EV Power Ltd iXBRL

EV Power Ltd

Abridged Unaudited Financial Statements

for the financial year ended 31 July 2024

EV Power Ltd

Company Registration Number: NI654303

ABRIDGED BALANCE SHEET

as at 31 July 2024

		2024	2023
	Notes	£	£

Fixed Assets

Tangible assets

21,177

26,471

─────────

Current Assets

Stocks

97,500

88,494

Debtors

28,472

44,464

Cash at bank and in hand

1,269

1,329

─────────

127,241

134,287

─────────

Creditors: amounts falling due within one year

(65,116)

(113,766)

─────────

Net Current Assets

62,125

20,521

─────────

Total Assets less Current Liabilities

83,302

46,992

Creditors:

amounts falling due after more than one year

(3,159)

─────────

Net Assets

83,302

43,833

═════════

Capital and Reserves

Called up share capital

Retained earnings

83,292

43,823

─────────

Shareholders' Funds

83,302

43,833

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.

The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 30 October 2025 and signed on its behalf by



________________________________
Calvin Beattie
Director

EV Power Ltd

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

for the financial year ended 31 July 2024

General Information

EV Power Ltd is a private company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI654303. The registered office of the company is 66 Quarter Road, Camlough, Newry, Co. Down, BT35 7EZ, Northern Ireland which is also the principal place of business of the company. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

The financial statements are for the individual entity EV Power Ltd for the year ended 31 July 2024.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 July 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Fixtures, fittings and equipment

20% Reducing Balance

Motor vehicles

20% Reducing Balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash at bank and in hand

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Abridged Balance Sheet bank overdrafts are shown within Creditors.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including directors, during the financial year was

2024

2023

Number

Number

Employees

═════════


4.	Tangible assets
		Fixtures,	Motor	Total
		fittings and	vehicles
		equipment
		£	£	£
	Cost
	At 1 August 2023	1,228	34,390	35,618
		─────────	─────────	─────────

	At 31 July 2024	1,228	34,390	35,618
		─────────	─────────	─────────
	Depreciation
	At 1 August 2023	599	8,548	9,147
	Charge for the financial year	126	5,168	5,294
		─────────	─────────	─────────
	At 31 July 2024	725	13,716	14,441
		─────────	─────────	─────────
	Net book value
	At 31 July 2024	503	20,674	21,177
		═════════	═════════	═════════
	At 31 July 2023	629	25,842	26,471
		═════════	═════════	═════════

Secured Creditors

A director has given a personal guarantee against a business loan. The balance of the loan at 31 July 2024 was £12,159. This is included in creditors: amounts falling due within 1 year.