EVEFIELD DEVELOPMENTS LIMITED Company accounts

COMPANY REGISTRATION NUMBER: 04292262

EVEFIELD DEVELOPMENTS LIMITED

Unaudited Financial Statements

30 November 2024

EVEFIELD DEVELOPMENTS LIMITED

Financial Statements

Year ended 30 November 2024

Contents	Page

Directors' report	1

Statement of income and retained earnings	3

Statement of financial position	4

Notes to the financial statements	6

The following pages do not form part of the financial statements

Accountants report to the board of directors on the preparation of the unaudited statutory financial statements	11

EVEFIELD DEVELOPMENTS LIMITED

Directors' Report

Year ended 30 November 2024

The directors present their report and the unaudited financial statements of the company for the year ended 30 November 2024 .

Directors

The directors who served the company during the year were as follows:

Mr Patel Mukesh Vallabhbhai
Mr P A Amin
Mr Patel Vinay

Dividend declared

Directors recommend that a final dividend of £200 per share is payable for the company's year ended 30th November 2024 in respect of the whole issued share capital of the company.

Events after the end of the reporting period

Events after reporting period indicates that probably company's investment income may be reduced or effected due to the inflationary and post pandemic effect. At this point of time it is not possible to quantify the financial effect on the company.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 18 March 2025 and signed on behalf of the board by:

Mr Patel Mukesh Vallabhbhai	Mr P A Amin
Director	Director

Mr Patel Vinay	Mr Avnish M Patel
Director	Company Secretary

Registered office:

4-5 The Broad way

Crockenhill

SWANLEY

Kent

BR8 8JH

EVEFIELD DEVELOPMENTS LIMITED

Statement of Income and Retained Earnings

Year ended 30 November 2024

	2024	2023
Note	£	£
Turnover	52,750	49,849

	--------	--------
Gross profit	52,750	49,849

Administrative expenses	42,530	34,359
	--------	--------
Operating profit	10,220	15,490

Other interest receivable and similar income		690	832
		--------	--------
Profit before taxation	5	10,910	16,322

Taxation	2,096	3,130
	--------	--------
Profit for the financial year and total comprehensive income	8,814	13,192
	--------	--------

Dividends paid and payable	( 4,800)	( 9,000)

Retained earnings at the start of the year	271,893	267,701
	---------	---------
Retained earnings at the end of the year	275,907	271,893
	---------	---------

All the activities of the company are from continuing operations.

EVEFIELD DEVELOPMENTS LIMITED

Statement of Financial Position

30 November 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		700,562	700,685

Current assets

Debtors	7	908	1,602
Cash at bank and in hand		48,549	62,864
		--------	--------
		49,457	64,466

Creditors: amounts falling due within one year	8	14,790		33,513
		--------		--------
Net current assets			34,667	30,953
			---------	---------
Total assets less current liabilities			735,229	731,638

Provisions

Taxation including deferred taxation:		46,293	46,293

Accruals and deferred income	2,372	2,795
	---------	---------
Net assets	686,564	682,550
	---------	---------

Capital and reserves

Called up share capital	24	24
Revaluation reserve	410,633	410,633
Profit and loss account	275,907	271,893
	---------	---------
Shareholders funds	686,564	682,550
	---------	---------

These financial statements have been prepared 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'.

For the year ending 30 November 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 .

EVEFIELD DEVELOPMENTS LIMITED

Statement of Financial Position (continued)

30 November 2024

These financial statements were approved by the board of directors and authorised for issue on 30 March 2025 , and are signed on behalf of the board by:

Mr Patel Mukesh Vallabhbhai	Mr P A Amin
Director	Director

Mr Patel Vinay
Director

Company registration number: 04292262

EVEFIELD DEVELOPMENTS LIMITED

Notes to the Financial Statements

Year ended 30 November 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 4-5 The Broad way, Crockenhill, SWANLEY, Kent, BR8 8JH.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable which represents rent amounts receivable and services rendered,stated net of discounts and of Value Added Tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	18% reducing balance
Fixtures, fittings and equipment	-	18% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2024	2023
	£	£
Depreciation of tangible assets	123	150
	----	----

6. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
at Valuation
At 1 December 2023 and 30 November 2024	700,000	5,850	900	706,750
	---------	-------	----	---------
Depreciation
At 1 December 2023	–	5,206	859	6,065
Charge for the year	–	116	7	123
	---------	-------	----	---------
At 30 November 2024	–	5,322	866	6,188
	---------	-------	----	---------
Carrying amount
At 30 November 2024	700,000	528	34	700,562
	---------	-------	----	---------
At 30 November 2023	700,000	644	41	700,685
	---------	-------	----	---------

Tangible assets comprising freehold investment properties are stated at directors' valuation on open market value basis as on 30th November 2021.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 30 November 2024
Aggregate cost	284,865
Aggregate depreciation	–
	---------
Carrying value	284,865
	---------

At 30 November 2023
Aggregate cost	284,865
Aggregate depreciation	–
	---------
Carrying value	284,865
	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	–	694
Other debtors	908	908
	----	-------
	908	1,602
	----	-------

Other debtors represents over paid PAYE in the previous years.

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	7,894	5,372
Corporation tax	2,096	3,130
Tenants Deposit Mr & Ms Pushon	–	14,019
Other creditors	4,800	10,992
	--------	--------
	14,790	33,513
	--------	--------

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2024	2023
	£	£
Mr Patel Mukesh Vallabhbhai	–	( 4,746)
	----	-------

EVEFIELD DEVELOPMENTS LIMITED

Management Information

Year ended 30 November 2024

The following pages do not form part of the financial statements.

EVEFIELD DEVELOPMENTS LIMITED

Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of EVEFIELD DEVELOPMENTS LIMITED

Year ended 30 November 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 30 November 2024, which comprise the statement of income and retained earnings, 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.

AMCO CONSULTANCY LIMITED Accountants

781-783 Harrow Road Sudbury Town Wembley United Kingdom HA0 2LP

18 March 2025