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Registered number: 10440758
Evergreen Capital Advisors Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Mouktaris & Co Ltd
Chartered Accountants & Registered Auditors
156a Burnt Oak Broadway
Edgware
Middlesex
HA8 0AX
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 10440758
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 253 337
Investments 5 11,877 8,095
12,130 8,432
CURRENT ASSETS
Debtors 6 817,487 560,399
Cash at bank and in hand 72,028 289,160
889,515 849,559
Creditors: Amounts Falling Due Within One Year 7 (31,566 ) (82,527 )
NET CURRENT ASSETS (LIABILITIES) 857,949 767,032
TOTAL ASSETS LESS CURRENT LIABILITIES 870,079 775,464
PROVISIONS FOR LIABILITIES
Provisions For Charges (1,752 ) (1,752 )
NET ASSETS 868,327 773,712
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 868,227 773,612
SHAREHOLDERS' FUNDS 868,327 773,712
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Georgios Galanopoulos
Director
31 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Evergreen Capital Advisors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10440758 . The registered office is 38 Newburn Street, London, SE11 5PJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets relating to unlisted investments represent called and contributed capital to a venture capital fund. Venture capital investments are shown at cost less impairment.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% reducing balance
2.5. Financial Instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from third parties.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
The tax expense represents the sum of the corporation tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.
2.9. Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest.
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2.10. Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
31 March 2024 31 March 2023
Director 1 1
1 1
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 450
As at 31 March 2024 450
Depreciation
As at 1 April 2023 113
Provided during the period 84
As at 31 March 2024 197
Net Book Value
As at 31 March 2024 253
As at 1 April 2023 337
5. Investments
Unlisted
£
Cost
As at 1 April 2023 8,095
Additions 3,782
As at 31 March 2024 11,877
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 11,877
As at 1 April 2023 8,095
Unlisted investments of £11,877 (US$15,000) represent called and contributed capital to a venture capital fund. The Company has committed to contribute a total of $20,000 in capital. Venture capital investments are shown at cost less impairment.
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6. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Other debtors 3,147 10,481
Amounts owed by group undertaking 814,340 549,918
817,487 560,399
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Corporation tax 31,566 82,471
Director's loan account - 56
31,566 82,527
8. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
9. Dividends
31 March 2024 31 March 2023
£ £
On equity shares:
Final dividend paid - 2,000
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