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REGISTERED NUMBER: 10184268 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

EVO PROPERTY LIMITED

EVO PROPERTY LIMITED (REGISTERED NUMBER: 10184268)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EVO PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: A O Olaseinde
Miss H E Olaseinde





REGISTERED OFFICE: 129 Marston Road
Stafford
ST16 3BS





REGISTERED NUMBER: 10184268 (England and Wales)





ACCOUNTANTS: Armstrongs Bishop Simmons
Chartered Accountants and Tax Advisors
Gethin House
36 Bond Street
Nuneaton
Warwickshire
CV11 4DA

EVO PROPERTY LIMITED (REGISTERED NUMBER: 10184268)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 150,000 150,000
Investment property 5 1,373,000 1,373,000
1,523,000 1,523,000

CURRENT ASSETS
Debtors 6 96,226 2,333
Cash at bank 25,575 20,475
121,801 22,808
CREDITORS
Amounts falling due within one year 7 850,891 801,748
NET CURRENT LIABILITIES (729,090 ) (778,940 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

793,910

744,060

PROVISIONS FOR LIABILITIES 147,430 147,430
NET ASSETS 646,480 596,630

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 646,380 596,530
SHAREHOLDERS' FUNDS 646,480 596,630

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EVO PROPERTY LIMITED (REGISTERED NUMBER: 10184268)

BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by:





A O Olaseinde - Director


EVO PROPERTY LIMITED (REGISTERED NUMBER: 10184268)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Evo Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The turnover comprises of income from lettings. Rental income from investment property leased out under operating leases is recognised in the statement of comprehensive income on a straight-line basis over the term of the lease.

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The methods and significant assumptions used to ascertain the fair value of £1,373,000.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

EVO PROPERTY LIMITED (REGISTERED NUMBER: 10184268)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023
and 31 May 2024 150,000
NET BOOK VALUE
At 31 May 2024 150,000
At 31 May 2023 150,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 1,373,000
NET BOOK VALUE
At 31 May 2024 1,373,000
At 31 May 2023 1,373,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2023 615,019
Cost 757,981
1,373,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 96,226 94
Prepayments - 2,239
96,226 2,333

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 13,668 13,095
Other creditors - 750,868
Directors' current accounts 831,638 31,165
Accruals and deferred income 5,585 6,620
850,891 801,748

EVO PROPERTY LIMITED (REGISTERED NUMBER: 10184268)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. RELATED PARTY DISCLOSURES

Included within other debtors is an amount of £61,132 (2023 - £750,868 (Owed)) due from KBA Investments Ltd, a company connected via mutual directors. This loan is interest free with no set repayment terms.

Included within other debtors is an amount of £35,000 (2023 - £Nil) due from O&B Property Ltd, a company connected via mutual directors. This loan is interest free with no set repayment terms.