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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
Page
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WE ARE EV GROUP LTD Company Information for the year ended 30 November 2023
Director
J Guthrie
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
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WE ARE EV GROUP LTD Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
7,031 
8,012 
Tangible assets
67,692 
135,960 
Investments
300 
300 
75,023 
144,272 
Current assets
Inventories
104,191 
135,721 
Debtors
71,095 
124,540 
Cash at bank and in hand
2,697 
893 
177,983 
261,154 
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
Deferred tax
- 
(15,249)
Net assets
26,313 
126,050 
Capital and reserves
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
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WE ARE EV GROUP LTD Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Intangible fixed assets are included at cost less accumulated amortisation.
Consolidation
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
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 taxation
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.
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WE ARE EV GROUP LTD Notes to the Accounts for the year ended 30 November 2023
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
Pension costs
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
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 
£ 
Cost
At 1 December 2022
9,810 
At 30 November 2023
9,810 
Amortisation
At 1 December 2022
1,798 
Charge for the year
981 
At 30 November 2023
2,779 
Net book value
At 30 November 2023
7,031 
At 30 November 2022
8,012 
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 
Depreciation
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 
Net book value
At 30 November 2023
11,286 
55,518 
888 
67,692 
At 30 November 2022
15,308 
119,256 
1,396 
135,960 
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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.
7
Inventories
2023 
2022 
£ 
£ 
Work in progress
10,333 
10,333 
Finished goods
93,858 
125,388 
104,191 
135,721 
8
Debtors
2023 
2022 
£ 
£ 
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 
71,095 
124,540 
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 
Trade creditors
2,657 
319 
Other creditors
130 
118 
Accruals
8,960 
9,722 
46,785 
51,123 
10
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
15,833 
25,833 
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 
179,908 
213,004 
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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)
(7,320)
15,249 
2023 
2022 
£ 
£ 
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 
12
Share capital
2023 
2022 
£ 
£ 
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 
28,860 
36,060 
14
Average number of employees
During the year the average number of employees was 4 (2022: 2).
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