Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302023-10-01falseNo description of principal activity1111truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03438879 2023-10-01 2024-09-30 03438879 2022-10-01 2023-09-30 03438879 2024-09-30 03438879 2023-09-30 03438879 2022-10-01 03438879 c:Director3 2023-10-01 2024-09-30 03438879 d:Buildings 2023-10-01 2024-09-30 03438879 d:Buildings 2024-09-30 03438879 d:Buildings 2023-09-30 03438879 d:Buildings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03438879 d:PlantMachinery 2023-10-01 2024-09-30 03438879 d:PlantMachinery 2024-09-30 03438879 d:PlantMachinery 2023-09-30 03438879 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03438879 d:MotorVehicles 2023-10-01 2024-09-30 03438879 d:MotorVehicles 2024-09-30 03438879 d:MotorVehicles 2023-09-30 03438879 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03438879 d:FurnitureFittings 2023-10-01 2024-09-30 03438879 d:FurnitureFittings 2024-09-30 03438879 d:FurnitureFittings 2023-09-30 03438879 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03438879 d:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 03438879 d:OtherPropertyPlantEquipment 2024-09-30 03438879 d:OtherPropertyPlantEquipment 2023-09-30 03438879 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03438879 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 03438879 d:FreeholdInvestmentProperty 2024-09-30 03438879 d:FreeholdInvestmentProperty 2023-09-30 03438879 d:FreeholdInvestmentProperty 2 2023-10-01 2024-09-30 03438879 d:CurrentFinancialInstruments 2024-09-30 03438879 d:CurrentFinancialInstruments 2023-09-30 03438879 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 03438879 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 03438879 d:ShareCapital 2024-09-30 03438879 d:ShareCapital 2023-09-30 03438879 d:RevaluationReserve 2023-10-01 2024-09-30 03438879 d:RevaluationReserve 2024-09-30 03438879 d:RevaluationReserve 2023-09-30 03438879 d:OtherMiscellaneousReserve 2023-10-01 2024-09-30 03438879 d:OtherMiscellaneousReserve 2024-09-30 03438879 d:OtherMiscellaneousReserve 2023-09-30 03438879 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 03438879 d:RetainedEarningsAccumulatedLosses 2024-09-30 03438879 d:RetainedEarningsAccumulatedLosses 2023-09-30 03438879 c:FRS102 2023-10-01 2024-09-30 03438879 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 03438879 c:FullAccounts 2023-10-01 2024-09-30 03438879 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03438879 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 03438879 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 03438879 2 2023-10-01 2024-09-30 03438879 f:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 03438879









A.G. EVANS LTD.







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
A.G. EVANS LTD.
REGISTERED NUMBER: 03438879

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
402,271
370,446

Investment property
 5 
950,000
1,100,000

  
1,352,271
1,470,446

Current assets
  

Stocks
 6 
529,832
548,987

Debtors: amounts falling due within one year
 7 
151,392
114,120

Cash at bank and in hand
 8 
618,566
536,625

  
1,299,790
1,199,732

Creditors: amounts falling due within one year
 9 
(459,438)
(420,664)

Net current assets
  
 
 
840,352
 
 
779,068

Total assets less current liabilities
  
2,192,623
2,249,514

Provisions for liabilities
  

Deferred tax
 10 
(82,594)
(59,268)

Net assets
  
2,110,029
2,190,246


Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
 11 
168,158
318,158

Other reserves
 11 
564,313
564,313

Profit and loss account
 11 
1,377,556
1,307,773

  
2,110,029
2,190,246


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Page 1

 
A.G. EVANS LTD.
REGISTERED NUMBER: 03438879
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
M G Evans
Director
Date: 25 June 2025

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
A.G. EVANS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

A.G. Evans Ltd. is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Lodge Way, Chesham Road, Wigginton, Tring, Hertfordshire, HP23 6JG.
The Company's principal activity is that of the sale of scrap metal.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
A.G. EVANS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
A.G. EVANS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
10%
reducing balance
Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
10%
reducing balance
Property improvements
-
10%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
A.G. EVANS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

Page 6

 
A.G. EVANS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
A.G. EVANS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 11).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Property improvements

£
£
£
£
£



Cost or valuation


At 1 October 2023
369,606
1,303,230
723,422
86,200
-


Additions
-
73,873
-
4,420
20,216



At 30 September 2024

369,606
1,377,103
723,422
90,620
20,216



Depreciation


At 1 October 2023
329,373
1,127,271
617,457
37,911
-


Charge for the year on owned assets
4,023
28,951
26,491
5,197
2,022



At 30 September 2024

333,396
1,156,222
643,948
43,108
2,022



Net book value



At 30 September 2024
36,210
220,881
79,474
47,512
18,194



At 30 September 2023
40,233
175,959
105,965
48,289
-
Page 8

 
A.G. EVANS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 October 2023
2,482,458


Additions
98,509



At 30 September 2024

2,580,967



Depreciation


At 1 October 2023
2,112,012


Charge for the year on owned assets
66,684



At 30 September 2024

2,178,696



Net book value



At 30 September 2024
402,271



At 30 September 2023
370,446




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
36,210
40,233


Page 9

 
A.G. EVANS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
1,100,000


Surplus on revaluation
(150,000)



At 30 September 2024
950,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.



At 30 September 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
900,000
900,000


6.


Stocks

2024
2023
£
£

Raw materials and consumables
495,650
537,075

Finished goods and goods for resale
34,182
11,912

529,832
548,987



7.


Debtors

2024
2023
£
£


Trade debtors
139,435
95,304

Prepayments and accrued income
11,957
18,816

151,392
114,120


Page 10

 
A.G. EVANS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
618,566
536,625



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
63,415
60,891

Corporation tax
32,999
-

Other taxation and social security
57,630
53,483

Other creditors
261,172
263,595

Accruals and deferred income
44,222
42,695

459,438
420,664



10.


Deferred taxation




2024
2023


£

£






At beginning of year
59,268
46,548


Charged to profit or loss
23,326
12,720



At end of year
82,594
59,268

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
82,594
59,268

Page 11

 
A.G. EVANS LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Reserves

Revaluation reserve

The revaluation reserve relates to a freehold investment property.

Other reserves

The non-distributable capital reserve is represented by the recognition of the value of assets transferred to the Company from the A G Evans Partnership at a "Fair Value" basis of £578,813, less the deferred taxation provision of £14,500.

Profit and loss account

The profit and loss reserve includes all current and prior retained period profit and losses.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £29,726 (2023 - £26,112) Contributions totalling £nil (2023 - £1,547) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

At the year end, the Company owed £242,830 (2023 - £242,620) to A.G. Evans Holdings Limited, the parent company.

 
Page 12