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Company No: 08256970 (England and Wales)

ECODRIVE LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

ECODRIVE LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

ECODRIVE LIMITED

BALANCE SHEET

As at 31 October 2024
ECODRIVE LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,605 2,139
1,605 2,139
Current assets
Debtors 4 3 3,693
3 3,693
Creditors: amounts falling due within one year 5 ( 12,642) ( 9,362)
Net current liabilities (12,639) (5,669)
Total assets less current liabilities (11,034) (3,530)
Net liabilities ( 11,034) ( 3,530)
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account ( 11,035 ) ( 3,531 )
Total shareholder's deficit ( 11,034) ( 3,530)

For the financial 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.

Director's responsibilities:

The financial statements of Ecodrive Limited (registered number: 08256970) were approved and authorised for issue by the Director on 29 July 2025. They were signed on its behalf by:

Mr M J Trevaskis
Director
ECODRIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
ECODRIVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
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

Ecodrive Limited (the Company) is a private company, limited by shares, 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 Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom. The principal place of business is 50 Glendale Crescent, Mount Hawke, Cornwall, TR4 8UH.

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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the service has been provided,

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 [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

The company has no employees.

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 November 2023 6,687 7,850 14,537
At 31 October 2024 6,687 7,850 14,537
Accumulated depreciation
At 01 November 2023 6,410 5,988 12,398
Charge for the financial year 69 465 534
At 31 October 2024 6,479 6,453 12,932
Net book value
At 31 October 2024 208 1,397 1,605
At 31 October 2023 277 1,862 2,139

4. Debtors

2024 2023
£ £
Trade debtors 0 3,473
Other debtors 3 220
3 3,693

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 3,167 3,267
Trade creditors 453 398
Other creditors 9,022 5,697
12,642 9,362

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1