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REGISTERED NUMBER: 04281141 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Evolve Electrical Ltd

Evolve Electrical Ltd (Registered number: 04281141)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Evolve Electrical Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTOR: Mr D J Robinson





REGISTERED OFFICE: Unit D10 Upper Lounge,
Pinetrees road
Norwich
Norfolk
NR7 9BB





REGISTERED NUMBER: 04281141 (England and Wales)





ACCOUNTANTS: MLA Advisory
Unit D10 Upper Lounge,
Pinetrees road
Norwich
Norfolk
NR7 9BB

Evolve Electrical Ltd (Registered number: 04281141)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 131,038 95,655
Investments 5 330,000 330,000
461,038 425,655

CURRENT ASSETS
Stocks - 72,440
Debtors 6 291,980 180,124
Cash at bank 567,112 619,629
859,092 872,193
CREDITORS
Amounts falling due within one year 7 468,781 585,053
NET CURRENT ASSETS 390,311 287,140
TOTAL ASSETS LESS CURRENT
LIABILITIES

851,349

712,795

CREDITORS
Amounts falling due after more than
one year

8

(112,059

)

(81,574

)

PROVISIONS FOR LIABILITIES (24,897 ) (18,174 )
NET ASSETS 714,393 613,047

Evolve Electrical Ltd (Registered number: 04281141)

Balance Sheet - continued
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 6 6
Share premium 179,999 179,999
Retained earnings 534,388 433,042
SHAREHOLDERS' FUNDS 714,393 613,047

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 June 2025 and were signed by:





Mr D J Robinson - Director


Evolve Electrical Ltd (Registered number: 04281141)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Evolve Electrical Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Evolve Electrical Ltd (Registered number: 04281141)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all 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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 188,390
Additions 59,061
At 31 December 2024 247,451
DEPRECIATION
At 1 January 2024 92,735
Charge for year 23,678
At 31 December 2024 116,413
NET BOOK VALUE
At 31 December 2024 131,038
At 31 December 2023 95,655

Evolve Electrical Ltd (Registered number: 04281141)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. FIXED ASSET INVESTMENTS
Other
investment
£   
COST
At 1 January 2024
and 31 December 2024 330,000
NET BOOK VALUE
At 31 December 2024 330,000
At 31 December 2023 330,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 135,973 79,857
Other debtors 156,007 100,267
291,980 180,124

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 9,685 9,684
Hire purchase contracts 14,156 10,850
Trade creditors 173,079 168,439
Taxation and social security 86,252 84,020
Other creditors 185,609 312,060
468,781 585,053

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans 6,723 16,408
Hire purchase contracts 105,336 65,166
112,059 81,574

Evolve Electrical Ltd (Registered number: 04281141)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.12.24 31.12.23
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 6,723 16,408