IRIS Accounts Production v23.3.1.45 09102210 Board of Directors 1.7.22 30.6.23 30.6.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh091022102022-06-30091022102023-06-30091022102022-07-012023-06-30091022102021-06-30091022102021-07-012022-06-30091022102022-06-3009102210ns10:Originalns15:EnglandWales2022-07-012023-06-3009102210ns14:PoundSterlingns10:Original2022-07-012023-06-3009102210ns10:Originalns10:Director12022-07-012023-06-3009102210ns10:Original2022-07-012023-06-3009102210ns10:Original2023-06-3009102210ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3009102210ns10:Originalns10:SmallEntities2022-07-012023-06-3009102210ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3009102210ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3009102210ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3009102210ns10:Originalns10:FullAccounts2022-07-012023-06-3009102210ns10:Originalns10:Director22022-07-012023-06-3009102210ns10:Originalns10:RegisteredOffice2022-07-012023-06-3009102210ns10:Original2022-06-3009102210ns10:Originalns5:CurrentFinancialInstruments2023-06-3009102210ns10:Originalns5:CurrentFinancialInstruments2022-06-3009102210ns10:Originalns5:Non-currentFinancialInstruments2023-06-3009102210ns10:Originalns5:Non-currentFinancialInstruments2022-06-3009102210ns5:ShareCapitalns10:Original2023-06-3009102210ns5:ShareCapitalns10:Original2022-06-3009102210ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3009102210ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3009102210ns10:Original2021-07-012022-06-3009102210ns10:Originalns5:FurnitureFittings2022-06-3009102210ns10:Originalns5:ComputerEquipment2022-06-3009102210ns10:Original2022-06-3009102210ns10:Originalns5:FurnitureFittings2022-07-012023-06-3009102210ns10:Originalns5:ComputerEquipment2022-07-012023-06-3009102210ns10:Originalns5:FurnitureFittings2023-06-3009102210ns10:Originalns5:ComputerEquipment2023-06-3009102210ns10:Originalns5:FurnitureFittings2022-06-3009102210ns10:Originalns5:ComputerEquipment2022-06-3009102210ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3009102210ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3009102210ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-06-3009102210ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-06-30
REGISTERED NUMBER: 09102210 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Evolve Hospitality Ltd

Evolve Hospitality Ltd (Registered number: 09102210)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Evolve Hospitality Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mr V Sharma
Mrs K Sharma





REGISTERED OFFICE: Office 1 Hatherton Court
Hatherton Street
Walsall
WS4 2LA





REGISTERED NUMBER: 09102210 (England and Wales)





ACCOUNTANTS: Dhillon Accountants Limited
Chartered Accountants
Office 1
21 Hatherton Street
Walsall
WS4 2LA

Evolve Hospitality Ltd (Registered number: 09102210)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,855 891

CURRENT ASSETS
Debtors 5 2,436,823 277,860
Cash at bank 4,858,645 3,319,913
7,295,468 3,597,773
CREDITORS
Amounts falling due within one year 6 (2,176,330 ) (1,650,754 )
NET CURRENT ASSETS 5,119,138 1,947,019
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,123,993

1,947,910

CREDITORS
Amounts falling due after more than
one year

7

(17,349

)

(26,140

)

PROVISIONS FOR LIABILITIES (1,214 ) -
NET ASSETS 5,105,430 1,921,770

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5,105,330 1,921,670
SHAREHOLDERS' FUNDS 5,105,430 1,921,770

Evolve Hospitality Ltd (Registered number: 09102210)

Balance Sheet - continued
30 June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 28 March 2024 and were signed on its behalf by:





Mr V Sharma - Director


Evolve Hospitality Ltd (Registered number: 09102210)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Evolve Hospitality 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings25% straight line
Computer Equipment25% straight line


Evolve Hospitality Ltd (Registered number: 09102210)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

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 6 (2022 - 6 ) .

Evolve Hospitality Ltd (Registered number: 09102210)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022 440 2,937 3,377
Additions 1,167 3,614 4,781
At 30 June 2023 1,607 6,551 8,158
DEPRECIATION
At 1 July 2022 440 2,046 2,486
Charge for year 97 720 817
At 30 June 2023 537 2,766 3,303
NET BOOK VALUE
At 30 June 2023 1,070 3,785 4,855
At 30 June 2022 - 891 891

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 523,640 162,399
Other debtors 1,913,183 115,461
2,436,823 277,860

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 9,584 9,584
Trade creditors - 246,611
Taxation and social security 1,014,045 573,936
Other creditors 1,152,701 820,623
2,176,330 1,650,754

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 17,349 26,140

Evolve Hospitality Ltd (Registered number: 09102210)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.6.23 30.6.22
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 17,349 26,140

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company was owed the following amounts

£29,700 (2022 - £1,602) by New World Sourcing Limited.
£227,500 (2022: £0) by VS Hospitality Limited


Vijay sharma is the director and 100% shareholder of New World Sourcing Limited

Vijay Sharma is a 51% shareholder only in VS Hospitality Limited