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REGISTERED NUMBER: SC478640 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 May 2024

for

EVOLVE SCOTLAND LIMITED

EVOLVE SCOTLAND LIMITED (REGISTERED NUMBER: SC478640)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EVOLVE SCOTLAND LIMITED

Company Information
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: G Campbell





REGISTERED OFFICE: 6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC478640 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

EVOLVE SCOTLAND LIMITED (REGISTERED NUMBER: SC478640)

Balance Sheet
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,621 39,599
Investment property 5 160,000 91,440
189,621 131,039

CURRENT ASSETS
Stocks 587,869 481,001
Debtors 6 1,395 1,290
Cash at bank 2,425 3,020
591,689 485,311
CREDITORS
Amounts falling due within one year 7 23,868 20,169
NET CURRENT ASSETS 567,821 465,142
TOTAL ASSETS LESS CURRENT
LIABILITIES

757,442

596,181

CREDITORS
Amounts falling due after more than one
year

8

(564,524

)

(501,890

)

PROVISIONS FOR LIABILITIES (18,654 ) (7,524 )
NET ASSETS 174,264 86,767

EVOLVE SCOTLAND LIMITED (REGISTERED NUMBER: SC478640)

Balance Sheet - continued
31 MAY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 174,263 86,766
SHAREHOLDERS' FUNDS 174,264 86,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

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 21 January 2025 and were signed by:





G Campbell - Director


EVOLVE SCOTLAND LIMITED (REGISTERED NUMBER: SC478640)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Evolve Scotland Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on a straight line basis and 25% on a reducing balance basis
Motor vehicles - 20% on a straight line basis
Computer equipment - 33% on a straight line basis

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


EVOLVE SCOTLAND LIMITED (REGISTERED NUMBER: SC478640)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 4,089 46,750 4,408 55,247
Additions 396 - - 396
Disposals (391 ) - (1,846 ) (2,237 )
At 31 May 2024 4,094 46,750 2,562 53,406
DEPRECIATION
At 1 June 2023 1,890 9,350 4,408 15,648
Charge for year 1,024 9,350 - 10,374
Eliminated on disposal (391 ) - (1,846 ) (2,237 )
At 31 May 2024 2,523 18,700 2,562 23,785
NET BOOK VALUE
At 31 May 2024 1,571 28,050 - 29,621
At 31 May 2023 2,199 37,400 - 39,599

EVOLVE SCOTLAND LIMITED (REGISTERED NUMBER: SC478640)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 June 2023 91,440
Revaluations 68,560
At 31 May 2024 160,000
NET BOOK VALUE
At 31 May 2024 160,000
At 31 May 2023 91,440

Cost or valuation at 31 May 2024 is represented by:
£   
Valuation in 2017 57,276
Valuation in 2018 34,164
Valuation in 2024 68,560
160,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,395 1,290

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,889 3,889
Taxation and social security 12,293 8,736
Other creditors 7,686 7,544
23,868 20,169

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 20,502 23,658
Other creditors 544,022 478,232
564,524 501,890

EVOLVE SCOTLAND LIMITED (REGISTERED NUMBER: SC478640)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,946 8,102
Other loans more 5yrs instal 120,020 120,000
124,966 128,102