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REGISTERED NUMBER: 05239679 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

EVOLVE BUSINESS SERVICES LTD

EVOLVE BUSINESS SERVICES LTD (REGISTERED NUMBER: 05239679)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


EVOLVE BUSINESS SERVICES LTD

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTORS: Miss G L Donaldson
C J Donaldson
Miss N M Donaldson
Mrs V Forshaw
I Smith





SECRETARY: Mrs V Forshaw





REGISTERED OFFICE: The Threlfall Building
Trueman Street
Liverpool
Merseyside
L3 2BA





REGISTERED NUMBER: 05239679 (England and Wales)





AUDITORS: Fairhurst
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

EVOLVE BUSINESS SERVICES LTD (REGISTERED NUMBER: 05239679)

STATEMENT OF FINANCIAL POSITION
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 429,719 435,852
Investments 5 260,000 260,000
689,719 695,852

CURRENT ASSETS
Debtors 6 24,153 19,328
Cash at bank 138,608 114,478
162,761 133,806
CREDITORS
Amounts falling due within one year 7 11,548 11,648
NET CURRENT ASSETS 151,213 122,158
TOTAL ASSETS LESS CURRENT
LIABILITIES

840,932

818,010

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Capital redemption reserve 9 799,999 799,999
Retained earnings 9 39,933 17,011
SHAREHOLDERS' FUNDS 840,932 818,010

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 February 2024 and were signed on its behalf by:





I Smith - Director


EVOLVE BUSINESS SERVICES LTD (REGISTERED NUMBER: 05239679)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Evolve Business Services Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its debts for the foreseeable future not limited to a period of 12 months from the signing of these accounts. The company therefore continues to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Depreciation and residual values

The directors have reviewed the asset lives and associated residual values of all fixed asset classes, and in particular, the useful economic life and residual values of freehold property and fixtures and fittings, and have concluded that the asset lives and residual values are appropriate.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 1% straight line

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

Financial instruments
The following assets and liabilities are classed as financial instruments - related party loans, directors' loans and trade creditors.

Directors' loans (being repayable on demand) are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Trade creditors are measured at transaction price.

Other loans including related party loans are initially measured at fair value and are measured subsequently at amortised cost using the effective interest method.


EVOLVE BUSINESS SERVICES LTD (REGISTERED NUMBER: 05239679)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
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 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 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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 August 2022
and 31 July 2023 613,243
DEPRECIATION
At 1 August 2022 177,391
Charge for year 6,133
At 31 July 2023 183,524
NET BOOK VALUE
At 31 July 2023 429,719
At 31 July 2022 435,852

EVOLVE BUSINESS SERVICES LTD (REGISTERED NUMBER: 05239679)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2022
and 31 July 2023 260,000
NET BOOK VALUE
At 31 July 2023 260,000
At 31 July 2022 260,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 8,853 4,500
Other debtors 111 -
VAT 22 11
Prepayments and accrued income 15,167 14,817
24,153 19,328

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings - 2,033
Tax 4,976 2,839
Social security and other taxes 2,502 2,462
Other creditors - 13
Accrued expenses 4,070 4,301
11,548 11,648

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
260 A Shares £1 260 260
250 B Shares £1 250 250
240 C Shares £1 240 240
250 D Shares £1 250 250
1,000 1,000

EVOLVE BUSINESS SERVICES LTD (REGISTERED NUMBER: 05239679)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 August 2022 17,011 799,999 817,010
Profit for the year 102,922 102,922
Dividends (80,000 ) (80,000 )
At 31 July 2023 39,933 799,999 839,932

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Louise Webster BSc BFP ACA (Senior Statutory Auditor)
for and on behalf of Fairhurst

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12. ULTIMATE CONTROLLING PARTY

By virtue of their shareholdings in the ultimate parent company, Sysco Management Services Limited , the Donaldson family control the company.