EVOLUTION WARRANTIES LIMITED

Company Registration Number:
14708698 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 6 March 2023

End date: 31 August 2024

EVOLUTION WARRANTIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes

EVOLUTION WARRANTIES LIMITED

Directors' report period ended 31 August 2024

The directors present their report with the financial statements of the company for the period ended 31 August 2024

Principal activities of the company

PRINCIPAL ACTIVITY The principal activity of the company during the period was providing uninsured used car warranty solutions to the UK motor trade.



Directors

The director shown below has held office during the period of
12 November 2023 to 31 August 2024

G M Loughran


The director shown below has held office during the period of
1 August 2023 to 17 June 2024

D Smith


The director shown below has held office during the period of
17 July 2023 to 31 August 2024

S C Watson


The directors shown below have held office during the period of
14 July 2023 to 31 August 2024

T M Brown
M P Flanagan
M G King


The director shown below has held office during the period of
10 May 2023 to 31 August 2024

R G Davies


The director shown below has held office during the period of
6 March 2023 to 12 November 2023

P M Watson


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
14 January 2025

And signed on behalf of the board by:
Name: G M Loughran
Status: Director

EVOLUTION WARRANTIES LIMITED

Balance sheet

As at 31 August 2024

Notes 18 months to 31 August 2024


£
Called up share capital not paid: 100
Fixed assets
Tangible assets: 3 113,156
Total fixed assets: 113,156
Current assets
Debtors: 4 271,161
Cash at bank and in hand: 186,990
Total current assets: 458,151
Creditors: amounts falling due within one year: 5 ( 192,970 )
Net current assets (liabilities): 265,181
Total assets less current liabilities: 378,437
Creditors: amounts falling due after more than one year: 6 ( 689,253 )
Total net assets (liabilities): (310,816)
Capital and reserves
Called up share capital: 100
Profit and loss account: (310,916 )
Total Shareholders' funds: ( 310,816 )

The notes form part of these financial statements

EVOLUTION WARRANTIES LIMITED

Balance sheet statements

For the year ending 31 August 2024 the company was entitled to exemption 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 directors acknowledge their 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 14 January 2025
and signed on behalf of the board by:

Name: G M Loughran
Status: Director

The notes form part of these financial statements

EVOLUTION WARRANTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover Turnover represents the invoiced value of the sale of warranty policies and is shown net of VAT.

    Tangible fixed assets depreciation policy

    Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery etc 33.33% straight line and 25% reducing balance

    Other accounting policies

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

EVOLUTION WARRANTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    18 months to 31 August 2024
    Average number of employees during the period 22

EVOLUTION WARRANTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 113,156 113,156
Disposals
Revaluations
Transfers
At 31 August 2024 113,156 113,156
Depreciation
Charge for year
On disposals
Other adjustments
At 31 August 2024
Net book value
At 31 August 2024 113,156 113,156

EVOLUTION WARRANTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Debtors

18 months to 31 August 2024
£
Trade debtors 271,161
Total 271,161

EVOLUTION WARRANTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Creditors: amounts falling due within one year note

18 months to 31 August 2024
£
Trade creditors 192,970
Total 192,970

EVOLUTION WARRANTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

6. Creditors: amounts falling due after more than one year note

18 months to 31 August 2024
£
Other creditors 689,253
Total 689,253

EVOLUTION WARRANTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

7. Financial Commitments

Hire purchase and leasing commitments Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.