Company Registration No. 13612299 (England and Wales)
Evolve Refurbishments Ltd
Unaudited accounts
for the year ended 30 September 2024
Evolve Refurbishments Ltd
Unaudited accounts
Contents
Evolve Refurbishments Ltd
Company Information
for the year ended 30 September 2024
Directors
Rebecca Rousseau
Luke Rousseau
Company Number
13612299 (England and Wales)
Registered Office
2-4 Stoneleigh Park Road
Epsom
Surrey
KT19 0QT
England
Accountants
Hybrid Premium LTD
2-4 Stoneleigh Park Road
Stoneleigh
Epsom
Surrey
KT19 0QT
Evolve Refurbishments Ltd
Statement of financial position
as at 30 September 2024
Investment property
890,000
853,000
Cash at bank and in hand
16,513
1,138
Creditors: amounts falling due within one year
(159,626)
(168,117)
Net current liabilities
(131,602)
(148,153)
Total assets less current liabilities
758,398
704,847
Creditors: amounts falling due after more than one year
(812,354)
(812,337)
Provisions for liabilities
Deferred tax
(12,392)
(3,142)
Net liabilities
(66,348)
(110,632)
Called up share capital
100
100
Profit and loss account
(66,448)
(110,732)
Shareholders' funds
(66,348)
(110,632)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2025 and were signed on its behalf by
Rebecca Rousseau
Director
Company Registration No. 13612299
Evolve Refurbishments Ltd
Notes to the Accounts
for the year ended 30 September 2024
Evolve Refurbishments Ltd is a private company, limited by shares, registered in England and Wales, registration number 13612299. The registered office is 2-4 Stoneleigh Park Road, Epsom, Surrey, KT19 0QT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Fair value at 1 October 2023
853,000
Net gain from fair value adjustments
37,000
At 30 September 2024
890,000
Investment Properties are revalued at the end of each company year.
Evolve Refurbishments Ltd
Notes to the Accounts
for the year ended 30 September 2024
Amounts falling due within one year
Accrued income and prepayments
160
-
Other debtors
11,351
18,826
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
157,100
157,100
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
592,354
592,337
Other creditors
220,000
220,000
At year-end the company owed.
Pepper Mortgage £361,612.42 interest-only rate of 3.23% p.a for a 25-year term.
The Mortgage Works £230,741.52 interest-only rate of 2.99% p.a for a 25-year term.
The mortgages are secured against each investment property.
At year-end, Evolve Refurbishments Ltd owed GB Solutions Maintenance Solutions Ltd £220,000.00.
Loan 1 - £150,000, an unsecured loan for 25 years, interest-only rate of 2%
Loan 2 - £50,0000, an unsecured loan for 25 years, interest-only rate of 2%
Loan 2 - £20,000, an unsecured loan for 25 years, interest-only rate of 2.25%
8
Deferred taxation
2024
2023
Accelerated capital allowances
12,392
3,142
Provision at start of year
3,142
(2,608)
Charged to the profit and loss account
9,250
5,750
Provision at end of year
12,392
3,142
At company year-end, the directors were owed by the company £78,550.00 each.
Evolve Refurbishments Ltd
Notes to the Accounts
for the year ended 30 September 2024
10
Transactions with related parties
At year-end, Evolve Refurbishments Ltd owed GB Solutions Maintenance Solutions Ltd £220,000.00.
Loan 1 - £150,000, an unsecured loan for 25 years, interest-only rate of 2%
Loan 2 - £50,0000, an unsecured loan for 25 years, interest-only rate of 2%
Loan 2 - £20,000, an unsecured loan for 25 years, interest-only rate of 2.25%
GB Maintenance Solutions Ltd is 100% controlled by Mr and Mrs Rousseau.
11
Average number of employees
During the year the average number of employees was 0 (2023: 0).