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Registered number:
FOR THE PERIOD ENDED 31 JANUARY 2025
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EVOLVE B G HOLDINGS LIMITED
COMPANY INFORMATION
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EVOLVE B G HOLDINGS LIMITED
CONTENTS
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EVOLVE B G HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE PERIOD ENDED 31 JANUARY 2025
Evolve Business Group offers proactive and human-centric digital solutions to keep businesses running smoothly 24/7/365. With smart systems and agile procedures; including a fully manned, multilingual support desk, Evolve identify and fix problems before they are even noticed by their customers. With four primary services - SD-WAN (EvolveWAN), IT support (EvolveIT), Business Connectivity (EvolveISP) and Guest Wi-Fi (EvolveODM), - they provide one-stop solutions for all telecom needs. Their SD-WAN technology allows Evolve Business Group to deliver top-spec hardware with software-defined WAN paths that offer layers of redundancy, ensuring high availability and cloud-based control. Evolve's core ethos for its employees is acting with pace, curiosity and dedication.
Evolve BG Holdings Limited (the “Company”) is a holding company incorporated on 23 July 2024 to facilitate investment from BGF. This is the first reporting period for the newly formed Evolve BG Holdings Group (the “Group”).
Evolve BG Limited, a wholly owned subsidiary of Evolve BG Holdings, is the main trading entity in the Group. There have been no changes to the operations or management of Evolve BG Limited because of the creation of Evolve BG Holdings Limited, and they continue to drive the Group’s revenue and profitability. These Financial Statements have been prepared for the 6-month period from the date of incorporation (23 July 2024) to 31 January 2025. The Group is certified against ISO 9001:2015 Quality Management, ISO 27001:2022 Information Security Management, PCI-DSS and Cyber Essentials. Being a newly formed Group, for the purpose of this report, the directors deem it reasonable to compare the performance of Evolve BG Limited year on year. The main trading entity, Evolve BG Limited, performed strongly over the 12-month period to 31 January 2025 with revenues increasing to £20.7m from £14.4m in FY24 (44% increase year on year) demonstrating the Group’s ability to grow market share. The Group has good visibility of its monthly revenues with 87% of revenue in the year being from recurring sources.
The below are based on the 12-month performance of the main trading entity, Evolve BG Limited to 31 January 2025.
Turnover: £20.7m (2024: £14.4m) Gross Profit: £9.9m (2024: £6.2m) Profit/(loss) before tax: £2.1m (2024: £0.7m loss) Recurring revenue: £18.1m (2024: £13.8m) Average number of employees: 117 (2024: 70)
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EVOLVE B G HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2025
The directors regularly review the business risks and uncertainties in the Group. The key ones are deemed to be:
Increased Competition The telecommunications and managed network services markets could become more competitive resulting increased competition for the Group. As a Group, we embrace this by continuously striving for customer service excellence and maintaining a relentless focus on improving customer site uptime and service levels across the board. Our commitment to unparalleled service ensures that we not only thrive amidst the intensifying competition but also emerge as industry leaders, setting new standards for customer satisfaction and overall performance. Key Resources The Group is managed by key personnel, including executive directors and senior management who have significant experience within the Group and may be difficult to replace. Additionally, the Group depends on being able to recruit and retain skilled employees to provide exceptional levels of customer service to new and existing clients. The Group is mitigating this risk by investing in additional highly skilled senior management and succession planning. This strategic approach not only safeguards the continuity of our operations but also reinforces our commitment to consistently deliver top-notch service to our valued clients. Customer Concentration The Group has historically had a relatively high level of customer concentration, with a small number of customers accounting for a significant proportion of revenue. While this concentration has reduced over the past 12 months, it remains a key area of focus. The Group is mitigating this risk through heavy investment in the sales and business development function. This investment has already started to pay off as significant progress in this area has been seen due to the increased focus. Supplier Dependence The Group relies on a limited number of key technology suppliers. Any disruption to these services could impact operational performance. This risk is mitigated by strong, long-standing relationships with suppliers and a network of alternative providers to ensure business continuity if needed. Data Protection and IT Security The Group handles confidential data and therefore data protection and IT security are critical. There is a risk that a data breach or security issue could cause irreparable reputational damage to the brand resulting in loss of customers. This could also have legal or regulatory implications. The Group is mitigating this risk through processes and procedures coupled with data protection policies and training across all employees and continual upgrading of software and security equipment as well as continual monitoring and assessment across the business. The Group has also mitigated our risk in this area through a partnership with Purple WiFi, as a result of this partnership, the Group no longer store personal customer information from the Guest WiFi platform.
As a leading managed network and IT services provider, the Group remains firmly committed to realising ambitious growth targets in the coming financial year ending 31 January 2026 and beyond. This dedication stems from continued investments into critical areas, namely systems/automation and workforce expansion.
The foundations have been laid for seamless scalability to accommodate the evolving needs of the ever-growing customer base and meet the surging demand for developing services.
This report was approved by the board on 7 July 2025 and signed on its behalf.
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EVOLVE B G HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 JANUARY 2025
The Directors present their report and the financial statements for the period ended 31 January 2025.
The Directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The company was incorporated on 23 July 2024 and started trading on this date.
The loss for the period, after taxation, amounted to £911,124.
The directors do not recommend the payment of a dividend.
The Directors who served during the period, and up to the date of this report were:
The Group has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the Group's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.
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EVOLVE B G HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2025
There have been no significant events affecting the Group since the year end.
Under section 487(2) of the Companies Act 2006, AAB Audit & Accountancy Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board on
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EVOLVE B G HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EVOLVE B G HOLDINGS LIMITED
We have audited the financial statements of Evolve B G Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the period ended 31 January 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
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EVOLVE B G HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EVOLVE B G HOLDINGS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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EVOLVE B G HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EVOLVE B G HOLDINGS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the Group and Company operate, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 , UK Taxation legislation, GDPR and UK employment law. We identified the greatest risk of material impact on the financial statements from irregularities including fraud to be:
∙Management override of controls to manipulate the Group’s key performance indicators to meet targets.
∙Timing of revenue recognition.
∙Management judgement applied in calculating provisions.
∙Compliance with relevant laws and regulations which directly impact the financial statements and those that the Group needs to comply with for the purpose of trading.
Our audit procedures to respond to these risks included:
∙Testing of journal entries and other adjustments for appropriateness.
∙Reviewing judgements made by management in their calculation of accounting estimates for potential management bias.
∙Enquiries of management about litigation and claims and inspection of relevant correspondence.
∙Reviewing legal and professional fees to identify indications of actual or potential litigation, claims and any non-compliance with laws and regulations.
∙Analytical procedures to identify any unusual or unexpected trends or relationship.
∙Reviewing minutes of meetings of those charged with governance to identify any matters indicating actual or potential fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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EVOLVE B G HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF EVOLVE B G HOLDINGS LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
Gresham House
5-7 St Pauls Street
LS1 2JG
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EVOLVE B G HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 JANUARY 2025
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EVOLVE B G HOLDINGS LIMITED
REGISTERED NUMBER: 15854579
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 July 2025.
The notes on pages 16 to 36 form part of these financial statements.
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EVOLVE B G HOLDINGS LIMITED
REGISTERED NUMBER: 15854579
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 16 to 36 form part of these financial statements.
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EVOLVE B G HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JANUARY 2025
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EVOLVE B G HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JANUARY 2025
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EVOLVE B G HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 JANUARY 2025
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EVOLVE B G HOLDINGS LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE PERIOD ENDED 31 JANUARY 2025
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
The principal activity of the Group is information technology activities.
Evolve B G Holdings Limited (the "Company") is a private company limited by shares, incorporated and registered in England & Wales in the UK. The registered number is 15854579 and the registered address is EvolveODM, 1 Smithy Court, Smithy Brook Road, Wigan, Lancashire, WN3 6PS.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Parent company disclosure exemptions In preparing the separate financial statements of the parent company, advantage has been taken of the following disclosure exemptions available in FRS 102: - No Statement of cash flows has been presented for the parent company;
The following principal accounting policies have been applied:
The reporting period runs from 23 July 2024 to 31 January 2025, due to it being the first period of account for the Group and Company. As such, there is no comparative information to disclose.
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
2.Accounting policies (continued)
The financial statements have been prepared on the basis that the Group can continue to operate as a going concern.
The Directors are of the opinion, based on forecasts prepared, that the Group has adequate working capital to execute its operations for at least the next 12 months, from the date of approval of the accounts. Having regard to the above, the Directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements
Functional and presentation currency
Transactions and balances
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
2.Accounting policies (continued)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
2.Accounting policies (continued)
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
2.Accounting policies (continued)
Goodwill
Other intangible assets
At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method, with the exception of motor vehicles which are depreciated on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
2.Accounting policies (continued)
The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Group would receive for the asset if it were to be sold at the reporting date. Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an 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.
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
Key sources of estimation uncertainty The estimates and assumptions which have a heightened risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows: Valuation of goodwill and investments Goodwill (for the group) and investments (for the company) represents the value associated with the acquisition of subsidiaries within the group. To assess the recoverability of goodwill each year, the Director's review the results in relation to cash generating units, alongside expected future results. Valuation of investment property The Directors have estimated the value of investment property based on the purchase price in November 2023, current market conditions and sale prices of similar properties in the area. Any significant changes since the date of acquisition are taken into account when making this assessment.
Analysis of turnover by country of destination:
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
11.Taxation (continued)
There were no factors that may affect future tax charges.
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
Page 31
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
Further details of other creditors can be found in note 26. Included within other creditors due after one year is an amount of £3,680,000 in respect of liabilities which fall for payment after more than five years from the reporting date. Interest is charged at 10%.
Included within other creditors due after one year is an amount of £9,150,000 which is secured against a fixed and floating charge over all assets of Evolve B G Holdings Limited and Evolve B G Limited.
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
On incorporation, 1 Ordinary share was issued at a nominal value of £0.0001. On 31 July 2024, this Ordinary share was redesignated as 1 C Ordinary share.
On 31 July 2024, the Company issued 34,810 A Ordinary, 190 B Ordinary, 64,999 C Ordinary and 1,000 D Ordinary shares. All shares have nominal value of £0.0001. Full details of the rights attached to each share class can be obtained from the Company's articles.
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
Share premium account
Foreign exchange reserve
Profit and loss account
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
23.Business combinations (continued)
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £131,506. Contributions totalling £38,734 were payable to the fund at the reporting date and are included in creditors.
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EVOLVE B G HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2025
The Directors believe that there is
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