Company registration number 11932532 (England and Wales)
EVANS PARTNERS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
EVANS PARTNERS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
EVANS PARTNERS LTD
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
159,009
104,294
Tangible assets
4
146,764
117,780
305,773
222,074
Current assets
Stocks
14,408
10,430
Debtors
5
154,597
78,478
Investments
6
1,698
1,698
Cash at bank and in hand
48,109
11,398
218,812
102,004
Creditors: amounts falling due within one year
7
(185,744)
(191,087)
Net current assets/(liabilities)
33,068
(89,083)
Total assets less current liabilities
338,841
132,991
Creditors: amounts falling due after more than one year
8
(203,544)
(92,217)
Provisions for liabilities
(27,580)
(6,956)
Net assets
107,717
33,818
Capital and reserves
Called up share capital
9
1
1
Capital redemption reserve
1
1
Profit and loss reserves
107,715
33,816
Total equity
107,717
33,818
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 January 2025
Mr W D Evans
Director
Company registration number 11932532 (England and Wales)
EVANS PARTNERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
Evans Partners Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Hillcrest, New Inn, Pontypool, Gwent, Wales, NP4 0NG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Franchise Fees
- 10 years straight line
1.4
Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
- 25% reducing balance
Fixtures and fittings
- 25% reducing balance
Computers
- 25% reducing balance
Motor vehicles
- 15% reducing balance
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
EVANS PARTNERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors and creditors with no stated interest rate and recoverable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense,
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
37
16
EVANS PARTNERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
3
Intangible fixed assets
Franchise Fees
£
Cost
At 1 May 2023
111,622
Additions - internally developed
72,525
At 30 April 2024
184,147
Amortisation and impairment
At 1 May 2023
7,328
Amortisation charged for the year
17,810
At 30 April 2024
25,138
Carrying amount
At 30 April 2024
159,009
At 30 April 2023
104,294
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
23,437
23,841
3,249
87,143
137,670
Additions
8,222
27,863
23,300
59,385
At 30 April 2024
31,659
51,704
3,249
110,443
197,055
Depreciation and impairment
At 1 May 2023
7,942
6,634
1,601
3,713
19,890
Depreciation charged in the year
5,586
9,258
412
15,145
30,401
At 30 April 2024
13,528
15,892
2,013
18,858
50,291
Carrying amount
At 30 April 2024
18,131
35,812
1,236
91,585
146,764
At 30 April 2023
15,495
17,207
1,648
83,430
117,780
EVANS PARTNERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
84
Other debtors
154,597
78,394
154,597
78,478
6
Current asset investments
2024
2023
£
£
Other investments
1,698
1,698
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
24,379
15,353
Trade creditors
27,453
50,217
Corporation tax
8,226
Other taxation and social security
11,742
355
Other creditors
113,944
125,162
185,744
191,087
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
153,814
37,067
Other creditors
49,730
55,150
203,544
92,217
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
40,783
7,804
EVANS PARTNERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
204,081
253,019
11
Directors' transactions
Dividend totalling £26,000 (2023 - £7,000) were paid in the year in respect of shares held by the company's director.
The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end the amount outstanding to the director was £71,374 (2023 - £108,875); this amount being included in creditors: amounts falling due within one year.