REGISTERED NUMBER: 10779395 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2024

FOR

EVERGREEN SHUTTERS LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Director:

C Haughton

Registered office:

Apex House

Coldnose Road

Skylon Park

Hereford

HR2 6JL

Registered number:

10779395 (England and Wales)

Fixed assets

Intangible assets

4

4,707

5,135

Tangible assets

5

129,211

124,503

133,918

129,638

Current assets

Stocks

6

639,760

370,216

Debtors

7

197,478

156,666

Cash at bank

161,448

245,169

998,686

772,051

Creditors

Amounts falling due within one year

8

2,351,881

1,939,776

Net current liabilities

(1,353,195

)

(1,167,725

)

Total assets less current liabilities

(1,219,277

)

(1,038,087

)

Creditors

Amounts falling due after more than one year

9

(5,000

)

(15,000

)

Provisions for liabilities

12

(31,800

)

-

Net liabilities

(1,256,077

)

(1,053,087

)

Capital and reserves

Called up share capital

13

100

100

Retained earnings

(1,256,177

)

(1,053,187

)

Shareholders' funds

(1,256,077

)

(1,053,087

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24th September 2025 and were signed by:

C Haughton - Director

1.	Statutory information

Evergreen Shutters Limited 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.

The balance sheet at the year end shows net liabilities of £1,256,077 which includes loans from group undertakings of £2,167,141. The director considers that the company is able to meet its obligations as they fall due and confirms that the group undertakings will continue to support the company. Therefore he considers it appropriate to adopt the going concern basis in preparing these accounts.

Turnover

The turnover represents net invoiced sales, excluding value added tax, of goods supplied to customers during the year.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents & licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.

Depreciation is provided at the following rates in order to write off each asset over its estimated useful life:

Plant & machinery 20% straight line

Office equipment 20% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, aremeasured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 deducing all of its liabilities.

Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation

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

Operating leases

The cost of operating leases is charged to the profit and loss account on a straight line basis over the lease term.

Pension costs & 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 (including officers)

The average number of employees during the year was 20 (2023 - 20 ) .

4.	Intangible fixed assets

Patents &

licences

£

Cost

At 1st January 2024

7,248

Additions

330

At 31st December 2024

7,578

Amortisation

At 1st January 2024

2,113

Amortisation for year

758

At 31st December 2024

2,871

Net book value

At 31st December 2024

4,707

At 31st December 2023

5,135

5.	Tangible fixed assets

Plant &

Office

machinery

equipment

Totals

£

£

£

Cost

At 1st January 2024

204,694

46,188

250,882

Additions

62,891

3,600

66,491

Disposals

-

(8,444

)

(8,444

)

At 31st December 2024

267,585

41,344

308,929

Depreciation

At 1st January 2024

89,320

37,059

126,379

Charge for year

53,515

8,268

61,783

Eliminated on disposal

-

(8,444

)

(8,444

)

At 31st December 2024

142,835

36,883

179,718

Net book value

At 31st December 2024

124,750

4,461

129,211

At 31st December 2023

115,374

9,129

124,503

6.

Stocks

31.12.24

31.12.23

£

£

Stocks

639,760

370,216

7.

Debtors: amounts falling due within one year

31.12.24

31.12.23

£

£

Trade debtors

145,689

127,569

Amounts owed by group undertakings

1,162

-

Other debtors

50,627

29,097

197,478

156,666

8.

Creditors: amounts falling due within one year

31.12.24

31.12.23

£

£

Bank loans

10,000

10,000

Trade creditors

117,868

91,585

Amounts owed to group undertakings

2,167,141

1,723,351

Social security & other taxes

19,167

44,249

Other creditors

27,705

62,919

Accruals & deferred income

10,000

7,672

2,351,881

1,939,776

9.

Creditors: amounts falling due after more than one year

31.12.24

31.12.23

£

£

Bank loans 1-5 years

5,000

15,000

10.	Leasing agreements

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

31.12.24

31.12.23

£

£

Within one year

48,251

28,735

Between one and five years

33,755

23,897

82,006

52,632

11.	Secured debts

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

15,000

25,000

The bounce back loan of £15,000 is secured by the UK Government.

12.	Provisions for liabilities

31.12.24

31.12.23

£

£

Deferred tax

31,800

-

Deferred tax

£

Accelerated capital allowances

32,300

Losses

(500

)

Balance at 31st December 2024

31,800

13.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

30

A Ordinary Shares

£1

30

30

30

B Ordinary Shares

£1

30

30

40

C Ordinary Shares

£1

40

40

100

100

11 D ordinary shares were issued on 14th July 2025.

14.	Contingent liabilities

There were no contingent liabilities at 31st December 2024.

15.	Director's advances, credits and guarantees

During the year, the director used a current account with the company to record amounts due to him and amounts drawn by him. Loans and advances totalling £1,162 and repayments of £1,162 were made during the year. The balance at the year end was transferred to the holding company.

The loans and advances were made interest free and were repayable on demand.

16.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

17.	Ultimate controlling party

The company is a wholly owned subsidiary of Marches Global Holdings Limited.

Company registration number: 14348943

Company registration address: Apex House, Coldnose Road, Hereford, HR2 6JL