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Company No: 07327260 (England and Wales)

EVETT COST REDUCTION LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

EVETT COST REDUCTION LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

EVETT COST REDUCTION LIMITED

BALANCE SHEET

As at 31 July 2024
EVETT COST REDUCTION LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,228 2,090
1,228 2,090
Current assets
Debtors 4 8,516 5,350
Cash at bank and in hand 119,794 117,028
128,310 122,378
Creditors: amounts falling due within one year 5 ( 13,492) ( 15,985)
Net current assets 114,818 106,393
Total assets less current liabilities 116,046 108,483
Net assets 116,046 108,483
Capital and reserves
Called-up share capital 6 90 90
Capital redemption reserve 10 10
Profit and loss account 115,946 108,383
Total shareholders' funds 116,046 108,483

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Evett Cost Reduction Limited (registered number: 07327260) were approved and authorised for issue by the Board of Directors on 07 January 2025. They were signed on its behalf by:

Mr J Isaacs
Director
EVETT COST REDUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
EVETT COST REDUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Evett Cost Reduction Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3B Salterton Road, Exmouth, EX8 2BW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is gross sales, including VAT, less payments due to HMRC using the VAT Flat Rate Scheme and is recognised
when the significant risks and rewards are considered to have been transferred to the buyer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 August 2023 11,456 11,456
At 31 July 2024 11,456 11,456
Accumulated depreciation
At 01 August 2023 9,366 9,366
Charge for the financial year 862 862
At 31 July 2024 10,228 10,228
Net book value
At 31 July 2024 1,228 1,228
At 31 July 2023 2,090 2,090

4. Debtors

2024 2023
£ £
Trade debtors 8,387 4,313
Amounts owed by directors 129 0
Prepayments 0 1,037
8,516 5,350

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 922 0
Amounts owed to directors 0 2,728
Accruals 2,700 2,750
Taxation and social security 9,870 8,563
Other creditors 0 1,944
13,492 15,985

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
90 Ordinary shares of £ 1.00 each 90 90

7. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Balance brought forward (2,729) (3,732)
Advances to director during the year 5,065 1,684
Repayments by director during the year (2,207) (681)
Balance carried forward 129 (2,729)