REGISTERED NUMBER: 07024982 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Evolution ABS Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

14,276

24,150

14,276

24,150

CURRENT ASSETS

Debtors

6

659,206

599,379

Cash at bank

287,217

271,093

946,423

870,472

CREDITORS

Amounts falling due within one year

7

378,812

360,925

NET CURRENT ASSETS

567,611

509,547

TOTAL ASSETS LESS CURRENT LIABILITIES

581,887

533,697

CREDITORS

Amounts falling due after more than one year

8

(22,083

)

(27,083

)

PROVISIONS FOR LIABILITIES

(3,569

)

(6,037

)

NET ASSETS

556,235

500,577

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

556,233

500,575

SHAREHOLDERS' FUNDS

556,235

500,577

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2025 and were signed on its behalf by:

Mrs M J Scarrott - Director

1.	STATUTORY INFORMATION

Evolution ABS Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

07024982

Registered office:

Oake House

Silver Street

West Buckland

Wellington

Somerset

TA21 9LR

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 and value added tax. It includes administration fees and interest.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, has been fully amortised evenly over its estimated useful life of five years.

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

-

33% on cost and 20% on cost

Financial instruments

Classification

The company holds the following financial instruments:

Short term debtors and creditors; and

Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement

The company has elected to apply the provisions FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

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 26 (2024 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

119,695

AMORTISATION

At 1 February 2024

and 31 January 2025

119,695

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

199,113

Additions

5,238

Disposals

(54,119

)

At 31 January 2025

150,232

DEPRECIATION

At 1 February 2024

174,963

Charge for year

15,112

Eliminated on disposal

(54,119

)

At 31 January 2025

135,956

NET BOOK VALUE

At 31 January 2025

14,276

At 31 January 2024

24,150

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

555,814

515,864

Amounts recoverable on contract

61,182

59,754

Other debtors

42,210

23,761

659,206

599,379

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

5,000

5,000

Trade creditors

15,199

9,354

Taxation and social security

309,883

281,785

Other creditors

48,730

64,786

378,812

360,925

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

22,083

27,083

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Between one and five years

4,122

5,966