Registered number
05480842
EVOLUTION MEDICAL LIMITED
Unaudited Filleted Accounts
30 June 2024
EVOLUTION MEDICAL LIMITED
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of EVOLUTION MEDICAL LIMITED for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of EVOLUTION MEDICAL LIMITED for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Weber & Associates
Chartered Accountants
5 St John's Lane
London
EC1M 4BH
14 March 2025
EVOLUTION MEDICAL LIMITED
Registered number: 05480842
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,292 844
Investments 4 55,893 55,893
57,185 56,737
Current assets
Debtors 5 668,788 677,805
Cash at bank and in hand 312,711 167,152
981,499 844,957
Creditors: amounts falling due within one year 6 (104,003) (80,278)
Net current assets 877,496 764,679
Total assets less current liabilities 934,681 821,416
Creditors: amounts falling due after more than one year 7 (15,963) (24,932)
Provisions for liabilities (258) -
Net assets 918,460 796,484
Capital and reserves
Called up share capital 100 100
Profit and loss account 918,360 796,384
Shareholders' funds 918,460 796,484
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S.H. Khan
Director
Approved by the board on 14 March 2025
EVOLUTION MEDICAL LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The directors, having assessed the available information and after making appropriate enquiries, have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue 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, net of discounts. Turnover includes revenue earned from the sale of rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Fixtures, fittings and equipment 33.33% straight line
Motor vehicles 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Group financial statements
These financial statements present information about the company as an individual undertaking and not about its group. The company is exempt by virtue of s383 of the Companies Act 2006 from the requirement to prepare the group financial statements.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
The Company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 14,796 48,500 63,296
Additions 1,298 - 1,298
Disposals - (48,500) (48,500)
At 30 June 2024 16,094 - 16,094
Depreciation
At 1 July 2023 13,953 48,499 62,452
Charge for the year 849 - 849
On disposals - (48,499) (48,499)
At 30 June 2024 14,802 - 14,802
Net book value
At 30 June 2024 1,292 - 1,292
At 30 June 2023 843 1 844
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 July 2023 5,788 50,105 55,893
At 30 June 2024 5,788 50,105 55,893
Historical cost
At 1 July 2023 5,788 50,105
At 30 June 2024 5,788 50,105
5 Debtors 2024 2023
£ £
Trade debtors 10,929 18,254
Amounts owed by group undertakings 650,733 650,733
Deferred tax asset - 7,479
Other debtors 7,126 1,339
668,788 677,805
Amounts due after more than one year included above 650,733 650,733
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,648 10,648
Corporation tax 42,758 52,492
Other creditors 50,597 17,138
104,003 80,278
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,963 24,932
8 Related party transactions 2020 2019
£ £
S. H. Khan
Director of the company
Expenses incurred on behalf of the company
Amount due to the related party 43,164 74,670
D. K. Hothi
Director of the company
Expenses incurred on behalf of the company
Amount due to the related party 3,307 3,307
9 Controlling party
Mr S. H. Khan and Ms D. K. Hothi, the directors of the Company, control the Company as a result of controlling, directly or indirectly, 100 per cent of the issued share capital of the Company.
10 Other information
EVOLUTION MEDICAL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
37 Calmont Road
Bromley
BR1 4BY
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