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REGISTERED NUMBER: 00531509 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

EVERGREEN HOLDINGS LIMITED

EVERGREEN HOLDINGS LIMITED (REGISTERED NUMBER: 00531509)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EVERGREEN HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: S Bennett





SECRETARY: S Bennett





REGISTERED OFFICE: 5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX





REGISTERED NUMBER: 00531509 (England and Wales)





ACCOUNTANTS: Arithma LLP
Chartered Certified Accountants
5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

EVERGREEN HOLDINGS LIMITED (REGISTERED NUMBER: 00531509)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 925,994 947,276
Investments 5 11,110 11,110
Investment property 6 500,000 500,000
1,437,104 1,458,386

CURRENT ASSETS
Debtors 7 1,844,740 1,952,678
Cash at bank 754,480 589,625
2,599,220 2,542,303
CREDITORS
Amounts falling due within one year 8 743,422 536,477
NET CURRENT ASSETS 1,855,798 2,005,826
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,292,902

3,464,212

CREDITORS
Amounts falling due after more than one
year

9

376,198

434,681
NET ASSETS 2,916,704 3,029,531

CAPITAL AND RESERVES
Called up share capital 87,200 87,200
Revaluation reserve 12 477,887 486,962
Fair value reserve 12 130,360 130,360
Retained earnings 12 2,221,257 2,325,009
SHAREHOLDERS' FUNDS 2,916,704 3,029,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

EVERGREEN HOLDINGS LIMITED (REGISTERED NUMBER: 00531509)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 director and authorised for issue on 27 November 2024 and were signed by:





S Bennett - Director


EVERGREEN HOLDINGS LIMITED (REGISTERED NUMBER: 00531509)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Evergreen Holdings 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.

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.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Evergreen Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

TURNOVER
Turnover represents administration/management charges receivable from group companies, net of VAT.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost

No depreciation is provided on the land included in freehold property.

The company had its freehold property revalued to fair value and has elected to use it as its deemed cost on transition to FRS102.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

EVERGREEN HOLDINGS LIMITED (REGISTERED NUMBER: 00531509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

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 statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include inter-group loans and other 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.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


EVERGREEN HOLDINGS LIMITED (REGISTERED NUMBER: 00531509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

EVERGREEN HOLDINGS LIMITED (REGISTERED NUMBER: 00531509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 December 2022 1,000,000 12,282 31,994 43,849 1,088,125
Additions - - - 11,745 11,745
At 30 November 2023 1,000,000 12,282 31,994 55,594 1,099,870
DEPRECIATION
At 1 December 2022 87,833 10,201 27,428 15,387 140,849
Charge for year 17,000 2,081 1,522 12,424 33,027
At 30 November 2023 104,833 12,282 28,950 27,811 173,876
NET BOOK VALUE
At 30 November 2023 895,167 - 3,044 27,783 925,994
At 30 November 2022 912,167 2,081 4,566 28,462 947,276

Cost or valuation at 30 November 2023 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 1980 265,265 - - - 265,265
Valuation in 2017 268,587 - - - 268,587
Cost 466,148 12,282 31,994 55,594 566,018
1,000,000 12,282 31,994 55,594 1,099,870

If Freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 466,148 466,148
Aggregate depreciation 48,868 40,943

Value of land in freehold land and buildings 69,922 69,922

Freehold land and buildings were valued on an open market basis on 10 November 2017 by Vail Williams LLP (Chartered Surveyors) .

The company has elected to use the 10 November 2017 valuation as deemed cost on transitioning to FRS102.

EVERGREEN HOLDINGS LIMITED (REGISTERED NUMBER: 00531509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
Additions 11,745
At 30 November 2023 11,745
DEPRECIATION
Charge for year 2,936
At 30 November 2023 2,936
NET BOOK VALUE
At 30 November 2023 8,809

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 December 2022
and 30 November 2023 11,110
NET BOOK VALUE
At 30 November 2023 11,110
At 30 November 2022 11,110

At the balance sheet date, the company's investments in subsidiary undertakings were as follows:





Name of company
Proportion
of
Ordinary
shares
held




Nature of business


Clark Masts Systems Ltd

90%
Manufacturing of masts and trading
in lighting products.
Clark Masts Teksam Ltd 100% Dormant
Teklite U.K. Ltd 100% Dormant
Scope Technical Sales Ltd (ex Evergreen
Leasing & Finance Ltd)

100%

Dormant

EVERGREEN HOLDINGS LIMITED (REGISTERED NUMBER: 00531509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 500,000
NET BOOK VALUE
At 30 November 2023 500,000
At 30 November 2022 500,000

The investment property was revalued in 2021 to £500,000 by the director and he is of the opinion the value is unchanged as at the balance sheet date.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,741,371 1,860,326
Other debtors 103,369 92,352
1,844,740 1,952,678

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 41,853 56,891
Hire purchase contracts (see note 10) 2,871 -
Trade creditors 14,557 6,000
Amounts owed to group undertakings 635,830 386,658
Taxation and social security 35,530 59,023
Other creditors 12,781 27,905
743,422 536,477

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 376,198 434,681

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 84,607 167,099

EVERGREEN HOLDINGS LIMITED (REGISTERED NUMBER: 00531509)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Gross obligations repayable:
Within one year 3,064 -

Finance charges repayable:
Within one year 193 -

Net obligations repayable:
Within one year 2,871 -

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 418,051 491,572

The bank loan is secured by way of a first legal charge over the company's freehold properties together with a cross guarantee and debenture by and between the company, Clark Masts Systems Limited and Bennett Telemat Limited.

12. RESERVES
Fair
Retained Revaluation value
earnings reserve reserve Totals
£    £    £    £   

At 1 December 2022 2,325,009 486,962 130,360 2,942,331
Deficit for the year (12,827 ) (12,827 )
Dividends (100,000 ) (100,000 )
Transfer of depreciation on
freehold property revaluation

9,075

(9,075

)

-

-

At 30 November 2023 2,221,257 477,887 130,360 2,829,504

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14. ULTIMATE CONTROLLING PARTY

The controlling party is S Bennett.

The ultimate controlling party is S Bennett.