REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 APRIL 2023 TO 30 MARCH 2024 |
FOR |
EVOLUTIONDOME LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 APRIL 2023 TO 30 MARCH 2024 |
FOR |
EVOLUTIONDOME LIMITED |
EVOLUTIONDOME LIMITED (REGISTERED NUMBER: 07477146) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
EVOLUTIONDOME LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 Jesus Lane |
Cambridge |
Cambridgeshire |
CB5 8BA |
EVOLUTIONDOME LIMITED (REGISTERED NUMBER: 07477146) |
BALANCE SHEET |
30 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
EVOLUTIONDOME LIMITED (REGISTERED NUMBER: 07477146) |
BALANCE SHEET - continued |
30 MARCH 2024 |
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 |
EVOLUTIONDOME LIMITED (REGISTERED NUMBER: 07477146) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
1. | STATUTORY INFORMATION |
Evolutiondome Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is derived from the hiring and sale of inflatable structures and associated equipment. Turnover is disclosed net of VAT and other sales taxes. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership are transferred to the buyer (usually on dispatch), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Non-refundable deposits are taken to the profit and loss account as they are earned. |
Payments made by clients for future services are deferred until the period in which the service is performed. Where performance of a contract spans more than one financial year-end, income is recognised based on a suitable stage of completion. |
Tangible fixed assets |
Land and buildings Freehold | 2% Straight Line (on buildings only) |
Property improvements | 5% Straight Line |
Plant and machinery | 25% Reducing balance |
Dome Structures | 20% Reducing balance |
Dome support equipment | 10% Reducing balance |
Fixtures, fittings & equipment | 20% Straight Line |
Motor vehicles | 20% Reducing balance |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
EVOLUTIONDOME LIMITED (REGISTERED NUMBER: 07477146) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 material 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 period 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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. |
Grant income |
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received using the performance model. |
The grant will therefore be recognised in other income when the grant proceeds are received or receivable provided the terms of the grant do not impose future performance related conditions. |
If the terms of the grant do impose future performance related conditions, the grant is only recognised in income when the performance related conditions are met. |
Any grants that are received before the recognition criteria is met are recognised in the entity's financial statements as a liability. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
EVOLUTIONDOME LIMITED (REGISTERED NUMBER: 07477146) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) |
At 30 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
Eliminated on disposal | ( |
) |
At 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 31 March 2023 |
Motor | Office |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) |
At 30 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
Eliminated on disposal | ( |
) |
At 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 31 March 2023 |
EVOLUTIONDOME LIMITED (REGISTERED NUMBER: 07477146) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 30 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
At 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 31 March 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
EVOLUTIONDOME LIMITED (REGISTERED NUMBER: 07477146) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts | 58,804 | 45,996 |
Liabilities held under hire purchase agreements are secured against the asset to which they relate. |
10. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 64,184 | 159,396 |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Provided during period | ( |
) |
Balance at 30 March 2024 |
11. | RELATED PARTY DISCLOSURES |
At the balance sheet date the company owed the directors £53,557 (2023: £62,657). The amount is repayable on demand, bears no interest and included within creditors due in one year. |
12. | SHARE CAPITAL |
Share capital at the balance sheet date consists of the following shares: |
Share type |
number ofissued and fully paid shares |
nominalvalue |
2024 |
2023 |
Ordinary A | 494 | 30p | £148 | £148 |
Ordinary B | 196 | 30p | £59 | £59 |
Ordinary C | 50 | 30p | £15 | £15 |
Ordinary D | 20 | 30p | £6 | £6 |
Ordinary E | 40 | 30p | £12 | £12 |
Ordinary F | 200 | 30p | £60 | £60 |
£300 | £300 |
EVOLUTIONDOME LIMITED (REGISTERED NUMBER: 07477146) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
13. | CHANGE IN ACCOUNTING POLICY |
The depreciation rates have been revised to more accurately reflect the estimated useful lives of the assets and to ensure a more appropriate allocation of their cost over those lives. |
The new rates are as follows: |
Asset class | New rate |
Structures and domes | 20% reducing balance |
Plant and machinery | 20% reducing balance |
Office | 20% straight line |
Fixtures and fittings | 20% straight line |
Motor vehicles | 20% reducing balance |
Had these changes not been implemented, depreciation for the year would have been £173,164 higher. |