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REGISTERED NUMBER: 05081225 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Evolve Corporate Limited

Evolve Corporate Limited (Registered number: 05081225)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Evolve Corporate Limited (Registered number: 05081225)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 873 16,308
Tangible assets 5 23,411 31,634
24,284 47,942

CURRENT ASSETS
Stocks 1,187,353 1,082,647
Debtors 6 576,460 595,303
Cash at bank 1,262,795 741,769
3,026,608 2,419,719
CREDITORS
Amounts falling due within one year 7 (1,218,651 ) (525,212 )
NET CURRENT ASSETS 1,807,957 1,894,507
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,832,241

1,942,449

CREDITORS
Amounts falling due after more than one year 8 - (348,871 )
NET ASSETS 1,832,241 1,593,578

CAPITAL AND RESERVES
Called up share capital 20,005 20,005
Retained earnings 1,812,236 1,573,573
1,832,241 1,593,578

Evolve Corporate Limited (Registered number: 05081225)

Balance Sheet - continued
31 December 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 5 March 2025 and were signed on its behalf by:




Mr R Wells - Director



Mr B Wells - Director


Evolve Corporate Limited (Registered number: 05081225)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Evolve Corporate Limited is a private company, limited by shares, domiciled in Wales, registration number 05081225. The registered office is Evolve House, Dyffryn Park, Ystrad Mynach, Wales, CF82 7TW.

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.

Turnover
Turnover represents net invoiced sales of goods and services in respect of specialist safety products, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of twelve years.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.


Evolve Corporate Limited (Registered number: 05081225)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is
determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 55,500 59,222 114,722
AMORTISATION
At 1 January 2024 55,500 42,914 98,414
Charge for year - 15,435 15,435
At 31 December 2024 55,500 58,349 113,849
NET BOOK VALUE
At 31 December 2024 - 873 873
At 31 December 2023 - 16,308 16,308

Evolve Corporate Limited (Registered number: 05081225)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 247,765
Additions 1,000
Disposals (9,990 )
At 31 December 2024 238,775
DEPRECIATION
At 1 January 2024 216,131
Charge for year 8,495
Eliminated on disposal (9,262 )
At 31 December 2024 215,364
NET BOOK VALUE
At 31 December 2024 23,411
At 31 December 2023 31,634

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 534,421 544,508
Other debtors 42,039 50,795
576,460 595,303

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 453,730 233,463
Taxation and social security 308,242 276,405
Other creditors 456,679 15,344
1,218,651 525,212

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Other creditors - 348,871