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REGISTERED NUMBER: 06678936 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

EVERFINE INSTALLATIONS LIMITED

EVERFINE INSTALLATIONS LIMITED (REGISTERED NUMBER: 06678936)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EVERFINE INSTALLATIONS LIMITED

Company Information
for the Year Ended 31st March 2024







DIRECTORS: Mr D Reid
Mrs G Reid





SECRETARY: Mr D Reid





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
Lancashire
PR7 1JE





REGISTERED NUMBER: 06678936 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

EVERFINE INSTALLATIONS LIMITED (REGISTERED NUMBER: 06678936)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,564 50,183

CURRENT ASSETS
Stocks 1,200 3,360
Debtors 5 121,148 97,538
Cash at bank 24 5,057
122,372 105,955
CREDITORS
Amounts falling due within one year 6 141,129 119,237
NET CURRENT LIABILITIES (18,757 ) (13,282 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,807

36,901

CREDITORS
Amounts falling due after more than one
year

7

(12,237

)

(26,783

)

PROVISIONS FOR LIABILITIES (7,327 ) (9,722 )
NET ASSETS 243 396

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 143 296
SHAREHOLDERS' FUNDS 243 396

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

EVERFINE INSTALLATIONS LIMITED (REGISTERED NUMBER: 06678936)

Balance Sheet - continued
31st March 2024


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 Board of Directors and authorised for issue on 28th January 2025 and were signed on its behalf by:




Mr D Reid - Director



Mrs G Reid - Director


EVERFINE INSTALLATIONS LIMITED (REGISTERED NUMBER: 06678936)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Everfine Installations Limited is a private company, limited by shares , registered in England and Wales. 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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Revenue is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

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 - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all 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.


EVERFINE INSTALLATIONS LIMITED (REGISTERED NUMBER: 06678936)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

EVERFINE INSTALLATIONS LIMITED (REGISTERED NUMBER: 06678936)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st April 2023 13,263 17,746 48,110 1,715 80,834
Additions 396 2,345 - - 2,741
Disposals - - (6,000 ) - (6,000 )
At 31st March 2024 13,659 20,091 42,110 1,715 77,575
DEPRECIATION
At 1st April 2023 11,146 4,157 13,846 1,502 30,651
Charge for year 443 3,675 8,078 213 12,409
Eliminated on disposal - - (4,049 ) - (4,049 )
At 31st March 2024 11,589 7,832 17,875 1,715 39,011
NET BOOK VALUE
At 31st March 2024 2,070 12,259 24,235 - 38,564
At 31st March 2023 2,117 13,589 34,264 213 50,183

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 48,528 64,380
Other debtors 20,064 10,678
Directors' current accounts 52,556 22,480
121,148 97,538

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 43,193 14,291
Trade creditors 27,008 16,853
Tax 43,591 35,986
VAT 5,543 3,747
Other creditors 17,813 7,383
Accruals and deferred income 3,981 40,977
141,129 119,237

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 10,468 14,546
Bank loans - 2-5 years 1,769 12,237
12,237 26,783

EVERFINE INSTALLATIONS LIMITED (REGISTERED NUMBER: 06678936)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year - 1,667

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 26,783 41,074

The loan is secured by a fixed and floating charge over all the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 ordinary 100 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2024 and 31st March 2023:

31.3.24 31.3.23
£    £   
Mr D Reid
Balance outstanding at start of year 11,240 21,607
Amounts advanced 26,938 31,003
Amounts repaid (11,900 ) (41,370 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,278 11,240

Mrs G Reid
Balance outstanding at start of year 11,240 21,607
Amounts advanced 26,938 31,003
Amounts repaid (11,900 ) (41,370 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,278 11,240

Interest has been charged by the company on advances to directors at a rate of 2.25% per annum.

12. ULTIMATE CONTROLLING PARTY

During the year, the directors Mr & Mrs Reid controlled the company by virtue of holding 100% of issued share capital.