1 February 2023 v2024.21.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP086501102023-02-012024-01-31086501102024-01-31086501102023-01-3108650110core:WithinOneYear2024-01-3108650110core:WithinOneYear2023-01-3108650110core:AfterOneYear2024-01-3108650110core:AfterOneYear2023-01-3108650110core:ShareCapital2024-01-3108650110core:ShareCapital2023-01-3108650110core:RetainedEarningsAccumulatedLosses2024-01-3108650110core:RetainedEarningsAccumulatedLosses2023-01-3108650110bus:Director12023-02-012024-01-3108650110bus:RegisteredOffice2023-02-012024-01-3108650110core:FurnitureFittingsToolsEquipment2023-02-012024-01-3108650110core:MotorVehicles2023-02-012024-01-31086501102022-02-012023-01-3108650110core:IntangibleAssetsOtherThanGoodwill2024-01-3108650110core:IntangibleAssetsOtherThanGoodwill2023-01-3108650110core:PlantMachinery2023-02-0108650110core:PlantMachinery2023-02-012024-01-3108650110core:PlantMachinery2024-01-3108650110core:PlantMachinery2023-01-310865011012023-02-012024-01-3108650110countries:EnglandWales2023-02-012024-01-3108650110bus:AuditExemptWithAccountantsReport2023-02-012024-01-3108650110bus:PrivateLimitedCompanyLtd2023-02-012024-01-3108650110bus:SmallEntities2023-02-012024-01-3108650110bus:FullAccounts2023-02-012024-01-31
Company registration number:
08650110
Evaframe Limited
Unaudited Filleted Financial Statements for the year ended
31 January 2024
Evaframe Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Evaframe Limited
Year ended
31 January 2024
As described on the statement of financial position, the Board of Directors of
Evaframe Limited
are responsible for the preparation of the
financial statements
for the year ended
31 January 2024
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Hughes Isaac & Co
Office 7
Castlegate Business Park
Caldicot
Monmouthshire
NP26 5AD
United Kingdom
Date:
16 May 2024
Evaframe Limited
Statement of Financial Position
31 January 2024
20242023
Note££
Fixed assets    
Intangible assets 5
10,000
 
10,000
 
Tangible assets 6
263,712
 
275,918
 
273,712
 
285,918
 
Current assets    
Stocks
129,165
 
197,253
 
Debtors 7
637,127
 
469,321
 
Cash at bank and in hand
151,364
 
373,363
 
917,656
 
1,039,937
 
Creditors: amounts falling due within one year 8
(968,202
)
(761,200
)
Net current (liabilities)/assets
(50,546
)
278,737
 
Total assets less current liabilities 223,166   564,655  
Creditors: amounts falling due after more than one year 9
(162,024
)
(235,770
)
Net assets
61,142
 
328,885
 
Capital and reserves    
Called up share capital
500
 
500
 
Profit and loss account
60,642
 
328,385
 
Shareholders funds
61,142
 
328,885
 
For the year ending
31 January 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
16 May 2024
, and are signed on behalf of the board by:
Jonathan Thomas
Director
Company registration number:
08650110
Evaframe Limited
Notes to the Financial Statements
Year ended
31 January 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 2
,
Leeway Industrial Estate
,
Newport
,
NP19 4SL
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
25% reducing balance
Motor vehicles
25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.
Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.
The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
32
(2023:
34.00
).

5 Intangible assets

Other intangible assets
£
Cost  
At
1 February 2023
and
31 January 2024
10,000
 
Amortisation  
At
1 February 2023
and
31 January 2024
-  
Carrying amount  
At
31 January 2024
10,000
 
At 31 January 2023
10,000
 

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 February 2023
548,649
 
Additions
91,377
 
Disposals
(30,041
)
At
31 January 2024
609,985
 
Depreciation  
At
1 February 2023
272,731
 
Charge
87,903
 
Disposals
(14,361
)
At
31 January 2024
346,273
 
Carrying amount  
At
31 January 2024
263,712
 
At 31 January 2023
275,918
 

7 Debtors

20242023
££
Trade debtors
348,564
 
452,191
 
Other debtors
288,563
 
17,130
 
637,127
 
469,321
 

8 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
30,244
 
58,956
 
Trade creditors
551,542
 
375,496
 
Taxation and social security
205,906
 
228,268
 
Other creditors
180,510
 
98,480
 
968,202
 
761,200
 
Includes £12,180 in respect of Barclays Bank loan personally guaranteed by the director.

9 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
117,880
 
148,738
 
Other creditors
44,144
 
87,032
 
162,024
 
235,770
 
Includes £5,075 in respect of Barclays Bank loan personally guaranteed by the director.