2022-01-012022-12-312022-12-31false12165735EVEZY ASSETCO 1 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EVEZY ASSETCO 1 LIMITED

Registered Number
12165735
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2022

EVEZY ASSETCO 1 LIMITED
Company Information
for the year from 1 January 2022 to 31 December 2022

Director

JOLLY, Robert

Registered Address

Ailsa House
Wedgnock Lane
Warwick
CV34 5YA

Registered Number

12165735 (England and Wales)
EVEZY ASSETCO 1 LIMITED
Statement of Financial Position
31 December 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Tangible assets5403,6411,573,194
403,6411,573,194
Current assets
Debtors20,543266,345
Cash at bank and on hand14,6591,701
35,202268,046
Creditors amounts falling due within one year(68,495)(883,360)
Net current assets (liabilities)(33,293)(615,314)
Total assets less current liabilities370,348957,880
Net assets370,348957,880
Capital and reserves
Called up share capital100100
Profit and loss account370,248957,780
Shareholders' funds370,348957,880
The financial statements were approved and authorised for issue by the Director on 25 October 2023, and are signed on its behalf by:
JOLLY, Robert
Director
Registered Company No. 12165735
EVEZY ASSETCO 1 LIMITED
Notes to the Financial Statements
for the year ended 31 December 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. The following timing differences are not provided for: differences between accumulated depreciation and tax allowances for the cost of a fixed asset if and when all conditions for retaining the tax allowances have been met; and differences relating to investments in subsidiaries, to the extent that it is not probable that they will reverse in the foreseeable future and the reporting entity is able to control the reversal of the timing difference. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense. Deferred tax is provided in respect of the additional tax that will be paid or avoided on differences between the amount at which an asset (other than goodwill) or liability is recognised in a business combination and the corresponding amount that can be deducted or assessed for tax. Goodwill is adjusted by the amount of such deferred tax. Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that is it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Going concern
It remains the intention of the Directors to dispose of the remaining assets of the business within 12 months of signing the financial statements. The directors do not anticipate that the company will have any subsequent trade and therefore they intend that the company will become dormant. As a result, the financial statements have been prepared on a basis other than that of going concern. No adjustments arose as a result of changing the basis of preparation.
4.Employee information

20222021
Average number of employees during the year00
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 January 221,802,007
Disposals(1,376,725)
At 31 December 22425,282
Depreciation and impairment
At 01 January 22228,813
Charge for year14,246
On disposals(221,418)
At 31 December 2221,641
Net book value
At 31 December 22403,641
At 31 December 211,573,194
6.Description of event after reporting date
On the 11th of September 2023, the parent company, Onto Holdings Limited, went into administration. The collectibility of the intercompany debt of £937,177 is therefore in question and will likely end up in the final distribution of the business. A bad debt provision has been made against this in full.