The average number of persons, including directors, employed by the company during the year was as follows:

These financial statements have been prepared in accordance with FRS 105 for the first time, having previously applied FRS 102.  As part of the transition, comparative deferred tax liabilities of £117 as at 31 March 2024, along with a deferred tax expense of £383 recognised in the profit and loss account for the year ended 31 March 2024, have been derecognised.  This has resulted in a corresponding decrease in retained earnings.

Included within current assets is an amount of £21,784 owed to the company arising from the demerger of the previous trading entity, Sandgate Park Limited (SPL).

Receipt of this amount has been delayed due to an ongoing dispute concerning the completion accounts and the resulting balancing payment under the terms of the demerger.

The core issue, which is currently the subject of an expert determination, relates to a £45,000 service charge adjustment included by SPL in the draft completion accounts. The outcome of this determination will affect the final amount recoverable by the company.

Under the terms of the demerger, assets and liabilities were to be divided equally between the former shareholders. Accordingly, if the £45,000 adjustment is fully disregarded, the company would be entitled to a further £22,500 (representing 50% of the adjustment) in addition to the £21,784 currently recognised. Conversely, the recoverable amount may be lower if the adjustment is upheld in full.

The original expert determination process was suspended as the appointed expert was unable to obtain the required information from SPL and their accountants. Consequently, the carrying amount of this debtor will be reviewed by the company once the underlying final accounts and the resulting balancing payment have been accurately established and agreed by both parties.

Evolve Properties (NE) Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Azets Holdings Ltd, Wynyard Park House, Wynyard Avenue, Wynyard, United Kingdom, TS22 5TB.

For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true