 March 2022
2
285,237
285,239
Year ended 31 March 2023:
Profit and total comprehensive income for the year
-
149,571
149,571
Dividends
-
(60,000)
(60,000)
Balance at 31 March 2023
2
374,808
374,810
E J EVANS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
1
Accounting policies
Company information

E J Evans & Son 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.

1.1
Accounting convention

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.

1.2
Turnover

Turnover represents net invoiced services, excluding value added tax

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with a school contract purchased in 2018, is amortised evenly over its estimated useful life of five years

 

1.4
Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, which ever is shorter.

Improvements to Property
20% on cost
Plant and machinery
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Coaches
12.5% on cost
Motor vehicles
12.5% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The directors have revalued the fixed assets taken over from the business of EJ Evans & Son, at estimated market value. The revaluation reserve arising as a result of the revaluation is being written back to the profit and loss account over the useful lives of the relevant assets in line with the deprecation policy of the company

1.5
Stocks

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

 

1.6
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statements 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

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.

E J EVANS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 6 -
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.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

 

The interest element of these obligations is charged to profit and loss over the relevant period. The capital element of the future payments is treated as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
26
23
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
225,000
Amortisation and impairment
At 1 April 2022
222,500
Amortisation charged for the year
2,500
At 31 March 2023
225,000
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
2,500
E J EVANS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
4
Tangible fixed assets
Improvements to Property
Plant and machinery
Fixtures and fittings
Coaches
Motor vehicles
Total
£
£
£
£
£
£
Cost or valuation
At 1 April 2022
6,426
32,953
14,133
1,089,450
57,000
1,199,962
Additions
-
0
4,000
-
0
117,177
-
0
121,177
Disposals
-
0
-
0
-
0
(156,500)
-
0
(156,500)
At 31 March 2023
6,426
36,953
14,133
1,050,127
57,000
1,164,639
Depreciation and impairment
At 1 April 2022
4,284
23,256
9,730
564,127
7,125
608,522
Depreciation charged in the year
1,285
1,455
661
100,035
7,125
110,561
Eliminated in respect of disposals
-
0
-
0
-
0
(127,813)
-
0
(127,813)
At 31 March 2023
5,569
24,711
10,391
536,349
14,250
591,270
Carrying amount
At 31 March 2023
857
12,242
3,742
513,778
42,750
573,369
At 31 March 2022
2,142
9,697
4,403
525,323
49,875
591,440

Cost of valuation at 31 March 2023 is represented by:

 

Improvements Fixtures

to Plant & and Motor

property machinery fittings vehicles Coaches Totals

£ £ £ £ £ £

Valuation in 2007 - 6,976 2,458 - 65,646 75,080

Cost 6,426 29,977 11,675 57,000 984,481 1,089,559

6,426 36,953 14,133 57,000 1,050,127 1,164,639

 

Coaches were valued on an open market basis on 31 May 2006 by the directors.

 

The directors reviewed the values of Coaches at 31 March 2013 and consider that the net book value included in the accounts, based upon cost and valuation, reasonably reflects the values at 31 March 2013.

 

The net book value of tangible fixed assets includes £520,101 (2021 - £492,974) in respect of assets held under hire purchase contracts.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
127,240
82,878
Other debtors
19,955
23,113
147,195
105,991
E J EVANS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,690
15,862
Obligations under finance leases
8
144,272
116,395
Other borrowings
26,646
24,840
Trade creditors
16,642
16,476
Corporation tax
37,753
8,421
Other taxation and social security
8,758
7,051
Other creditors
28,839
18,308
Accruals and deferred income
11,471
10,122
284,071
217,475
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Obligations under finance leases
8
169,057
230,351
Other borrowings
74,886
101,532
243,943
331,883
8
Secured Debts
2023
2022
The following secured debts are included within creditors :
£
£
Hire Purchase Contracts
313,329
346,746
Amounts due under hire purchase contracts are secured by the assets to which the contract relates.
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2
10
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
1,770
-
0
E J EVANS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -
11
Control of the company

The Company is controlled by Mr E J Evans and Mr P Evans who are the Company's shareholders.

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