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REGISTERED NUMBER: 00837299 (United Kingdom)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

EVANNANCE INVESTMENT CO. LTD

EVANNANCE INVESTMENT CO. LTD (REGISTERED NUMBER: 00837299)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


EVANNANCE INVESTMENT CO. LTD (REGISTERED NUMBER: 00837299)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,261 1,681
Investment property 5 22,417,900 21,377,900
22,419,161 21,379,581

CURRENT ASSETS
Debtors 6 234,067 189,709
Investments 7 359,179 296,373
Cash at bank 568,173 868,024
1,161,419 1,354,106
CREDITORS
Amounts falling due within one year 8 366,691 253,083
NET CURRENT ASSETS 794,728 1,101,023
TOTAL ASSETS LESS CURRENT LIABILITIES 23,213,889 22,480,604

CREDITORS
Amounts falling due after more than one
year

9

(5,400,000

)

(5,900,000

)

PROVISIONS FOR LIABILITIES 11 (2,769,582 ) (2,527,127 )
NET ASSETS 15,044,307 14,053,477

CAPITAL AND RESERVES
Called up share capital 12 600 600
Share premium 98,430 98,430
Revaluation reserve 10,661,677 9,806,126
Capital redemption reserve 26,000 26,000
Retained earnings 4,257,600 4,122,321
SHAREHOLDERS' FUNDS 15,044,307 14,053,477

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 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.

EVANNANCE INVESTMENT CO. LTD (REGISTERED NUMBER: 00837299)

Balance Sheet - continued
31 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:





Mr I G Evans - Director


EVANNANCE INVESTMENT CO. LTD (REGISTERED NUMBER: 00837299)

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


1. STATUTORY INFORMATION

Evannance Investment Co. Ltd is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 00837299

Registered office: 65 Cathedral Road
Cardiff
CF11 9HE

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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

EVANNANCE INVESTMENT CO. LTD (REGISTERED NUMBER: 00837299)

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


2. ACCOUNTING POLICIES - continued

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 comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

EVANNANCE INVESTMENT CO. LTD (REGISTERED NUMBER: 00837299)

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


2. ACCOUNTING POLICIES - continued

Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial Instruments

Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Debt instruments are subsequently measured at amortised cost.

Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 August 2023
and 31 July 2024 16,793
DEPRECIATION
At 1 August 2023 15,112
Charge for year 420
At 31 July 2024 15,532
NET BOOK VALUE
At 31 July 2024 1,261
At 31 July 2023 1,681

EVANNANCE INVESTMENT CO. LTD (REGISTERED NUMBER: 00837299)

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


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 21,377,900
Additions 1,670
Revaluations 1,038,330
At 31 July 2024 22,417,900
NET BOOK VALUE
At 31 July 2024 22,417,900
At 31 July 2023 21,377,900

The directors consider £22,417,900 to be the fair value of the investment properties at the 31st July 2024.

A valuation was carried out by Avison Young Commercial Estate Agents, who are not connected with the company, of the London properties and a proportion of the Welsh properties in July 2022. The market value attributed to these properties was £17,845,000. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors consider the market value of these properties to be £18,825,000 at the 31st July 2024.

The remaining £3,592,900 of investment property was not formally valued in the current or prior year, and is included in the financial statements at a director valuation.

Deferred tax has been provided on the fair value adjustments to investment property.


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 97,697 26,328
Other debtors 136,370 163,381
234,067 189,709

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 359,179 296,373

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Social security and other taxes 130,142 32,915
Other creditors 95,321 80,148
Accruals and deferred income 141,228 140,020
366,691 253,083

EVANNANCE INVESTMENT CO. LTD (REGISTERED NUMBER: 00837299)

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


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) 5,400,000 5,900,000

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 5,400,000 5,900,000

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,769,582 2,527,127

Deferred
tax
£   
Balance at 1 August 2023 2,527,127
Provided during year 242,455
Balance at 31 July 2024 2,769,582

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
60,000 Ordinary 1p 600 600