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Registration number: 10344975

Evolution Brands Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Evolution Brands Limited

(Registration number: 10344975)

Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Current assets

 

Debtors

3

517,428

395,353

Cash at bank and in hand

 

202,046

168,005

 

719,474

563,358

Creditors: Amounts falling due within one year

4

(201,282)

(166,143)

Net assets

 

518,192

397,215

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

518,092

397,115

Shareholders' funds

 

518,192

397,215

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 20 March 2025 and signed on its behalf by:
 

.........................................

D Barrington

Director

.........................................

H Clare

Director

 

Evolution Brands Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

Accounting policies

Evolution Brands Limited is a private company, limited by shares, domiciled in England and Wales, company number 10344975. The registered office is at 49 Carrwood Road, Wilmslow, Cheshire, SK9 5DJ, United Kingdom.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A- 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There has been no material departure from this standard.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Evolution Brands Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

3

Debtors

2024
£

2023
£

Trade debtors

36,000

28,800

Other debtors

481,428

366,553

 

517,428

395,353

4

Creditors

2024
£

2023
£

Due within one year

Trade creditors

1,680

-

Taxation and social security

195,102

161,643

Accruals and deferred income

4,500

4,500

201,282

166,143

 

Evolution Brands Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary shares of £1 each

25

25

25

25

B Ordinary shares of £1 each

25

25

25

25

C Ordinary shares of £1 each

35

35

35

35

D Ordinary shares of £1 each

15

15

15

15

100

100

100

100

6

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £26,397(2023 - £52,244).

7

Related party transactions

During the year the directors had loan accounts with the company. At the balance sheet date the amount due from H Clare was £39,721 (2023 - £45,843) and from D Barrington was £375,670 (2023 - £285,204)