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Registration number: 04414960

Evergreen Lodge Limited

Annual Report and Unaudited Financial Statements

for the Period from 8 April 2023 to 31 March 2024

 

Evergreen Lodge Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Evergreen Lodge Limited

Company Information

Directors

R Bloom

H Newman

Company secretaries

E Bloom

K Newman

Registered office

Suite 7
Arkleigh Mansions
200 Brent Street
London
NW4 1BJ

Bankers

Bank of Scotland PLC
Edinburgh
Scotland
EH11 1YH

Accountants

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

Evergreen Lodge Limited

(Registration number: 04414960)
Balance Sheet as at 31 March 2024

Note

31 March 2024
 £

7 April 2023
 £

Fixed assets

 

Tangible assets

5

712,227

652,308

Current assets

 

Debtors: Amounts falling due within one year

6

639,987

562,410

Debtors: Amounts falling due after more than one year

6

1,791,364

1,581,255

Cash at bank and in hand

 

375,589

183,394

 

2,806,940

2,327,059

Creditors: Amounts falling due within one year

7

(771,808)

(770,184)

Net current assets

 

2,035,132

1,556,875

Total assets less current liabilities

 

2,747,359

2,209,183

Creditors: Amounts falling due after more than one year

7

(180,598)

(195,635)

Deferred tax liabilities

(45,917)

(40,115)

Net assets

 

2,520,844

1,973,433

Capital and reserves

 

Called up share capital

10

10

Profit and loss account

2,520,834

1,973,423

Total equity

 

2,520,844

1,973,433

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 3 December 2024 and signed on its behalf by:
 

.........................................

R Bloom
Director

.........................................

H Newman
Director

 

Evergreen Lodge Limited

Notes to the Unaudited Financial Statements for the Period from 8 April 2023 to 31 March 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 7
Arkleigh Mansions
200 Brent Street
London
NW4 1BJ

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainties.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Evergreen Lodge Limited

Notes to the Unaudited Financial Statements for the Period from 8 April 2023 to 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

1% on cost

Freehold land

Nil

Fixtures and fittings

15% on reducing balance

Computer equipment

33% on cost

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Negative goodwill arising on an acquisition is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All debtors are repayable within one year and are hence included at the discounted amount of cash expected to be received.They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

 

Evergreen Lodge Limited

Notes to the Unaudited Financial Statements for the Period from 8 April 2023 to 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Evergreen Lodge Limited

Notes to the Unaudited Financial Statements for the Period from 8 April 2023 to 31 March 2024

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was as follows:

8 April 2023 to 31 March 2024
 No.

1 April 2022 to 7 April 2023
 No.

Average number of employees

82

81

 

Evergreen Lodge Limited

Notes to the Unaudited Financial Statements for the Period from 8 April 2023 to 31 March 2024

 

4

Intangible assets

Goodwill
 £

Cost

At 8 April 2023 and at 31 March 2024

215,001

Amortisation

At 8 April 2023 and at 31 March 2024

215,001

Carrying amount

At 7 April 2023 and at 31 March 2024

-

 

5

Tangible assets

Freehold land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 8 April 2023

644,550

269,509

46,990

961,049

Additions

-

38,988

56,500

95,488

At 31 March 2024

644,550

308,497

103,490

1,056,537

Depreciation

At 8 April 2023

102,661

183,874

22,206

308,741

Charge for the period

5,156

15,766

14,647

35,569

At 31 March 2024

107,817

199,640

36,853

344,310

Carrying amount

At 31 March 2024

536,733

108,857

66,637

712,227

At 7 April 2023

541,889

85,635

24,784

652,308

Land and buildings include land not subject to depreciation of £128,910 (2023 - £128,910)

 

6

Debtors

31 March 2024
 £

7 April 2023
 £

Trade debtors

455,365

269,329

Directors' loan account

76,564

76,564

Other debtors

102,295

209,701

Prepayments

5,763

6,816

Amounts owed by group and connected undertakings

1,791,364

1,581,255

 

2,431,351

2,143,665

Less non-current portion

(1,593,190)

(1,581,255)

Total current trade and other debtors

838,161

562,410

Details of non-current trade and other debtors

£1,593,190 (2023 - £1,581,255) of amounts owed by group and connected companies is classified as non current.

 

Evergreen Lodge Limited

Notes to the Unaudited Financial Statements for the Period from 8 April 2023 to 31 March 2024

 

7

Creditors

31 March 2024
 £

7 April 2023
 £

Due within one year

Loans and borrowings

21,667

31,667

Trade creditors

283,262

297,365

Social security and other taxes

43,400

23,265

Other creditors

32,630

21,723

Accrued expenses

160,026

127,191

Corporation tax liability

230,823

268,973

771,808

770,184

Due after one year

Amounts owed to connected companies

180,598

195,635

 

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

21,667

31,667

 

9

Parent and ultimate parent undertaking

The company's immediate parent is We All Care Limited, incorporated in England and Wales.

 

10

Disclosure under Section 444(5B) CA 2006

As permitted by Section 444 CA 2006, these accounts do not contain a copy of the company’s Profit and Loss account or a copy of the Directors’ Report. These accounts are unaudited.