Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30false2022-10-01falseNo description of principal activity34truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07696437 2022-10-01 2023-09-30 07696437 2021-10-01 2022-09-30 07696437 2023-09-30 07696437 2022-09-30 07696437 c:Director3 2022-10-01 2023-09-30 07696437 d:PlantMachinery 2022-10-01 2023-09-30 07696437 d:PlantMachinery 2023-09-30 07696437 d:PlantMachinery 2022-09-30 07696437 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 07696437 d:OfficeEquipment 2022-10-01 2023-09-30 07696437 d:OfficeEquipment 2023-09-30 07696437 d:OfficeEquipment 2022-09-30 07696437 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 07696437 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 07696437 d:CurrentFinancialInstruments 2023-09-30 07696437 d:CurrentFinancialInstruments 2022-09-30 07696437 d:Non-currentFinancialInstruments 2023-09-30 07696437 d:Non-currentFinancialInstruments 2022-09-30 07696437 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 07696437 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 07696437 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 07696437 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 07696437 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-09-30 07696437 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-09-30 07696437 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-09-30 07696437 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-09-30 07696437 d:ShareCapital 2023-09-30 07696437 d:ShareCapital 2022-09-30 07696437 d:RetainedEarningsAccumulatedLosses 2023-09-30 07696437 d:RetainedEarningsAccumulatedLosses 2022-09-30 07696437 c:OrdinaryShareClass1 2022-10-01 2023-09-30 07696437 c:OrdinaryShareClass1 2023-09-30 07696437 c:OrdinaryShareClass1 2022-09-30 07696437 c:OrdinaryShareClass2 2022-10-01 2023-09-30 07696437 c:OrdinaryShareClass2 2023-09-30 07696437 c:OrdinaryShareClass2 2022-09-30 07696437 c:FRS102 2022-10-01 2023-09-30 07696437 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 07696437 c:FullAccounts 2022-10-01 2023-09-30 07696437 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 07696437 2 2022-10-01 2023-09-30 07696437 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 07696437









EVOGREEN LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS 
FOR THE YEAR ENDED 30 SEPTEMBER 2023







































 
EVOGREEN LIMITED
REGISTERED NUMBER: 07696437

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,515
932

  
2,515
932

Current assets
  

Stocks
  
3,040
3,040

Debtors: amounts falling due within one year
 5 
161,322
109,884

Cash at bank and in hand
 6 
246,744
26,077

  
411,106
139,001

Creditors: amounts falling due within one year
 7 
(276,921)
(54,907)

Net current assets
  
 
 
134,185
 
 
84,094

Total assets less current liabilities
  
136,700
85,026

Creditors: amounts falling due after more than one year
 8 
(500,522)
(465,274)

  

Net liabilities
  
(363,822)
(380,248)

Page 1

 
EVOGREEN LIMITED
REGISTERED NUMBER: 07696437
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
 10 
55,556
55,556

Profit and loss account
  
(419,378)
(435,804)

  
(363,822)
(380,248)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Shah
Director

Date: 15 January 2025

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
EVOGREEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Evogreen Limited is a private company limited by shares incorporated in England and Wales. The registered number is 07696437. The registered office is 10 Lower Thames Street, London, EC3R 6AF.
The company continues to service and maintain the portfolio of renewable energy sites it has a vested interest in whilst awaiting the future contracted rentals from these sites to flow as revenues. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the directors are confident the company has sufficient available funding to enable the company to meet its liabilities fora period of at least twelve months from approval of these financial statements.

Page 3

 
EVOGREEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
EVOGREEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 5

 
EVOGREEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
3 years straight line
Office equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
EVOGREEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 the deduction of all its liabilities.
Page 7

 
EVOGREEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.17
Financial instruments (continued)


Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 4).

Page 8

 
EVOGREEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 October 2022
3,248
2,975
6,223


Additions
2,224
145
2,369



At 30 September 2023

5,472
3,120
8,592



Depreciation


At 1 October 2022
3,010
2,281
5,291


Charge for the year on owned assets
333
453
786



At 30 September 2023

3,343
2,734
6,077



Net book value



At 30 September 2023
2,129
386
2,515



At 30 September 2022
238
694
932

Page 9

 
EVOGREEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
54,120
18,874

Other debtors
23,671
-

Prepayments and accrued income
12,064
11,313

Deferred taxation
71,467
79,697

161,322
109,884



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
246,744
26,077

246,744
26,077



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
11,205
6,941

Trade creditors
161,206
29,226

Other taxation and social security
92,760
13,643

Other creditors
1,309
3,686

Accruals and deferred income
10,441
1,411

276,921
54,907


Page 10

 
EVOGREEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
27,806
37,015

Other loans
472,716
428,259

500,522
465,274


Other loans are secured by a debenture of fixed and floating charge over all of the assets and trade of the company including any intellectual property. 

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022
£
£


Repayable other than by instalments
472,716
428,259

472,716
428,259




9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year
11,205
6,941

Amounts falling due 1-2 years
27,806
37,015


Amounts falling due after more than 5 years
472,717
428,259

511,728
472,215


Page 11

 
EVOGREEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50,000 (2022 - 50,000) Ordinary A shares of £1.00 each
50,000
50,000
5,556 (2022 - 5,556) Ordinary B shares of £1.00 each
5,556
5,556

55,556

55,556



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £2,642 (2022 - £1,659) . Contributions totalling £514 (2022 - £514) were payable to the fund at the balance sheet date and are included in creditors.


12.


Controlling party

At the Balance Sheet date, Bagnall Energy Limited holds 100% of the share capital of Evogreen Limited and is the immediate parent undertaking. 
The directors do not consider there to be a single ultimate controlling party. 
Bagnall Energy Limited is a private limited company, incorporated in England and Wales, registered number 08349679. The registered office and place of business is 10 Lower Thames Street, London, EC3R 6AF.

 
Page 12