Evenkeel Europe Limited (Formerly Cirba Europe Limited)
Financial Statements
For the year ended 31 October 2022
Pages for Filing with Registrar
Company Registration No. 06606132 (England and Wales)
Evenkeel Europe Limited (formerly Cirba Europe Limited)
Evenkeel Europe Limited (Formerly Cirba Europe Limited)
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Evenkeel Europe Limited (Formerly Cirba Europe Limited)
Balance Sheet
As at 31 October 2022
Page 1
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
153,406
85,885
Cash at bank and in hand
16,567
23,266
169,973
109,151
Creditors: amounts falling due within one year
4
(76,956)
(34,345)
Net current assets
93,017
74,806
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
93,016
74,805
Total equity
93,017
74,806
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 October 2023 and are signed on its behalf by:
G Smith
Director
Company Registration No. 06606132
Evenkeel Europe Limited (formerly Cirba Europe Limited)
Evenkeel Europe Limited (Formerly Cirba Europe Limited)
Notes to the Financial Statements
For the year ended 31 October 2022
Page 2
1
Accounting policies
Company information
Evenkeel Europe Limited (formerly Cirba Europe Limited) is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.
1.1
Accounting convention
These financial statements have been prepared in accordance with section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The directors have carefully considered the impacts truecurrent economic climate on the business and the group as a whole and continue to do so on a regular basis so that any required action an be taken. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
Basic financial instruments are measured at amortised cost. The company has no other financial instruments or basic financial instruments measured at fair value.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Evenkeel Europe Limited (formerly Cirba Europe Limited)
Evenkeel Europe Limited (Formerly Cirba Europe Limited)
Notes to the Financial Statements (Continued)
For the year ended 31 October 2022
1
Accounting policies
(Continued)
Page 3
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
4
3
Evenkeel Europe Limited (formerly Cirba Europe Limited)
Evenkeel Europe Limited (Formerly Cirba Europe Limited)
Notes to the Financial Statements (Continued)
For the year ended 31 October 2022
Page 4
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
153,390
85,225
Other debtors
16
660
153,406
85,885
4
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
4,272
2,385
Other taxation and social security
20,825
12,181
Accruals and deferred income
51,859
19,779
76,956
34,345
5
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Share of £1 each
1
1
1
1
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Rebecca Shields
Statutory Auditor:
Moore Kingston Smith LLP
7
Related party transactions
The company has taken advantage of the exemption available under FRS 102 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
8
Events after the reporting date
In July 2023, Evenkeel Europe Limited (formerly Cirba Europe Limited) was acquired by Evenkeel Incorporated.
Evenkeel Europe Limited (formerly Cirba Europe Limited)
Evenkeel Europe Limited (Formerly Cirba Europe Limited)
Notes to the Financial Statements (Continued)
For the year ended 31 October 2022
Page 5
9
Parent company
The ultimate parent company is Evenkeel Incorporated, a company registered in Canada.