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REGISTERED NUMBER: 06920065 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Evolution Industrial Limited

Evolution Industrial Limited (Registered number: 06920065)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Evolution Industrial Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: D Winfield
D C Watson





REGISTERED OFFICE: Barclays Chambers
19-21 Market Place
Mansfield
Nottinghamshire
NG18 1HR





REGISTERED NUMBER: 06920065 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
25 Brunts Street
Mansfield
Nottinghamshire
NG18 1AX

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Evolution Industrial Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Evolution Industrial Limited for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Evolution Industrial 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 Evolution Industrial Limited. You consider that Evolution Industrial 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 Evolution Industrial 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
25 Brunts Street
Mansfield
Nottinghamshire
NG18 1AX


10 November 2023

Evolution Industrial Limited (Registered number: 06920065)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 11,356 5,410
11,356 5,410

CURRENT ASSETS
Debtors 6 224,376 884,032
Cash at bank and in hand 263,475 438,396
487,851 1,322,428
CREDITORS
Amounts falling due within one year 7 265,104 1,073,753
NET CURRENT ASSETS 222,747 248,675
TOTAL ASSETS LESS CURRENT
LIABILITIES

234,103

254,085

CREDITORS
Amounts falling due after more than one
year

8

(20,753

)

(42,500

)

PROVISIONS FOR LIABILITIES (2,158 ) -
NET ASSETS 211,192 211,585

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 211,190 211,583
SHAREHOLDERS' FUNDS 211,192 211,585

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 10 November 2023 and were signed on its behalf by:




D Winfield - Director


Evolution Industrial Limited (Registered number: 06920065)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Evolution Industrial 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer and office equipment - 25% on reducing balance and 20% on cost

Financial instruments
Financial instruments are classified and accounted for in accordance with the substance of the contractual arrangement rather than their legal form as either financial assets, financial liabilities or equity instruments. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year 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 balance sheet date.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Evolution Industrial Limited (Registered number: 06920065)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 10,000
AMORTISATION
At 1 March 2022
and 28 February 2023 10,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Computer
and
office
equipment
£   
COST
At 1 March 2022 50,180
Additions 12,007
Disposals (45,179 )
At 28 February 2023 17,008
DEPRECIATION
At 1 March 2022 44,770
Charge for year 3,786
Eliminated on disposal (42,904 )
At 28 February 2023 5,652
NET BOOK VALUE
At 28 February 2023 11,356
At 28 February 2022 5,410

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 200,558 738,644
Other debtors 23,818 145,388
224,376 884,032

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,800 -
Trade creditors 10,464 5,390
Taxation and social security 43,071 305,218
Other creditors 200,769 763,145
265,104 1,073,753

Evolution Industrial Limited (Registered number: 06920065)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 20,753 42,500

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Debt factoring creditor 180,578 661,603

The trade debtors of the company have been used to provide security for the above debt.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
D Winfield
Balance outstanding at start of year 3,175 8,949
Amounts advanced 57,391 63,834
Amounts repaid (77,929 ) (69,608 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (17,363 ) 3,175

D C Watson
Balance outstanding at start of year 9,049 18,108
Amounts advanced 50,572 55,781
Amounts repaid (60,000 ) (64,840 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (379 ) 9,049

Interest is charged on loans over £10,000 at a rate of 2% per year.