Evro Estates Limited 09326095 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of letting and commercial property investment. Digita Accounts Production Advanced 6.30.9574.0 true true 09326095 2023-05-01 2024-04-30 09326095 2024-04-30 09326095 bus:OrdinaryShareClass1 2024-04-30 09326095 bus:OrdinaryShareClass2 2024-04-30 09326095 core:CurrentFinancialInstruments 2024-04-30 09326095 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 09326095 core:Non-currentFinancialInstruments 2024-04-30 09326095 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 09326095 core:FurnitureFittingsToolsEquipment 2024-04-30 09326095 bus:SmallEntities 2023-05-01 2024-04-30 09326095 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 09326095 bus:FilletedAccounts 2023-05-01 2024-04-30 09326095 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 09326095 bus:RegisteredOffice 2023-05-01 2024-04-30 09326095 bus:Director1 2023-05-01 2024-04-30 09326095 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 09326095 bus:OrdinaryShareClass2 2023-05-01 2024-04-30 09326095 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09326095 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 09326095 countries:EnglandWales 2023-05-01 2024-04-30 09326095 2023-04-30 09326095 core:FurnitureFittingsToolsEquipment 2023-04-30 09326095 2022-05-01 2023-04-30 09326095 2023-04-30 09326095 bus:OrdinaryShareClass1 2023-04-30 09326095 bus:OrdinaryShareClass2 2023-04-30 09326095 core:CurrentFinancialInstruments 2023-04-30 09326095 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 09326095 core:Non-currentFinancialInstruments 2023-04-30 09326095 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 09326095 core:FurnitureFittingsToolsEquipment 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09326095

Evro Estates Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Evro Estates Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Evro Estates Limited

Company Information

Director

Dr R R De Silva

Registered office

79 Brighton Road
Surbiton
Surrey
KT6 5NF

Accountants

Richlands Business Advisers Limited
Chartered Accountants
42-46 Station Road
Edgware
Middlesex
HA8 7AB

 

Evro Estates Limited

(Registration number: 09326095)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,104

10,803

Investment property

5

683,631

683,631

 

691,735

694,434

Current assets

 

Cash at bank and in hand

 

13,399

3,625

Creditors: Amounts falling due within one year

7

(211,327)

(207,159)

Net current liabilities

 

(197,928)

(203,534)

Total assets less current liabilities

 

493,807

490,900

Creditors: Amounts falling due after more than one year

7

(387,724)

(398,505)

Net assets

 

106,083

92,395

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

105,083

91,395

Shareholders' funds

 

106,083

92,395

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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 and delivered 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 January 2025
 

.........................................
Dr R R De Silva
Director

 

Evro Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
79 Brighton Road
Surbiton
Surrey
KT6 5NF
United Kingdom

These financial statements were authorised for issue by the director on 22 January 2025.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

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 tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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.

 

Evro Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors.The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 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 subsequently measured at amortised cost using the effective interest method.

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.

 

Evro Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

20,754

20,754

At 30 April 2024

20,754

20,754

Depreciation

At 1 May 2023

9,951

9,951

Charge for the year

2,699

2,699

At 30 April 2024

12,650

12,650

Carrying amount

At 30 April 2024

8,104

8,104

At 30 April 2023

10,803

10,803

5

Investment properties

2024
£

At 1 May

683,631

At 30 April

683,631

The fair value of the investment properties at the date of the balance sheet was £683,631. The fair value of the investment properties were assessed internally by the directors at the year-end

6

Debtors

Current

2024
£

2023
£

 

-

-

 

Evro Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

2,780

2,780

Trade creditors

 

110

1,015

Other creditors

 

2,545

2,545

Accrued expenses

 

3,240

1,620

Corporation tax payable

 

4,313

4,954

Directors current account

 

198,339

194,245

 

211,327

207,159

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

387,724

398,505

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A Shares of £1 each

800

800

800

800

Ordinary B Shares of £1 each

200

200

200

200

1,000

1,000

1,000

1,000

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

387,724

398,505

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,780

2,780

 

Evro Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Transition to FRS 102

This is the first year the company is preparing accounts under FRS 102 Section 1A. The policies applied under the entities previous accounting framework for subsequent measurement of investment properties are different to FRS 102 and have impacted on the equity or profit or loss. Previous period's profit or loss have been reinstated.

Balance Sheet at 1 May 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Called up share capital

1,000

-

-

1,000

Retained earnings

76,030

-

-

76,030

Total equity

77,030

-

-

77,030

Balance Sheet at 30 April 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Called up share capital

1,000

-

-

1,000

Retained earnings

91,395

-

-

91,395

Total equity

92,395

-

-

92,395