Everleys Ltd
Registered number: 12144213
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 35,441 62,387
Current assets
Debtors 4 - 30,776
Cash at bank and in hand 438,734 249,356
438,734 280,132
Creditors: amounts falling due within one year 5 (84,442) (45,446)
Net current assets 354,292 234,686
Total assets less current liabilities 389,733 297,073
Creditors: amounts falling due after more than one year 6 (16,477) (30,043)
Net assets 373,256 267,030
Capital and reserves
Called up share capital 2 2
Profit and loss account 373,254 267,028
Shareholders' funds 373,256 267,030
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.
These accounts were approved by the board on 7 May 2025 and signed by:
Mr Olaniyi Kolade
Director
Everleys Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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:
Motor vehicles over 3 years
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 75,176 36,350 111,526
Additions 4,888 - 4,888
At 31 August 2024 80,064 36,350 116,414
Depreciation
At 1 September 2023 24,906 24,233 49,139
Charge for the year 19,717 12,117 31,834
At 31 August 2024 44,623 36,350 80,973
Net book value
At 31 August 2024 35,441 - 35,441
At 31 August 2023 50,270 12,117 62,387
4 Debtors 2024 2023
£ £
Other debtors - 30,776
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 13,566 15,891
Corporation tax 57,376 21,700
Other taxes and social security costs 7,691 3,875
Other creditors 5,809 3,980
84,442 45,446
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 16,477 30,043
7 Other information
Everleys Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 Eversley Way
Croydon
Surrey
CR0 8QR
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