Registered number
12778531
Structural Evolution Ltd
Filleted Accounts
31 July 2024
Structural Evolution Ltd
Registered number: 12778531
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 56,926 22,147
Tangible assets 4 52,338 57,856
109,264 80,003
Current assets
Debtors 5 35,843 60,852
Cash at bank and in hand 47,344 35,529
83,187 96,381
Creditors: amounts falling due within one year 6 (31,018) (16,400)
Net current assets 52,169 79,981
Total assets less current liabilities 161,433 159,984
Creditors: amounts falling due after more than one year 7 (102,982) (57,771)
Net assets 58,451 102,213
Capital and reserves
Called up share capital 12 1
Profit and loss account 58,439 102,212
Shareholders' funds 58,451 102,213
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.
Casper Kruger
Director
Approved by the board on 17 April 2025
Structural Evolution Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Computer equipment Straight line over 5 years
Office fixtures and fittings 25% Reducing balance
Motor vehicles 25% Reducing balance
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Intangible fixed assets £
Software:
Cost
At 1 August 2023 24,540
Additions 41,370
At 31 July 2024 65,910
Amortisation
At 1 August 2023 2,393
Provided during the year 6,591
At 31 July 2024 8,984
Net book value
At 31 July 2024 56,926
At 31 July 2023 22,147
Software is now being amortized in equal annual installments over its estimated 10-year economic life. Previously, it was depreciated using a 5% reducing balance method, but this year we changed it to align with the director's intentions.
4 Tangible fixed assets
Computer equipment Office fixtures and fittings Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 27,679 896 48,790 77,365
Additions 9,404 2,359 - 11,763
At 31 July 2024 37,083 3,255 48,790 89,128
Depreciation
At 1 August 2023 6,919 392 12,198 19,509
Charge for the year 7,417 716 9,148 17,281
At 31 July 2024 14,336 1,108 21,346 36,790
Net book value
At 31 July 2024 22,747 2,147 27,444 52,338
At 31 July 2023 20,760 504 36,592 57,856
5 Debtors 2024 2023
£ £
Trade debtors 19,651 3,721
Prepayment 14,198 16,038
Other debtors 1,994 41,093
35,843 60,852
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 11,667 -
Obligations under finance lease and hire purchase contracts 13,078 13,034
Trade creditors 3,817 311
Taxation and social security costs 755 3,055
Other creditors 1,701 -
31,018 16,400
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 58,333 -
Obligations under finance lease and hire purchase contracts 44,649 57,771
102,982 57,771
8 Other information
Structural Evolution Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6&7 Edurance Court
Vivid Approach
Plymouth
Devon
PL14RW
9 Significant control
Mr. Casper Kruger is the ultimate controlling party of the company, wielding complete authority and control over the organization's operations and financial policies. Although the share allotment was agreed upon at the year-end, the shares were issued after the year-end. Following the share allotment, the share structure is as follows: Jodie Hansen holds 11 shares, and Casper Kruger holds 100 shares.
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