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REGISTERED NUMBER: 04456872 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Evertaut Ltd

Evertaut Ltd (Registered number: 04456872)






Contents of the Financial Statements
for the year ended 31 October 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Evertaut Ltd

Company Information
for the year ended 31 October 2023







DIRECTORS: C Smalley
Mrs N Smalley



REGISTERED OFFICE: Unit 3 Lions Drive
Shadsworth Business Park
Blackburn
Lancashire
BB1 2QS



REGISTERED NUMBER: 04456872 (England and Wales)



ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP



BANKERS: HSBC
60 Church Street
Blackburn
Lancashire
BB1 5AS

Evertaut Ltd (Registered number: 04456872)

Abridged Balance Sheet
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,009,360 993,393

CURRENT ASSETS
Stocks 170,862 209,679
Debtors 195,810 273,431
Cash at bank and in hand 151,600 21,396
518,272 504,506
CREDITORS
Amounts falling due within one year 347,548 321,510
NET CURRENT ASSETS 170,724 182,996
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,180,084

1,176,389

CREDITORS
Amounts falling due after more than one
year

(19,062

)

(29,098

)

PROVISIONS FOR LIABILITIES (111,702 ) (107,834 )
NET ASSETS 1,049,320 1,039,457

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Revaluation reserve 8 343,493 348,474
Capital redemption reserve 1,000 1,000
Retained earnings 703,827 688,983
SHAREHOLDERS' FUNDS 1,049,320 1,039,457

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Evertaut Ltd (Registered number: 04456872)

Abridged Balance Sheet - continued
31 October 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 January 2024 and were signed on its behalf by:





Mrs N Smalley - Director


Evertaut Ltd (Registered number: 04456872)

Notes to the Financial Statements
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Evertaut 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.

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 as modified by the revaluation of certain assets.

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

The company manufactures and sells a range of office and educational furniture, design and installation of auditorium seating and tiered flooring systems.

Delivery occurs when the goods have been shipped to the location specified by the customer, the risks of obsolescence or loss have been transferred to the customer, the customer has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed or the company has objective evidence that all criteria for acceptance have been satisfied. Goods sold to wholesalers are often sold with volume rebates and also with the provision for the wholesale customer to return faulty goods. Sales are measured at the prices specified in the sale contract, net of estimated volume rebates and returns. Volume rebates are assessed based on anticipated annual purchases. Accumulated experience is used to estimate and provide for the discounts and returns. Sales are normally made with a credit term of 60 days. The element of financing is deemed immaterial and is disregarded in the measurement of revenue.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% on cost or valuation
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.


Evertaut Ltd (Registered number: 04456872)

Notes to the Financial Statements - continued
for the year ended 31 October 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 November 2022 1,112,413
Additions 32,875
At 31 October 2023 1,145,288
DEPRECIATION
At 1 November 2022 119,020
Charge for year 16,908
At 31 October 2023 135,928
NET BOOK VALUE
At 31 October 2023 1,009,360
At 31 October 2022 993,393

Evertaut Ltd (Registered number: 04456872)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

4. TANGIBLE FIXED ASSETS - continued

Included in cost or valuation of land and buildings is freehold land of £ 482,553 (2022 - £ 466,796 ) which is not depreciated.

Cost or valuation at 31 October 2023 is represented by:

Totals
£   
Valuation in 2023 446,762
Cost 698,526
1,145,288

If freehold property had not been revalued it would have been included at the following historical cost:

31/10/23 31/10/22
£    £   
Cost 518,994 503,238
Aggregate depreciation 93,629 88,439

Value of land in freehold land and buildings 482,553 466,796

Freehold property was valued on an open market basis on 28 September 2022 by Duxbury Commercial .

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/10/23 31/10/22
£    £   
Between one and five years 2,064 3,096

6. SECURED DEBTS

The following secured debts are included within creditors:

31/10/23 31/10/22
£    £   
Bank loans 29,097 42,556

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31/10/23 31/10/22
value: £    £   
1,000 Ordinary £1 1,000 1,000

Evertaut Ltd (Registered number: 04456872)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

8. RESERVES
Revaluation
reserve
£   
At 1 November 2022 348,474
Freehold property revaluation (4,981 )

At 31 October 2023 343,493

9. OTHER FINANCIAL COMMITMENTS

The company has entered into arrangements to guarantee the bank loan and other borrowings of the parent entity with a floating charge that covers all the property or undertaking of the company.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Evertaut Holdings Ltd.