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Company No: 08439595 (England and Wales)

UK EVOLVE LIMITED

(A company limited by guarantee)

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

UK EVOLVE LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

UK EVOLVE LIMITED

BALANCE SHEET

As at 31 March 2025
UK EVOLVE LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 21,861 23,529
21,861 23,529
Current assets
Debtors 4 59,072 53,477
Cash at bank and in hand 135,567 134,906
194,639 188,383
Creditors: amounts falling due within one year 5 ( 29,532) ( 28,132)
Net current assets 165,107 160,251
Total assets less current liabilities 186,968 183,780
Provision for liabilities ( 4,154) ( 4,304)
Net assets 182,814 179,476
Reserves
Profit and loss account 182,814 179,476
Total reserves 182,814 179,476

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of UK Evolve Limited (registered number: 08439595) were approved and authorised for issue by the Board of Directors on 19 June 2025. They were signed on its behalf by:

Mr M R Bowern
Director
UK EVOLVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
UK EVOLVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

UK Evolve Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Pavers, Northmostown, Sidmouth, EX10 0NL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown new of value added tax, returns and rebates and discounts and after eliminating sales within the company.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 20 % reducing balance
Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 27 26

3. Tangible assets

Plant and machinery Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2024 32,364 9,391 7,162 4,193 53,110
Additions 2,084 0 0 0 2,084
At 31 March 2025 34,448 9,391 7,162 4,193 55,194
Accumulated depreciation
At 01 April 2024 16,416 7,929 4,523 713 29,581
Charge for the financial year 2,626 292 138 696 3,752
At 31 March 2025 19,042 8,221 4,661 1,409 33,333
Net book value
At 31 March 2025 15,406 1,170 2,501 2,784 21,861
At 31 March 2024 15,948 1,462 2,639 3,480 23,529

4. Debtors

2025 2024
£ £
Trade debtors 87 43
Other debtors 58,985 53,434
59,072 53,477

5. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 690 1,036
Taxation and social security 12,590 13,519
Other creditors 16,252 13,577
29,532 28,132