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REGISTERED NUMBER: 11768411 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ENVOREM LIMITED

ENVOREM LIMITED (REGISTERED NUMBER: 11768411)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ENVOREM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M E Batt-Rawden
C S Hall
M E Levey
P J Searl





REGISTERED OFFICE: 128 City Road
Islington
London
EC1V 2NX





REGISTERED NUMBER: 11768411 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
34-40 High Street
Wanstead
London
E11 2RJ

ENVOREM LIMITED (REGISTERED NUMBER: 11768411)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 666,649 351,283
Tangible assets 5 1,351,378 1,057,241
2,018,027 1,408,524

CURRENT ASSETS
Stocks - 294,432
Debtors 6 384,064 68,373
Cash at bank 86,232 302,211
470,296 665,016
CREDITORS
Amounts falling due within one year 7 798,471 151,809
NET CURRENT (LIABILITIES)/ASSETS (328,175 ) 513,207
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,689,852

1,921,731

CREDITORS
Amounts falling due after more than one
year

8

1,889,248

1,892,173
NET (LIABILITIES)/ASSETS (199,396 ) 29,558

CAPITAL AND RESERVES
Called up share capital 1,104 538
Share premium 2,220,854 1,853,719
Retained earnings (2,421,354 ) (1,824,699 )
SHAREHOLDERS' FUNDS (199,396 ) 29,558

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 10 March 2025 and were signed on its behalf by:





M E Batt-Rawden - Director


ENVOREM LIMITED (REGISTERED NUMBER: 11768411)

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


1. STATUTORY INFORMATION

Envorem Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements and going concern
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
Having considered all the relevant facts the directors consider it is appropriate to prepare the financial statements on a going concern basis based on their ongoing financial support and commitment to the company.

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

Development costs
The company applies the rules set out in FRS102 Section 18 when considering the capitalization of development costs. Therefore, the company only recognises an intangible asset as an asset if, and only if:

(a) it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity; and

(b) the cost or value of the asset can be measured reliably.

The asset is initially recognised at cost, where cost comprises all directly attributable costs necessary to create, produce and prepare the asset to be capable of operating in the manner intended by management.

This will include:

(i) costs of materials and services used or consumed in generating the intangible asset;

(ii) costs of employee benefits arising from the generation of the intangible asset; and

(iii)fees to register a legal right.

Any expenditure carried forward is amortised in line with the expected future life of the asset less any
accumulated impairment losses, commencing from the month in which the relevant asset begins generating
revenue.

The estimated useful lives range as follows:
Development costs 10 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and estimated fee chargeable less costs expected to be incurred to completion.

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.


ENVOREM LIMITED (REGISTERED NUMBER: 11768411)

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.

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


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024 390,314
Additions 393,775
At 31 December 2024 784,089
AMORTISATION
At 1 January 2024 39,031
Charge for year 78,409
At 31 December 2024 117,440
NET BOOK VALUE
At 31 December 2024 666,649
At 31 December 2023 351,283

ENVOREM LIMITED (REGISTERED NUMBER: 11768411)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 1,173,456 1,467 12,312 1,187,235
Additions 429,609 - 2,500 432,109
At 31 December 2024 1,603,065 1,467 14,812 1,619,344
DEPRECIATION
At 1 January 2024 120,715 134 9,145 129,994
Charge for year 135,402 147 2,423 137,972
At 31 December 2024 256,117 281 11,568 267,966
NET BOOK VALUE
At 31 December 2024 1,346,948 1,186 3,244 1,351,378
At 31 December 2023 1,052,741 1,333 3,167 1,057,241

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 350,773 -
Other debtors 16,500 16,500
VAT 7,208 31,691
Prepayments and accrued income 9,583 20,182
384,064 68,373

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts (see note 9) 70,386 2,852
Other loans (see note 9) 140,259 -
Trade creditors 29,893 75,523
Corporation tax (3,995 ) (3,995 )
Social security and other taxes 55,697 13,789
Other creditors 1,563 1,640
Directors' loan accounts 60,000 60,000
Accrued expenses 444,668 2,000
798,471 151,809

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£    £   
Bank loans (see note 9) 1,889,248 1,892,173

Amounts falling due in more than five years:

Repayable by instalments
Bank loans >5 years payable
by instalments 1,369 4,600
1,369 4,600

ENVOREM LIMITED (REGISTERED NUMBER: 11768411)

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


9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
as restated
£    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 year 70,386 2,852
Other loans 140,259 -
210,645 2,852

Amounts falling due between one and two years:
Bank loans 70,460 2,924

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,817,419 1,884,649

Amounts falling due in more than five years:

Repayable by instalments
Bank loans >5 years payable
by instalments 1,369 4,600
1,369 4,600

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
as restated
£    £   
Within one year 55,000 55,000
Between one and five years - 4,583
55,000 59,583