Company Registration No. 11043875 (England and Wales)
WE ARE EV GROUP LTD
Unaudited accounts
for the year ended 30 November 2023
WE ARE EV GROUP LTD
Unaudited accounts
Contents
WE ARE EV GROUP LTD
Company Information
for the year ended 30 November 2023
Company Number
11043875 (England and Wales)
Registered Office
BROOK COTTAGE
MAIN ROAD
EASTER COMPTON
BRISTOL
BS35 5RH
Accountants
FARQUHAR PARTNERSHIP LIMITED
151 WHITELADIES ROAD
CLIFTON
BRISTOL
BS8 2RA
WE ARE EV GROUP LTD
Statement of financial position
as at 30 November 2023
Intangible assets
7,031
8,012
Tangible assets
67,692
135,960
Inventories
104,191
135,721
Cash at bank and in hand
2,697
893
Creditors: amounts falling due within one year
(46,785)
(51,123)
Net current assets
131,198
210,031
Total assets less current liabilities
206,221
354,303
Creditors: amounts falling due after more than one year
(179,908)
(213,004)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
26,213
125,950
Shareholders' funds
26,313
126,050
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 November 2024 and were signed on its behalf by
J Guthrie
Director
Company Registration No. 11043875
WE ARE EV GROUP LTD
Notes to the Accounts
for the year ended 30 November 2023
WE ARE EV GROUP LTD is a private company, limited by shares, registered in England and Wales, registration number 11043875. The registered office is BROOK COTTAGE, MAIN ROAD, EASTER COMPTON, BRISTOL, BS35 5RH .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Intangible fixed assets are included at cost less accumulated amortisation.
The company is a parent company subject to the small companies regime. The company and it's subsidiaries comprise a small group. The company is therefore not required to and has not chosen to prepare group accounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Motor vehicles
25% Reducing Balance
Computer equipment
20% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
WE ARE EV GROUP LTD
Notes to the Accounts
for the year ended 30 November 2023
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Government grants in relation to covid assistance are credited to profit and loss using the accruals model and are recognised in Other operating income.
4
Intangible fixed assets
Other
Intangible fixed assets comprise the application and purchase of trade marks within the UK and EU in order to protect the company brand, logo and image. Amortisation is recognised on a straight-line basis over a period of 10 years from the effective date of the trade marks.
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
20,112
134,500
2,538
157,150
Disposals
-
(49,051)
-
(49,051)
At 30 November 2023
20,112
85,449
2,538
108,099
At 1 December 2022
4,804
15,244
1,142
21,190
Charge for the year
4,022
14,687
508
19,217
At 30 November 2023
8,826
29,931
1,650
40,407
At 30 November 2023
11,286
55,518
888
67,692
At 30 November 2022
15,308
119,256
1,396
135,960
WE ARE EV GROUP LTD
Notes to the Accounts
for the year ended 30 November 2023
6
Investments
Subsidiary undertakings
Valuation at 1 December 2022
300
Valuation at 30 November 2023
300
Investments comprise shares held in We Are EV Energy Ltd (100%), We Are EV Hire Ltd (100%) and We Are EV Online Ltd (100%). The investments are recognised at original cost less any accumulated impairment losses.
Work in progress
10,333
10,333
Finished goods
93,858
125,388
Amounts falling due within one year
Trade debtors
12,158
59,111
Amounts due from group undertakings etc.
47,092
47,055
Deferred tax asset
7,320
-
Other debtors
4,525
18,374
9
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
27,273
33,764
Obligations under finance leases and hire purchase contracts
7,765
7,200
10
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
21,095
28,860
Other creditors
22,000
22,000
Loans from directors
120,980
136,311
WE ARE EV GROUP LTD
Notes to the Accounts
for the year ended 30 November 2023
11
Deferred taxation
2023
2022
Accelerated capital allowances
8,421
21,098
Tax losses carried forward
(15,729)
(5,838)
Other deferred taxation
(12)
(11)
Provision at start of year
15,249
8,137
(Credited)/charged to the profit and loss account
(22,569)
7,112
Provision at end of year
(7,320)
15,249
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
13
Operating lease commitments
2023
2022
At 30 November 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
7,200
7,200
Later than one year and not later than five years
21,660
28,860
14
Average number of employees
During the year the average number of employees was 4 (2022: 2).