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REGISTERED NUMBER: 01307491 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

EVANS TURNER (FINISHES) LIMITED

EVANS TURNER (FINISHES) LIMITED (REGISTERED NUMBER: 01307491)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EVANS TURNER (FINISHES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: P R McEntire





REGISTERED OFFICE: Unit 25
Acorn Industrial Park
Crayford Road
Crayford
Kent
DA1 4AL





REGISTERED NUMBER: 01307491 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
2nd Floor
Medway Bridge House
1-8 Fairmeadow
Maidstone
Kent
ME14 1JP

EVANS TURNER (FINISHES) LIMITED (REGISTERED NUMBER: 01307491)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 183,478 218,796

CURRENT ASSETS
Stocks 120,000 165,000
Debtors 5 1,516,353 1,944,818
Cash at bank and in hand 1,041,778 520,015
2,678,131 2,629,833
CREDITORS
Amounts falling due within one year 6 1,735,478 1,959,283
NET CURRENT ASSETS 942,653 670,550
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,126,131

889,346

PROVISIONS FOR LIABILITIES 8 23,682 30,996
NET ASSETS 1,102,449 858,350

CAPITAL AND RESERVES
Called up share capital 9 440 510
Share premium 51,376 51,376
Capital redemption reserve 184 114
Retained earnings 1,050,449 806,350
SHAREHOLDERS' FUNDS 1,102,449 858,350

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 and authorised for issue by the director and authorised for issue on 31 January 2025 and were signed by:





P R McEntire - Director


EVANS TURNER (FINISHES) LIMITED (REGISTERED NUMBER: 01307491)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Evans Turner (Finishes) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01307491 and registered office address is at Unit 25 Acorn Industrial Park, Crayford Road, Crayford, Kent, DA1 4AL.

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.

Going concern
Accounting standards require the director to consider the appropriateness of the going concern basis when preparing the financial statements. The director confirms that they consider that the going concern basis remains appropriate. The director believes that the Company has sufficient resources to continue in operational existence for the foreseeable future. The director believes this to be the case as the Company has positive reserves, cash balances and no significant long term liabilities.

The company has a solid financial base with sufficient liquidity to meet its obligations as they fall due. Furthermore the business benefits from a strong forward order book, which provides a high level of visibility over future revenue streams. In addition, the company continues to operate in a market with stable demand for its high-quality architectural finishes and related services for the lift industry. Based on the company's current financial position and future prospects, the managing director is confident that the company will continue to operate as a going concern.

Thus, the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.

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

Turnover is recognised at the invoice date, following completion of works or a certain stage of a project.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold10% straight line
Plant and machinery12.5% straight line
Motor vehicles25% straight line
Fixtures & fittings10 - 33% straight line


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

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.


EVANS TURNER (FINISHES) LIMITED (REGISTERED NUMBER: 01307491)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

The company contributes to personal pension plans on behalf of directors.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

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 accounts of cash with no significant risk of change in value.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 39 ) .

EVANS TURNER (FINISHES) LIMITED (REGISTERED NUMBER: 01307491)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2023 43,211 294,513 89,480 242,103 669,307
Additions - 23,583 3,373 - 26,956
At 31 July 2024 43,211 318,096 92,853 242,103 696,263
DEPRECIATION
At 1 August 2023 26,576 184,298 79,899 159,738 450,511
Charge for year 3,335 23,821 5,769 29,349 62,274
At 31 July 2024 29,911 208,119 85,668 189,087 512,785
NET BOOK VALUE
At 31 July 2024 13,300 109,977 7,185 53,016 183,478
At 31 July 2023 16,635 110,215 9,581 82,365 218,796

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,138,035 1,582,081
Other debtors 23,244 5,833
Prepayments 355,074 356,904
1,516,353 1,944,818

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 347,656 407,434
Corporation tax 278,468 255,376
Social security and other taxes 30,073 42,401
VAT 63,463 147,356
Other creditors 367,605 442,777
Directors' loan accounts 579,452 586,831
Accruals and deferred income 68,761 77,108
1,735,478 1,959,283

There is an existing loan of £365,493 (2023: £417,404) from a previous Director included in other creditors. Interest has been charged on the loan at 8.5% (2023: 7%) resulting in a charge to the profit and loss account of £28,088 (2023: £19,202). There are no repayment terms attached to the loan.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 176,943 176,943
Between one and five years 273,368 450,311
450,311 627,254

EVANS TURNER (FINISHES) LIMITED (REGISTERED NUMBER: 01307491)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 23,682 30,996

Deferred
tax
£   
Balance at 1 August 2023 30,996
Credit to Income Statement during year (7,314 )
Balance at 31 July 2024 23,682

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal value: 2024 2023
£ £
125 A Ordinary £1 125 125
48 B Ordinary £1 48 72
125 C Ordinary £1 125 125
50 D Ordinary £1 50 75
46 E Ordinary £1 46 62
46 F Ordinary £1 46 51
440 510

During the period, the following shares were repurchased by the company:

24 Ordinary B shares at a nominal value of £1 each
25 Ordinary D shares at a nominal value of £1 each
16 Ordinary E shares at a nominal value of £1 each
5 Ordinary F shares at a nominal value of £1 each

The Ordinary A and B shares have the following prescribed particulars:

The shares have attached to them full voting rights, rights to receive dividends and rights on a return of capital.

The Ordinary C, D, E and F shares have the following prescribed particulars:

The shares do not confer any voting rights. All A Ordinary shares, B Ordinary shares, C Ordinary shares, D Ordinary shares, E Ordinary shares and F Ordinary shares rank pari passu in all other respects.

10. 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 £88,854 (2023: £125,596). £4,519 outstanding liability was payable to the fund at the balance sheet date (2023: £4,947).

11. OTHER FINANCIAL COMMITMENTS

There is a commitment for the repurchase of the remaining B, D and F shares post year end spread over three years.

EVANS TURNER (FINISHES) LIMITED (REGISTERED NUMBER: 01307491)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


12. RELATED PARTY DISCLOSURES

As at the balance sheet date. the company owed P McEntire £579,452 (2023: £586,831) and the amount has been included in creditors due within one year. Interest has been charged on the loan at 8.5% (2023: 7%), resulting in a charge to the profit and loss account of £47,980 (2023: £30,262). There are no repayment terms attached to the loan.

During the period, dividends of £164,000 (2023: £205,000) were paid to the director and other shareholders connected with the director.