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REGISTERED NUMBER: 01242420 (England and Wales)















L.H. Evans Limited

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2024






L.H. Evans Limited (Registered number: 01242420)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 6

Balance Sheet 7

Statement of Changes in Equity 8

Notes to the Financial Statements 9


L.H. Evans Limited

Company Information
for the Year Ended 31 March 2024







Directors: A S L Evans
C J G Regan





Registered office: Ocean Way
Ocean Park
Cardiff
CF24 5HH





Registered number: 01242420 (England and Wales)





Auditors: Haines Watts Wales LLP, Statutory Auditors
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

L.H. Evans Limited (Registered number: 01242420)

Strategic Report
for the Year Ended 31 March 2024

The directors present their strategic report for the year ended 31 March 2024.

Review of business
The accounts are presented for the full year ended 31.03.2024.

During the year turnover has decreased some 5% over the previous year but considering the unpredictable trading conditions the directors are unconcerned with this reduction.

The business has delivered a profit of £461,443 before tax.

Principal risks and uncertainties
The directors continue to seek mitigation to exposure to cash flow risk through the use of an invoice financing arrangement, whilst this facility has not been used for over 12 months, the directors are happy to continue with the arrangement for future opportunities, if and when they arise. The policy is further strengthened through trade debt insurance covering all account customers. Monthly management information allows the directors to monitor financial risks on an ongoing basis. In the opinion of the directors, the company is not particularly susceptible to credit or price risk, but they continue to implement measures to improve turnover levels and margins achieved.

Future developments
Moving forward, the company is consolidating on its activities, the company continues to increase its customer and product base to bring a higher gross margin into the operating results.

All possible channels for growth are regularly reviewed, and whilst no significant developments are planned, opportunities arise.

The business continues to execute sound financial practices and add to accumulated reserves.

On behalf of the board:





A S L Evans - Director


4 October 2024

L.H. Evans Limited (Registered number: 01242420)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

Dividends
No dividends will be distributed for the year ended 31 March 2024.

Directors
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

A S L Evans
C J G Regan

Statement of directors' responsibilities
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors
The auditors, Haines Watts Wales LLP, Statutory Auditors, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





A S L Evans - Director


4 October 2024

Report of the Independent Auditors to the Members of
L.H. Evans Limited

Opinion
We have audited the financial statements of L.H. Evans Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
L.H. Evans Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our planning procedures identify the legal and regulatory frameworks applicable to the operations and financial statements of the company. These are reviewed internally with the audit team including relevant industry experience and expectations as well as externally with the client management. The key laws and regulations we considered in this context were the UK Companies Act 2006, UK GAAP (FRS 102) and relevant tax legislation.

Once identified, we assess the risks of material misstatements in relation to the laws and regulations, irregularities, including fraud and adjust our testing accordingly. Our audit procedures include:

- Discussing with Directors and management which areas of the business they believe to be more susceptible to
fraud, and whether they have any knowledge or suspicion of fraudulent activities;
- Obtaining an understanding of the key controls put in place by the company to address risks identified,
assessing the effectiveness of those and discussing how these are maintained and monitored internally;
- Assessing the risk of management override and review and testing of journal entries made into the accounting
system;
- Challenging assumptions and judgements made by the company in relation to the significant accounting
estimates employed in the preparation of the financial statements;
- Discussing with Directors and Management the legal and regulatory obligations of the business and whether
they have any knowledge or suspicion of non compliance.

Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularities likely involve collusion, forgery, intentional misrepresentation, or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Victoria Carter (Senior Statutory Auditor)
for and on behalf of Haines Watts Wales LLP, Statutory Auditors
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

8 October 2024

L.H. Evans Limited (Registered number: 01242420)

Statement of Comprehensive
Income
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

Turnover 15,297,151 16,099,196

Cost of sales (11,641,485 ) (12,669,018 )
Gross profit 3,655,666 3,430,178

Administrative expenses (3,193,433 ) (2,836,508 )
Operating profit 462,233 593,670


Interest payable and similar expenses 4 (790 ) (13,014 )
Profit before taxation 5 461,443 580,656

Tax on profit 7 (118,775 ) (121,207 )
Profit for the financial year 342,668 459,449

Other comprehensive income - -
Total comprehensive income for the year 342,668 459,449

L.H. Evans Limited (Registered number: 01242420)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
Fixed assets
Intangible assets 8 134,593 159,433
Tangible assets 9 56,420 83,392
Investments 10 25,000 25,000
216,013 267,825

Current assets
Stocks 11 1,642,013 1,779,694
Debtors 12 4,748,920 4,937,752
Cash at bank and in hand 257,877 562,340
6,648,810 7,279,786
Creditors
Amounts falling due within one year 13 (4,146,499 ) (5,156,090 )
Net current assets 2,502,311 2,123,696
Total assets less current liabilities 2,718,324 2,391,521

Creditors
Amounts falling due after more than one
year

14

(20,018

)

(29,880

)

Provisions for liabilities 18 (7,278 ) (13,281 )
Net assets 2,691,028 2,348,360

Capital and reserves
Called up share capital 19 11,615 11,615
Retained earnings 2,679,413 2,336,745
Shareholders' funds 2,691,028 2,348,360

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by:





A S L Evans - Director


L.H. Evans Limited (Registered number: 01242420)

Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 11,615 1,877,296 1,888,911

Changes in equity
Total comprehensive income - 459,449 459,449
Balance at 31 March 2023 11,615 2,336,745 2,348,360

Changes in equity
Total comprehensive income - 342,668 342,668
Balance at 31 March 2024 11,615 2,679,413 2,691,028

L.H. Evans Limited (Registered number: 01242420)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. Statutory information

L.H. Evans 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 33.7.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements,estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements and estimations that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

a) Provision for buying-group rebate receivable in respect of purchases made in the year,
b) Depreciation charges on tangible fixed assets,
c) Calculation of other year-end accruals and prepayments and
d) stock provisions based on stock turnover.

Turnover
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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Goodwill arises on business acquisitions and represents the excess cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed 10 years.

If there is an indication that there has been significant change in the amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

L.H. Evans Limited (Registered number: 01242420)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets,the depreciation is revised prospectively to reflect the new estimates.

Tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset,the excess shall be recognised in profit or loss.

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

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments 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.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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.

For all equity instruments regardless of significance, and other financial assets that are individually
significant, these 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.


L.H. Evans Limited (Registered number: 01242420)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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.

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.

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 are largely independent to 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.

3. Employees and directors
2024 2023
£    £   
Wages and salaries 1,695,322 1,480,312
Social security costs 161,517 153,179
Other pension costs 92,717 150,660
1,949,556 1,784,151

The average number of employees during the year was as follows:
2024 2023

59 54

L.H. Evans Limited (Registered number: 01242420)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. Employees and directors - continued

During the year the company paid key management gross salaries and benefits totalling £282,500. Key management are considered to be 5 individuals who directly impact upon the strategic direction of the company.

2024 2023
£    £   
Directors' remuneration 226,881 168,578
Directors' pension contributions to money purchase schemes 13,050 86,567

Information regarding the highest paid director for the year ended 31 March 2024 is as follows:
2024
£   
Emoluments etc 226,881
Pension contributions to money purchase schemes 13,050

4. Interest payable and similar expenses
2024 2023
£    £   
Bank interest 790 13,014

5. Profit before taxation

The profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 127,062 102,287
Other operating leases 232,234 234,051
Depreciation - owned assets 27,972 29,109
Goodwill amortisation 24,840 24,840

6. Auditors' remuneration
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

17,775

7,650

7. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 124,779 75,614

Deferred tax (6,004 ) 45,593
Tax on profit 118,775 121,207

UK corporation tax was charged at 19%) in 2023.

L.H. Evans Limited (Registered number: 01242420)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. Taxation - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 461,443 580,656
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

115,361

110,325

Effects of:
Expenses not deductible for tax purposes 4,808 3,394
Depreciation in excess of capital allowances 11,841 5,743
Utilisation of tax losses (7,231 ) (43,848 )
Deferred Tax release (6,004 ) 45,593
Total tax charge 118,775 121,207

8. Intangible fixed assets
Goodwill
£   
Cost
At 1 April 2023
and 31 March 2024 248,400
Amortisation
At 1 April 2023 88,967
Amortisation for year 24,840
At 31 March 2024 113,807
Net book value
At 31 March 2024 134,593
At 31 March 2023 159,433

9. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 April 2023 94,289 194,286 14,400 219,267 522,242
Additions - - - 1,000 1,000
At 31 March 2024 94,289 194,286 14,400 220,267 523,242
Depreciation
At 1 April 2023 71,007 184,020 3,500 180,323 438,850
Charge for year 5,287 3,592 3,500 15,593 27,972
At 31 March 2024 76,294 187,612 7,000 195,916 466,822
Net book value
At 31 March 2024 17,995 6,674 7,400 24,351 56,420
At 31 March 2023 23,282 10,266 10,900 38,944 83,392

L.H. Evans Limited (Registered number: 01242420)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. Fixed asset investments
Unlisted
investments
£   
Cost
At 1 April 2023
and 31 March 2024 25,000
Net book value
At 31 March 2024 25,000
At 31 March 2023 25,000

11. Stocks
2024 2023
£    £   
Stocks 1,642,013 1,779,694

12. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 2,164,814 2,688,365
Amounts owed by group undertakings 1,829,538 1,448,543
Other debtors 606,291 431,370
VAT - 219,235
Prepayments 148,277 150,239
4,748,920 4,937,752

13. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 9,788 9,788
Trade creditors 2,175,455 3,472,716
Amounts owed to group undertakings 1,535,870 1,323,883
Tax 124,779 75,614
Social security and other taxes 35,686 37,304
VAT 19,864 -
Other creditors and accruals 245,057 236,785
4,146,499 5,156,090

The factoring loan is secured by a first charge over the company's trade debtors. All bank borrowings are secured through a group cross-guarantee arrangement.

14. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans (see note 15) 20,018 29,880

15. Loans

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,788 9,788

L.H. Evans Limited (Registered number: 01242420)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

15. Loans - continued
2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 9,788 10,035

Amounts falling due between two and five years:
Bank loans - 2-5 years 10,230 19,845

16. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 135,730 111,490
Between one and five years 192,883 190,385
328,613 301,875

17. Secured debts

The company has an unlimited intercompany guarantee in place which is dated 26/06/2021.

18. Provisions for liabilities
2024 2023
£    £   
Deferred tax 7,278 13,281

Deferred
tax
£   
Balance at 1 April 2023 13,281
Provided during year (6,003 )
Balance at 31 March 2024 7,278

19. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
11,615 Ordinary £1 11,615 11,615

20. Pension commitments

The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £92,717 (2023: £150,660).

Contributions totalling £12,324 (2023: £11,100) were payable to the scheme at the end of the period and are included within creditors.

L.H. Evans Limited (Registered number: 01242420)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

21. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
A S L Evans
Balance outstanding at start of year - 3,797
Amounts repaid - (3,797 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

22. Controlling party

The company's ultimate parent is L.H. Evans Holdings Ltd,which is incorporated in the UK. The registered office and principal place of business of the parent company is L H Evans,Ocean Way, Ocean Park, Cardiff, CF24 5HH. Copies of the financial statements of both companies are available from Companies house, Crown Way, Cardiff CF14 3UZ.

The Directors have determined that there is no controlling party as no individual shareholder is considered to hold a controlling interest in the Company.