Company Registration No. 13612299 (England and Wales)
Evolve Refurbishments Ltd
Unaudited accounts
for the year ended 30 September 2023
Evolve Refurbishments Ltd
Unaudited accounts
Contents
Evolve Refurbishments Ltd
Company Information
for the year ended 30 September 2023
Directors
Rebecca Rousseau
Luke Rousseau
Company Number
13612299 (England and Wales)
Registered Office
C/O Hybrid Premium Ltd
110 Newbury Gardens
Epsom
Surrey
KT19 0PD
United Kingdom
Accountants
Hybrid Premium LTD
110 Newbury Gardens
Stoneleigh
Epsom
Surrey
KT19 0PD
Evolve Refurbishments Ltd
Statement of financial position
as at 30 September 2023
Investment property
853,000
830,000
Cash at bank and in hand
1,138
32,796
Creditors: amounts falling due within one year
(168,117)
(193,890)
Net current liabilities
(148,153)
(150,660)
Total assets less current liabilities
704,847
679,340
Creditors: amounts falling due after more than one year
(812,337)
(792,348)
Provisions for liabilities
Net liabilities
(110,632)
(113,008)
Called up share capital
100
100
Profit and loss account
(110,732)
(113,108)
Shareholders' funds
(110,632)
(113,008)
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2024 and were signed on its behalf by
Rebecca Rousseau
Director
Company Registration No. 13612299
Evolve Refurbishments Ltd
Notes to the Accounts
for the year ended 30 September 2023
Evolve Refurbishments Ltd is a private company, limited by shares, registered in England and Wales, registration number 13612299. The registered office is C/O Hybrid Premium Ltd, 110 Newbury Gardens, Epsom, Surrey, KT19 0PD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 September 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 9 September 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 October 2022
830,000
Net gain from fair value adjustments
23,000
At 30 September 2023
853,000
Investment Properties are revalued at the end of each company year.
Amounts falling due within one year
Deferred tax asset
-
2,608
Other debtors
18,826
7,826
Evolve Refurbishments Ltd
Notes to the Accounts
for the year ended 30 September 2023
6
Creditors: amounts falling due within one year
2023
2022
Loans from directors
157,100
157,100
Deferred income
8,689
34,756
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
592,337
592,348
Other creditors
220,000
200,000
At year-end the company owed.
Pepper Mortgage £361,603.00 interest-only rate of 3.23% p.a for a 25-year term.
The Mortgage Works £230,734.00 interest-only rate of 2.99% p.a for a 25-year term.
The mortgages are secured against each investment property.
At year-end, Evolve Refurbishments Ltd owed GB Solutions Maintenance Solutions Ltd £200,000.00.
Loan 1 - £150,000, an unsecured loan for 25 years, interest-only rate of 2%
Loan 2 - £50,0000, an unsecured loan for 25 years, interest-only rate of 2%
Loan 2 - £20,000, an unsecured loan for 25 years, interest-only rate of 2.25%
At company year-end, the directors were owed by the company £78,550.00 each.
9
Transactions with related parties
At year-end, Evolve Refurbishments Ltd owed GB Solutions Maintenance Solutions Ltd £200,000.00.
Loan 1 - £150,000, an unsecured loan for 25 years, interest-only rate of 2%
Loan 2 - £50,0000, an unsecured loan for 25 years, interest-only rate of 2%
Loan 2 - £20,000, an unsecured loan for 25 years, interest-only rate of 2.25%
GB Maintenance Solutions Ltd is 100% controlled by Mr and Mrs Rousseau.
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).