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COMPANY REGISTRATION NUMBER: 10991155
Evariste Limited
Filleted Unaudited Financial Statements
31 October 2024
Evariste Limited
Financial Statements
Year ended 31 October 2024
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Evariste Limited
Officers and Professional Advisers
The board of directors
N C Firth
A L Hercot
X Jacq
O Rossanese
Dr Z S Walters
Prof. M Waring
O Watson
Company secretary
Oakwood Corporate Secretary Limited
Registered office
Southdene
Thames Road
Goring
Reading
RG8 9AL
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Evariste Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Evariste Limited
Year ended 31 October 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 October 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
10 January 2025
Evariste Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
Current assets
Debtors
5
54,093
225,733
Cash at bank and in hand
511,397
617,825
---------
---------
565,490
843,558
Creditors: amounts falling due within one year
6
125,403
300,137
---------
---------
Net current assets
440,087
543,421
---------
---------
Total assets less current liabilities
440,087
543,421
Creditors: amounts falling due after more than one year
7
3,228,701
------------
---------
Net (liabilities)/assets
( 2,788,614)
543,421
------------
---------
Capital and reserves
Called up share capital
12,829
12,829
Share premium account
2,959,486
2,959,486
Share options reserve
25,616
Profit and loss account
( 5,786,545)
( 2,428,894)
------------
------------
Shareholders (deficit)/funds
( 2,788,614)
543,421
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Evariste Limited
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 29 July 2025 , and are signed on behalf of the board by:
O Watson
Director
Company registration number: 10991155
Evariste Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Southdene, Thames Road, Goring, Reading, RG8 9AL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Research and development
Research and development expenditure is written off in the period in which it is incurred.
Going concern
In our opinion, on the basis of information and enquiries that are pertinent to the company's circumstances and which we believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular we believe that adequate cash resources will be available to cover the company's requirements for working capital for at least twelve months from the date of signing the financial statements.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Share-based payments
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates. Fair value is determined using an appropriate pricing model. All market conditions and non-vesting conditions are taken into account when estimating the fair value of the shares or share options. As long as all other vesting conditions are satisfied, no adjustment is made irrespective of whether market or non-vesting conditions are met. Where the terms of an equity-settled transaction are modified, an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the fair value of the transaction, as measured at the date of modification. Where an equity-settled transaction is cancelled or settled, it is treated as if it had vested on the date of cancellation or settlement, and any expense not yet recognised in profit or loss is expensed immediately. Cash-settled share-based payment transactions are measured at the fair value of the liability. Until the liability is settled, the fair value of the liability is re-measured at each reporting date and at the date of settlement, with any changes in fair value recognised in profit or loss for the period.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 14 (2023: 11 ).
5. Debtors
2024
2023
£
£
Other debtors
54,093
225,733
--------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
25,858
33,584
Other creditors
99,545
266,553
---------
---------
125,403
300,137
---------
---------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
3,228,701
------------
----
Included within other creditors is £3,125,000 of convertible debt .
8. Share-based payments
The company runs a EMI and non-EMI share option scheme for 12 employees. Vested options at each balance sheet date are expensed to the profit and loss account based upon the weighted average exercise price.