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Company No: 07327260 (England and Wales)

EVETT COST REDUCTION LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

EVETT COST REDUCTION LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

EVETT COST REDUCTION LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2023
EVETT COST REDUCTION LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2023
DIRECTOR Mrs S Isaacs
REGISTERED OFFICE 3B Salterton Road
Exmouth
EX8 2BW
United Kingdom
COMPANY NUMBER 07327260 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
EVETT COST REDUCTION LIMITED

BALANCE SHEET

As at 31 July 2023
EVETT COST REDUCTION LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,090 1,101
2,090 1,101
Current assets
Debtors 4 5,350 9,826
Cash at bank and in hand 117,028 184,998
122,378 194,824
Creditors: amounts falling due within one year 5 ( 15,985) ( 24,862)
Net current assets 106,393 169,962
Total assets less current liabilities 108,483 171,063
Net assets 108,483 171,063
Capital and reserves
Called-up share capital 6 90 90
Capital redemption reserve 10 10
Profit and loss account 108,383 170,963
Total shareholder's funds 108,483 171,063

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Evett Cost Reduction Limited (registered number: 07327260) were approved and authorised for issue by the Director on 01 February 2024. They were signed on its behalf by:

Mrs S Isaacs
Director
EVETT COST REDUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
EVETT COST REDUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Evett Cost Reduction Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3B Salterton Road, Exmouth, EX8 2BW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is gross sales, including VAT, less payments due to HMRC using the VAT Flat Rate Scheme and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight line basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 August 2022 9,572 9,572
Additions 1,884 1,884
At 31 July 2023 11,456 11,456
Accumulated depreciation
At 01 August 2022 8,471 8,471
Charge for the financial year 895 895
At 31 July 2023 9,366 9,366
Net book value
At 31 July 2023 2,090 2,090
At 31 July 2022 1,101 1,101

4. Debtors

2023 2022
£ £
Trade debtors 4,313 9,674
Other debtors 1,037 152
5,350 9,826

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 2,380
Amounts owed to director 2,728 3,732
Accruals 2,750 2,500
Taxation and social security 8,563 12,242
Other creditors 1,944 4,008
15,985 24,862

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
90 Ordinary shares of £ 1.00 each 90 90

7. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Balance brought forward (3,732) (3,862)
Advances to director during the year 1,684 (1,118)
Repayments by director during the year (681) 4,965