8 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 36,277 5,417 41,694 12,598 7,274 19,872 21,822 23,679 xbrli:pure xbrli:shares iso4217:GBP SC550503 2023-01-01 2023-12-31 SC550503 2023-12-31 SC550503 2022-12-31 SC550503 2022-01-01 2022-12-31 SC550503 2022-12-31 SC550503 2021-12-31 SC550503 bus:Director2 2023-01-01 2023-12-31 SC550503 bus:Director3 2023-01-01 2023-12-31 SC550503 core:WithinOneYear 2023-12-31 SC550503 core:WithinOneYear 2022-12-31 SC550503 core:AfterOneYear 2023-12-31 SC550503 core:AfterOneYear 2022-12-31 SC550503 core:ShareCapital 2023-12-31 SC550503 core:ShareCapital 2022-12-31 SC550503 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC550503 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC550503 bus:SmallEntities 2023-01-01 2023-12-31 SC550503 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC550503 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC550503 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC550503 bus:FullAccounts 2023-01-01 2023-12-31 SC550503 core:Associate1 2023-01-01 2023-12-31 SC550503 core:Associate1 2022-01-01 2022-12-31 SC550503 core:Associate2 2023-01-01 2023-12-31 SC550503 core:Associate2 2022-01-01 2022-12-31 SC550503 core:ParentEntities 2023-01-01 2023-12-31 SC550503 core:ParentEntities 2022-01-01 2022-12-31 SC550503 core:OfficeEquipment 2023-01-01 2023-12-31 SC550503 core:OfficeEquipment 2022-12-31 SC550503 core:OfficeEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: SC550503
Evo Enterprises Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Evo Enterprises Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
21,822
23,679
Current assets
Debtors
6
70,216
47,631
Cash at bank and in hand
8,165
28,302
--------
--------
78,381
75,933
Creditors: amounts falling due within one year
7
57,464
32,213
--------
--------
Net current assets
20,917
43,720
--------
--------
Total assets less current liabilities
42,739
67,399
Creditors: amounts falling due after more than one year
8
11,929
20,349
Provisions
4,146
4,499
--------
--------
Net assets
26,664
42,551
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
26,564
42,451
--------
--------
Shareholder funds
26,664
42,551
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Evo Enterprises Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
D J Foster
A W Brewster
Director
Director
Company registration number: SC550503
Evo Enterprises Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Torus Building Unit 6, Rankine Avenue, East Kilbride, G75 0QF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2022: 9 ).
5. Tangible assets
Equipment
£
Cost
At 1 January 2023
36,277
Additions
5,417
--------
At 31 December 2023
41,694
--------
Depreciation
At 1 January 2023
12,598
Charge for the year
7,274
--------
At 31 December 2023
19,872
--------
Carrying amount
At 31 December 2023
21,822
--------
At 31 December 2022
23,679
--------
6. Debtors
2023
2022
£
£
Trade debtors
62,363
42,287
Other debtors
7,853
5,344
--------
--------
70,216
47,631
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
22,600
8,420
Trade creditors
16,559
14,263
Social security and other taxes
6,637
3,110
Other creditors
11,668
6,420
--------
--------
57,464
32,213
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
11,929
20,349
--------
--------
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
2023
2022
£
£
Fozco Ltd
84,000
76,000
AW Brewco Ltd
84,000
76,000
GlobalEVO Ltd
30,238
--------
--------
Control:- The company was under the control of the directors throughout the period under review. Transactions:- During the year the company received management services totalling £84,000 (2022: £76,000) from Fozco Ltd, a company incorporated in Scotland, and controlled by the Director D J Foster . During the year the company received management services totalling £84,000 (2022: £76,000) from AW Brewco Ltd, a company incorporated in Scotland, and controlled by the Director A W Brewster . During the previous year the company paid dividends to GlobalEVO Ltd, the company's parent undertaking, totalling £30,238.
10. Controlling party
The company's ultimate controlling party at the statement of financial position date was it's parent undertaking, GlobalEVO Ltd, a company incorporated in Scotland, and controlled by the directors.