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REGISTERED NUMBER: 10779395 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2023

FOR

EVERGREEN SHUTTERS LIMITED

EVERGREEN SHUTTERS LIMITED (REGISTERED NUMBER: 10779395)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


EVERGREEN SHUTTERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







Director: C Haughton





Registered office: Apex House
Coldnose Road
Skylon Park
Hereford
HR2 6JL





Registered number: 10779395 (England and Wales)

EVERGREEN SHUTTERS LIMITED (REGISTERED NUMBER: 10779395)

BALANCE SHEET
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £ £ £ £
Fixed assets
Intangible assets 4 5,135 5,560
Tangible assets 5 124,503 83,008
129,638 88,568

Current assets
Stocks 6 370,216 422,856
Debtors 7 156,666 270,221
Cash at bank 245,169 263,551
772,051 956,628
Creditors
Amounts falling due within one year 8 1,939,776 1,871,904
Net current liabilities (1,167,725 ) (915,276 )
Total assets less current liabilities (1,038,087 ) (826,708 )

Creditors
Amounts falling due after more than one
year

9

15,000

25,000
Net liabilities (1,053,087 ) (851,708 )

Capital and reserves
Called up share capital 12 100 100
Retained earnings (1,053,187 ) (851,808 )
Shareholders' funds (1,053,087 ) (851,708 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

EVERGREEN SHUTTERS LIMITED (REGISTERED NUMBER: 10779395)

BALANCE SHEET - continued
31ST DECEMBER 2023


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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd September 2024 and were signed by:





C Haughton - Director


EVERGREEN SHUTTERS LIMITED (REGISTERED NUMBER: 10779395)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. Statutory information

Evergreen Shutters Limited 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.

The balance sheet at the year end shows net liabilities of £1,053,087 which includes loans from group undertakings of £1,723,351. The director considers that the company is able to meet its obligations as they fall due and confirms that the group undertakings will continue to support the company. Therefore they consider it appropriate to adopt the going concern basis in preparing these accounts.

Turnover
The turnover represents net invoiced sales, excluding value added tax, of goods supplied to customers during the year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents & licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life:

Plant & machinery 20% straight line
Office equipment 20% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

EVERGREEN SHUTTERS LIMITED (REGISTERED NUMBER: 10779395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, aremeasured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
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 deducing all of its liabilities.

EVERGREEN SHUTTERS LIMITED (REGISTERED NUMBER: 10779395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. Accounting policies - continued
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 the tax assessment 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 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.

Operating leases
The cost of operating leases is charged to the profit and loss account on a straight line basis over the lease term.

Pension costs & 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 (including officers)

The average number of employees during the year was 20 (2022 - 16 ) .

EVERGREEN SHUTTERS LIMITED (REGISTERED NUMBER: 10779395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


4. Intangible fixed assets
Patents &
licences
£
Cost
At 1st January 2023 6,948
Additions 300
At 31st December 2023 7,248
Amortisation
At 1st January 2023 1,388
Amortisation for year 725
At 31st December 2023 2,113
Net book value
At 31st December 2023 5,135
At 31st December 2022 5,560

5. Tangible fixed assets
Plant & Office
machinery equipment Totals
£ £ £
Cost
At 1st January 2023 115,306 45,030 160,336
Additions 89,388 1,158 90,546
At 31st December 2023 204,694 46,188 250,882
Depreciation
At 1st January 2023 48,384 28,944 77,328
Charge for year 40,936 8,115 49,051
At 31st December 2023 89,320 37,059 126,379
Net book value
At 31st December 2023 115,374 9,129 124,503
At 31st December 2022 66,922 16,086 83,008

6. Stocks
31.12.23 31.12.22
£ £
Stocks 370,216 422,856

EVERGREEN SHUTTERS LIMITED (REGISTERED NUMBER: 10779395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


7. Debtors: amounts falling due within one year
31.12.23 31.12.22
£ £
Trade debtors 127,569 237,030
Other debtors 29,097 33,191
156,666 270,221

8. Creditors: amounts falling due within one year
31.12.23 31.12.22
£ £
Bank loans & overdrafts 10,000 10,000
Trade creditors 91,585 108,005
Amounts owed to group undertakings 1,723,351 1,570,583
Social security & other taxes 44,249 31,078
Other creditors 62,919 144,566
Accruals & deferred income 7,672 7,672
1,939,776 1,871,904

9. Creditors: amounts falling due after more than one year
31.12.23 31.12.22
£ £
Bank loans 1-5 years 15,000 25,000

10. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£ £
Within one year 28,735 29,924
Between one and five years 23,897 54,912
52,632 84,836

11. Secured debts

The following secured debts are included within creditors:

31.12.23 31.12.22
£ £
Bank loans 25,000 35,000

The bounce back loan of £25,000 is secured by the UK Government.

EVERGREEN SHUTTERS LIMITED (REGISTERED NUMBER: 10779395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £ £
30 A Ordinary Shares £1 30 30
30 B Ordinary Shares £1 30 30
40 C Ordinary Shares £1 40 40
100 100

13. Contingent liabilities

There were no contingent liabilities at 31st December 2023.

14. 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.

15. Ultimate controlling party

The company is a wholly owned subsidiary of Marches Global Holdings Limited.
Company registration number: 14348943
Company registration address: Apex House, Coldnose Road, Hereford, HR2 6JL