Company Registration No. 06783173 (England and Wales)
EVENTOLOGISTS HOLDINGS LIMITED
(FORMERLY EVENTOLOGISTS LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
Celixir House
Stratford Business & Technology Park
Innovation Way, Banbury Road
Stratford-upon-Avon
Warwickshire
United Kingdom
CV37 7GZ
EVENTOLOGISTS HOLDINGS LIMITED
(FORMERLY EVENTOLOGISTS LIMITED)
CONTENTS
Page
Company information
Directors' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
Accountants' report
10
EVENTOLOGISTS HOLDINGS LIMITED
(FORMERLY EVENTOLOGISTS LIMITED)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2024
- 1 -
The directors present their annual report and financial statements for the year ended 31 January 2024.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mrs R Mashru-Chandarana
Mr Sital Chandarana
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mrs R Mashru-Chandarana
Director
22 October 2024
EVENTOLOGISTS HOLDINGS LIMITED
(FORMERLY EVENTOLOGISTS LIMITED)
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
749,809
775,306
Investment property
5
500,000
376,650
Investments
6
17,531
17,531
1,267,340
1,169,487
Current assets
Stocks
81,741
72,009
Debtors
7
169,503
167,190
Cash at bank and in hand
328,131
145,528
579,375
384,727
Creditors: amounts falling due within one year
8
(863,429)
(776,027)
Net current liabilities
(284,054)
(391,300)
Total assets less current liabilities
983,286
778,187
Creditors: amounts falling due after more than one year
9
(281,193)
(460,642)
Provisions for liabilities
(39,454)
(10,960)
Net assets
662,639
306,585
Capital and reserves
Called up share capital
1
1
Revaluation reserve
10
92,512
Profit and loss reserves
570,126
306,584
Total equity
662,639
306,585
EVENTOLOGISTS HOLDINGS LIMITED
(FORMERLY EVENTOLOGISTS LIMITED)
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 22 October 2024 and are signed on its behalf by:
Mrs R Mashru-Chandarana
Director
Company registration number 06783173 (England and Wales)
EVENTOLOGISTS HOLDINGS LIMITED
(FORMERLY EVENTOLOGISTS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information
Eventologists Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 13 Mandervell Road, Oadby, Leicester, LE2 5LQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
50 year straight line
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
EVENTOLOGISTS HOLDINGS LIMITED
(FORMERLY EVENTOLOGISTS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
EVENTOLOGISTS HOLDINGS LIMITED
(FORMERLY EVENTOLOGISTS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 6 -
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 deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
EVENTOLOGISTS HOLDINGS LIMITED
(FORMERLY EVENTOLOGISTS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 7 -
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
1.12
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.13
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
7
7
EVENTOLOGISTS HOLDINGS LIMITED
(FORMERLY EVENTOLOGISTS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 8 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2023
720,871
149,730
870,601
Additions
7,012
7,012
At 31 January 2024
720,871
156,742
877,613
Depreciation and impairment
At 1 February 2023
16,767
78,528
95,295
Depreciation charged in the year
14,417
18,092
32,509
At 31 January 2024
31,184
96,620
127,804
Carrying amount
At 31 January 2024
689,687
60,122
749,809
At 31 January 2023
704,104
71,202
775,306
5
Investment property
2024
£
Fair value
At 1 February 2023
376,650
Revaluations
123,350
At 31 January 2024
500,000
One investment property is held in the company at a value which is considered by the director to represent a fair market valuation at the year end.
6
Fixed asset investments
2024
2023
£
£
Other investments other than loans
17,531
17,531
EVENTOLOGISTS HOLDINGS LIMITED
(FORMERLY EVENTOLOGISTS LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 9 -
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
125,097
136,862
Other debtors
44,406
30,328
169,503
167,190
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
27,394
27,614
Trade creditors
160,478
267,982
Taxation and social security
255,961
178,169
Other creditors
419,596
302,262
863,429
776,027
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
281,193
460,642
The long term loans are secured by fixed and floating charges over the companies freehold property.
10
Revaluation reserve
2024
2023
£
£
At the beginning of the year
Other movements
92,512
-
At the end of the year
92,512
-
EVENTOLOGISTS HOLDINGS LIMITED
(FORMERLY EVENTOLOGISTS LIMITED)
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EVENTOLOGISTS HOLDINGS LIMITED FOR THE YEAR ENDED 31 JANUARY 2024
- 10 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Eventologists Holdings Limited for the year ended 31 January 2024 set out on pages 2 to 9 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 https://www.icaew.com/regulation.
This report is made solely to the board of directors of Eventologists Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 4 November 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Eventologists Holdings Limited and state those matters that we have agreed to state to the board of directors of Eventologists Holdings 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 Eventologists Holdings Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Eventologists Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Eventologists Holdings Limited. You consider that Eventologists Holdings 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 financial statements of Eventologists Holdings 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 financial statements.
TC Group
22 October 2024
Celixir House
Stratford Business & Technology Park
Innovation Way, Banbury Road
Stratford-upon-Avon
Warwickshire
United Kingdom
CV37 7GZ
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