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Registration number: 06733994

Evelyn Grace Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Evelyn Grace Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5 to 6

Notes to the Unaudited Financial Statements

7 to 14

Detailed Profit and Loss Account

15 to 17

 

Evelyn Grace Limited

Company Information

Directors

Mr P Devenny

Mrs E Devenny

Registered office

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

 

Evelyn Grace Limited

Directors' Report for the Year Ended 31 October 2023

The directors present their report and the financial statements for the year ended 31 October 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr P Devenny

Mrs E Devenny

Principal activity

The principal activity of the company is the provision of home care services.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 31 July 2024 and signed on its behalf by:

.........................................
Mr P Devenny
Director

.........................................
Mrs E Devenny
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Evelyn Grace Limited
for the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Evelyn Grace Limited for the year ended 31 October 2023 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Evelyn Grace Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Evelyn Grace Limited and state those matters that we have agreed to state to the Board of Directors of Evelyn Grace Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Evelyn Grace Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Evelyn Grace Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Evelyn Grace Limited. You consider that Evelyn Grace Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Evelyn Grace Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

31 July 2024

 

Evelyn Grace Limited

Profit and Loss Account for the Year Ended 31 October 2023

Note

2023
£

2022
£

Turnover

 

432,767

594,775

Cost of sales

 

(291,170)

(364,133)

Gross profit

 

141,597

230,642

Administrative expenses

 

(91,763)

(116,428)

Other operating income

 

13

6,028

Operating profit

 

49,847

120,242

Other interest receivable and similar income

 

68

98

Interest payable and similar expenses

 

(784)

(1,031)

   

(716)

(933)

Profit before tax

4

49,131

119,309

Tax on profit

 

(9,381)

(22,679)

Profit for the financial year

 

39,750

96,630

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Evelyn Grace Limited

(Registration number: 06733994)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

772

1,248

Current assets

 

Debtors

6

29,478

31,042

Cash at bank and in hand

 

77,537

173,971

 

107,015

205,013

Creditors: Amounts falling due within one year

7

(27,235)

(43,120)

Net current assets

 

79,780

161,893

Total assets less current liabilities

 

80,552

163,141

Creditors: Amounts falling due after more than one year

7

(15,833)

(25,830)

Provisions for liabilities

(193)

(237)

Net assets

 

64,526

137,074

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

64,524

137,072

Shareholders' funds

 

64,526

137,074

 

Evelyn Grace Limited

(Registration number: 06733994)
Balance Sheet as at 31 October 2023

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
Mr P Devenny
Director

.........................................
Mrs E Devenny
Director

 

Evelyn Grace Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF
United Kingdom

The principal place of business is:
68 Acorn Gardens
Burghfield Common
Reading
Berkshire
RG7 3GN
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

 

Evelyn Grace Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Evelyn Grace Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% on reducing balance

Office equipment

25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Evelyn Grace Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2022 - 32).

 

Evelyn Grace Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

476

689

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

6,805

6,805

At 31 October 2023

6,805

6,805

Depreciation

At 1 November 2022

5,557

5,557

Charge for the year

476

476

At 31 October 2023

6,033

6,033

Carrying amount

At 31 October 2023

772

772

At 31 October 2022

1,248

1,248

6

Debtors

Current

2023
£

2022
£

Trade debtors

23,309

24,233

Prepayments

1,064

395

Other debtors

5,105

6,414

 

29,478

31,042

 

Evelyn Grace Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

10,000

10,000

Trade creditors

 

920

973

Taxation and social security

 

11,898

27,364

Accruals and deferred income

 

2,714

2,806

Other creditors

 

1,703

1,977

 

27,235

43,120


Creditors include bank loans and net obligations which are secured by the Government of £10,000 (2022 - £10,000).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

15,833

25,830


Creditors include bank loans and net obligations which are secured by the Government of £15,833 (2022 - £25,830).

 

Evelyn Grace Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Later than one year and not later than five years

-

4,842

The amount of non-cancellable operating lease payments recognised as an expense during the year was £270 (2022 - £8,844).

10

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Mr P Devenny

(397)

2,029

(2,014)

(382)

 

Evelyn Grace Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

11

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

15,833

25,830

Current loans and borrowings

2023
£

2022
£

Other borrowings

10,000

10,000

 

Evelyn Grace Limited

Detailed Profit and Loss Account for the Year Ended 31 October 2023

2023
£

2022
£

Turnover (analysed overleaf)

432,767

594,775

Cost of sales (analysed overleaf)

291,170

364,133

Gross profit

141,597

230,642

Gross profit (%)

32.72%

38.78%

Administrative expenses

Employment costs (analysed overleaf)

18,066

20,952

Establishment costs (analysed overleaf)

10,144

5,968

General administrative expenses (analysed overleaf)

61,809

87,952

Finance charges (analysed overleaf)

1,268

867

Depreciation costs (analysed overleaf)

476

689

91,763

116,428

Other operating income (analysed below)

13

6,028

Operating profit

49,847

120,242

Other interest receivable and similar income (analysed overleaf)

(68)

(98)

Interest payable and similar expenses (analysed overleaf)

784

1,031

716

933

Profit before tax

49,131

119,309

 

Evelyn Grace Limited

Detailed Profit and Loss Account for the Year Ended 31 October 2023

2023
£

2022
£

   

Turnover

Sales

432,767

586,122

Grants and subsidies

-

8,653

432,767

594,775

   

Cost of sales

Purchases

961

5,224

Wages and salaries

273,733

329,686

Staff NIC

10,295

19,489

Staff pensions

5,176

6,308

Staff training

1,005

3,426

291,170

364,133

   

Employment costs

Directors remuneration

17,778

20,270

Directors NIC

-

448

Directors pensions

288

234

18,066

20,952

   

Establishment costs

Insurance

9,832

5,656

Use of home as office

312

312

10,144

5,968

   

General administrative expenses

Telephone

1,621

2,162

Computer software and maintenance costs

3,694

2,390

Printing, postage and stationery

1,966

2,008

Trade subscriptions

300

300

Lease of motor vehicles

270

8,844

Sundry expenses

541

1,124

Travel and subsistence

33,890

42,499

Advertising

7,765

16,759

Staff entertaining

-

450

 

Evelyn Grace Limited

Detailed Profit and Loss Account for the Year Ended 31 October 2023

2023
£

2022
£

   

Accountancy fees

6,436

5,449

Legal and professional fees

3,285

5,524

Bad debts written off

2,041

443

61,809

87,952

   

Finance charges

Bank charges

1,268

867

   

Depreciation costs

Depreciation of fixtures and fittings

217

288

Depreciation of office equipment

259

401

476

689

   

Other operating income

Other income

13

6,028

   

Other interest receivable and similar income

Bank interest receivable

68

98

   

Interest payable and similar expenses

Other loan interest

784

1,031