IRIS Accounts Production v25.4.0.155 12495880 director 1.4.24 31.3.25 31.3.25 Medium entities true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 12495880 2024-03-31 12495880 2025-03-31 12495880 2024-04-01 2025-03-31 12495880 2023-03-31 12495880 2023-04-01 2024-03-31 12495880 2024-03-31 12495880 ns15:EnglandWales 2024-04-01 2025-03-31 12495880 ns14:PoundSterling 2024-04-01 2025-03-31 12495880 ns10:Director1 2024-04-01 2025-03-31 12495880 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 12495880 ns10:MediumEntities 2024-04-01 2025-03-31 12495880 ns10:Audited 2024-04-01 2025-03-31 12495880 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 12495880 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-04-01 2025-03-31 12495880 ns10:FullAccounts 2024-04-01 2025-03-31 12495880 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 12495880 ns10:RegisteredOffice 2024-04-01 2025-03-31 12495880 ns5:CurrentFinancialInstruments 2025-03-31 12495880 ns5:CurrentFinancialInstruments 2024-03-31 12495880 ns5:ShareCapital 2025-03-31 12495880 ns5:ShareCapital 2024-03-31 12495880 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 12495880 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 12495880 ns5:ShareCapital 2023-03-31 12495880 ns5:RetainedEarningsAccumulatedLosses 2023-03-31 12495880 ns5:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 12495880 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 12495880 ns5:MotorVehicles 2024-04-01 2025-03-31 12495880 ns5:ComputerEquipment 2024-04-01 2025-03-31 12495880 ns5:OwnedAssets 2024-04-01 2025-03-31 12495880 ns5:OwnedAssets 2023-04-01 2024-03-31 12495880 1 2024-04-01 2025-03-31 12495880 1 2023-04-01 2024-03-31 12495880 ns10:OrdinaryShareClass1 2023-04-01 2024-03-31 12495880 ns5:MotorVehicles 2024-03-31 12495880 ns5:ComputerEquipment 2024-03-31 12495880 ns5:MotorVehicles 2025-03-31 12495880 ns5:ComputerEquipment 2025-03-31 12495880 ns5:MotorVehicles 2024-03-31 12495880 ns5:ComputerEquipment 2024-03-31 12495880 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 12495880 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 12495880 ns10:OrdinaryShareClass1 2025-03-31 12495880 ns5:RetainedEarningsAccumulatedLosses 2024-03-31

REGISTERED NUMBER: 12495880 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

EVMET LIMITED

EVMET LIMITED (REGISTERED NUMBER: 12495880)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Director | 3 |

Report of the Independent Auditors | 4 |

Income Statement | 8 |

Other Comprehensive Income | 9 |

Balance Sheet | 10 |

Statement of Changes in Equity | 11 |

Cash Flow Statement | 12 |

Notes to the Cash Flow Statement | 13 |

Notes to the Financial Statements | 14 |

EVMET LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTOR: | D J Evans

| REGISTERED OFFICE: | 7 Lower Brook Street

| Oswestry

| Shropshire

| SY11 2HG

| REGISTERED NUMBER: | 12495880 (England and Wales)

| AUDITORS: | D.R.E. & Co. (Audit) Limited

| 7 Lower Brook Street

| Oswestry

| Shropshire

| SY11 2HG

EVMET LIMITED (REGISTERED NUMBER: 12495880)

STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The director presents his strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

Evmet Ltd is principally engaged in the trading of metal scrap, including ferrous and non-ferrous materials, sourcing from UK and international suppliers for recycling and industrial reuse.

The company achieved a turnover of £48,244,919 for the year (2024: £53,210,612), representing a decrease of 9.3%. The reduction in turnover was deliberate and in line with the company's strategy of focusing on higher-margin grades of material. As a result, profit before tax increased significantly to £2,133,963 (2024: £1,180,952).

At 31 March 2025 the company's net assets stood at £6,362,411 (2024: £4,912,690), supported by strong working capital. The directors consider the company's financial position to be robust and well placed to support continued growth in sustainable recycled metal trading.

KEY PERFORMANCE INDICATORS

KPI |  | Year ended 31 March 2025 |  | Year ended 31 March 2024 |

Turnover |  | £48.24 million |  | £53.21 million |

Gross Profit Margin |  | 4.5% |  | 2.9% |

Profit before tax |  | £2.13 million |  | £1.18 million |

Net profit margin |  | 4.4% |  | 2.2% |

The directors are satisfied that the strategic shift towards higher-value materials has delivered a material improvement in profitability and return on capital.

Environmental matters are central to the business model, with a focus on sustainable sourcing and compliance with recycling regulations. Employee matters are addressed through ongoing health & safety training, competitive remuneration and a stable workforce.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks facing the company include:

- Volatility in global scrap metal prices, influenced by economic trends and supply-demand imbalances; mitigated by active market monitoring, flexible purchasing strategies, and a deliberate focus on higher-margin grades.

- Supply chain and regulatory compliance (Scrap Metal Dealers Act, waste shipment regulations, ESG requirements, and modern slavery risks); managed through rigorous supplier due diligence, ethical sourcing audits, and internal compliance procedures.

- Currency fluctuations on international trades; fully hedged to protect margins.

- General economic slowdown affecting manufacturing demand for recycled metals, compounded by export restrictions and trade policies; addressed through diversified markets, long-term supplier partnerships, and ongoing policy monitoring.

The directors regularly review these risks and believe they are effectively managed to support the company's long-term stability in the scrap trading sector.

ON BEHALF OF THE BOARD:

D J Evans - Director

9 December 2025

EVMET LIMITED (REGISTERED NUMBER: 12495880)

REPORT OF THE DIRECTOR

FOR THE YEAR ENDED 31 MARCH 2025

The director presents his report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of wholesale of metal and metal ores.

DIVIDENDS

An interim dividend of £1,486.51 per share was paid on 31 March 2025. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2025 will be £ 148,651 .

DIRECTOR

D J Evans held office during the whole of the period from 1 April 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- | select suitable accounting policies 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 company will continue in business.

The director is 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 enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, D.R.E. & Co. (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D J Evans - Director

9 December 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

EVMET LIMITED

Opinion

We have audited the financial statements of Evmet Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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 company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's 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 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

EVMET LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of director's remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

EVMET LIMITED

Auditors' responsibilities for the audit of the financial statements

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 a Report of the Auditors 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 financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the client's operating sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to their knowledge of actual, suspected and alleged fraud; and

- reviewing the client's system notes and internal controls.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were

indicative of potential bias;

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims;

- reviewing correspondence with HMRC.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

EVMET LIMITED

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 Report of the Auditors.

Use of our report

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 a Report of the Auditors 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.

Aled Davies FCCA (Senior Statutory Auditor)

for and on behalf of D.R.E. & Co. (Audit) Limited

7 Lower Brook Street

Oswestry

Shropshire

SY11 2HG

9 December 2025

EVMET LIMITED (REGISTERED NUMBER: 12495880)

INCOME STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

TURNOVER | 4 | 48,244,919 |  | 53,210,612 |  |

Cost of sales | (46,060,059 | ) | (51,650,472 | ) |

GROSS PROFIT | 2,184,860 |  | 1,560,140 |  |

Administrative expenses | (93,664 | ) | (374,447 | ) |

OPERATING PROFIT | 6 | 2,091,196 |  | 1,185,693 |  |

Interest receivable and similar income | 42,767 |  | 14,078 |  |

2,133,963 |  | 1,199,771 |  |

Interest payable and similar expenses | 8 | - |  | (18,819 | ) |

PROFIT BEFORE TAXATION | 2,133,963 |  | 1,180,952 |  |

Tax on profit | 9 | (535,591 | ) | (296,946 | ) |

PROFIT FOR THE FINANCIAL YEAR | 1,598,372 |  | 884,006 |  |

EVMET LIMITED (REGISTERED NUMBER: 12495880)

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 1,598,372 |  | 884,006 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,598,372 |  | 884,006 |  |

EVMET LIMITED (REGISTERED NUMBER: 12495880)

BALANCE SHEET

31 MARCH 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 11 | 1,632 |  | 14,637 |  |

CURRENT ASSETS

Stocks | 12 | - |  | 109,585 |  |

Debtors | 13 | 7,438,457 |  | 3,922,937 |  |

Cash at bank | 1,117,940 |  | 1,802,345 |  |

8,556,397 |  | 5,834,867 |  |

CREDITORS

Amounts falling due within one year | 14 | 2,195,618 |  | 936,814 |  |

NET CURRENT ASSETS | 6,360,779 |  | 4,898,053 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 6,362,411 |  | 4,912,690 |  |

CAPITAL AND RESERVES

Called up share capital | 15 | 100 |  | 100 |  |

Retained earnings | 16 | 6,362,311 |  | 4,912,590 |  |

SHAREHOLDERS' FUNDS | 6,362,411 |  | 4,912,690 |  |

The financial statements were approved by the director and authorised for issue on 9 December 2025 and were signed by:

D J Evans - Director

EVMET LIMITED (REGISTERED NUMBER: 12495880)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 April 2023 | 100 |  | 4,148,584 |  | 4,148,684 |  |

Changes in equity

Dividends | - |  | (120,000 | ) | (120,000 | ) |

Total comprehensive income | - |  | 884,006 |  | 884,006 |  |

Balance at 31 March 2024 | 100 |  | 4,912,590 |  | 4,912,690 |  |

Changes in equity

Dividends | - |  | (148,651 | ) | (148,651 | ) |

Total comprehensive income | - |  | 1,598,372 |  | 1,598,372 |  |

Balance at 31 March 2025 | 100 |  | 6,362,311 |  | 6,362,411 |  |

EVMET LIMITED (REGISTERED NUMBER: 12495880)

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | (459,178 | ) | 1,652,995 |  |

Interest paid | - |  | (18,819 | ) |

Tax paid | (119,343 | ) | (918,821 | ) |

Net cash from operating activities | (578,521 | ) | 715,355 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | - |  | (1,526 | ) |

Interest received | 42,767 |  | 14,078 |  |

Net cash from investing activities | 42,767 |  | 12,552 |  |

Cash flows from financing activities

Equity dividends paid | (148,651 | ) | (120,000 | ) |

Net cash from financing activities | (148,651 | ) | (120,000 | ) |

(Decrease)/increase in cash and cash equivalents | (684,405 | ) | 607,907 |  |

Cash and cash equivalents at beginning of year | 2 | 1,802,345 |  | 1,194,438 |  |

Cash and cash equivalents at end of year | 2 | 1,117,940 |  | 1,802,345 |  |

EVMET LIMITED (REGISTERED NUMBER: 12495880)

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 31.3.25 |  | 31.3.24

£ | £ |

| Profit before taxation | 2,133,963 |  | 1,180,952 |  |

| Depreciation charges | 13,005 |  | 13,973 |  |

| Finance costs | - |  | 18,819 |  |

| Finance income | (42,767 | ) | (14,078 | ) |

2,104,201 |  | 1,199,666 |  |

| Decrease in stocks | 109,585 |  | 3,743 |  |

| Increase in trade and other debtors | (3,593,575 | ) | (132,606 | ) |

| Increase in trade and other creditors | 920,611 |  | 582,192 |  |

| Cash generated from operations | (459,178 | ) | 1,652,995 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 1,117,940 |  | 1,802,345 |  |

| Year ended 31 March 2024

| 31.3.24 |  | 1.4.23

£ | £ |

| Cash and cash equivalents | 1,802,345 |  | 1,194,438 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.4.24 | Cash flow | At 31.3.25

£ | £ | £ |

| Net cash |

| Cash at bank | 1,802,345 |  | (684,405 | ) | 1,117,940 |  |

1,802,345 |  | (684,405 | ) | 1,117,940 |  |

| Total | 1,802,345 |  | (684,405 | ) | 1,117,940 |  |

EVMET LIMITED (REGISTERED NUMBER: 12495880)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| Evmet 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. | STATEMENT OF COMPLIANCE

| 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" and the Companies Act 2006.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| The accounts are for the individual entity only.

| The financial statements are presented in Sterling (£), rounded to the nearest £1.

| Significant judgements and estimates

| The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

| The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 12 for the net carrying amount of debtors.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

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

| Motor vehicles | - | 25% on cost

| Computer equipment | - | 33% on cost

| 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

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs, and then subsequently measured at amortised cost. Financial assets classified as receivable within one year are not amortised. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the assets has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| Basic financial liabilities, including creditors and loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

EVMET LIMITED (REGISTERED NUMBER: 12495880)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

3. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 tax assessments 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 and 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Pension costs and 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.

4. | TURNOVER

| The geographical analysis of turnover and the split of turnover by class of business is not disclosed as, in the opinion of the director, to do so would be seriously prejudicial to the company's interests.

5. | EMPLOYEES AND DIRECTORS

| 31.3.25 |  | 31.3.24

£ | £ |

| Wages and salaries | 150,888 |  | 110,000 |  |

| Social security costs | 10,622 |  | 5,739 |  |

| Other pension costs | 2,132 |  | 2,410 |  |

163,642 |  | 118,149 |  |

| The average number of employees during the year was as follows:

| 31.3.25 |  | 31.3.24

| Administration | 2 |  | 2 |  |

| Sales | 2 |  | 2 |  |

4 |  | 4 |  |

EVMET LIMITED (REGISTERED NUMBER: 12495880)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

5. | EMPLOYEES AND DIRECTORS - continued

| 31.3.25 |  | 31.3.24

£ | £ |

| Director's remuneration | 13,490 |  | 12,500 |  |

6. | OPERATING PROFIT

| The operating profit is stated after charging:

| 31.3.25 |  | 31.3.24

£ | £ |

| Depreciation - owned assets | 13,005 |  | 13,973 |  |

7. | AUDITORS' REMUNERATION

| 31.3.25 |  | 31.3.24

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 8,545 |  | 5,360 |  |

8. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 31.3.25 |  | 31.3.24

£ | £ |

| HMRC interest | - |  | 18,819 |  |

9. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 31.3.25 |  | 31.3.24

£ | £ |

| Current tax:

| UK corporation tax | 535,591 |  | 296,946 |  |

| Tax on profit | 535,591 |  | 296,946 |  |

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 31.3.25 |  | 31.3.24

£ | £ |

| Profit before tax | 2,133,963 |  | 1,180,952 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 533,491 |  | 295,238 |  |

| Effects of:

| Depreciation in excess of capital allowances | 2,100 |  | 1,708 |  |

| Total tax charge | 535,591 |  | 296,946 |  |

EVMET LIMITED (REGISTERED NUMBER: 12495880)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

10. | DIVIDENDS

| 31.3.25 |  | 31.3.24

£ | £ |

| Ordinary shares of £1 each

| Interim | 148,651 |  | 120,000 |  |

11. | TANGIBLE FIXED ASSETS

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024

| and 31 March 2025 | 46,400 |  | 8,208 |  | 54,608 |  |

| DEPRECIATION

| At 1 April 2024 | 34,801 |  | 5,170 |  | 39,971 |  |

| Charge for year | 11,599 |  | 1,406 |  | 13,005 |  |

| At 31 March 2025 | 46,400 |  | 6,576 |  | 52,976 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  | 1,632 |  | 1,632 |  |

| At 31 March 2024 | 11,599 |  | 3,038 |  | 14,637 |  |

12. | STOCKS

| 31.3.25 |  | 31.3.24

£ | £ |

| Stocks | - |  | 109,585 |  |

13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade debtors | 6,816,265 |  | 3,285,584 |  |

| Tax | - |  | 78,055 |  |

| VAT | 622,192 |  | 559,298 |  |

7,438,457 |  | 3,922,937 |  |

14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade creditors | 1,501,675 |  | 578,376 |  |

| Tax | 338,193 |  | - |  |

| Social security and other taxes | 4,155 |  | - |  |

| Other creditors | 624 |  | 568 |  |

| Directors' current accounts | 14,247 |  | 14,247 |  |

| Accruals and deferred income | 336,724 |  | 343,623 |  |

2,195,618 |  | 936,814 |  |

EVMET LIMITED (REGISTERED NUMBER: 12495880)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

15. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

| The shares have full voting rights, are eligible for dividends and carry the right to participate in a distribution (including on winding up).

16. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2024 | 4,912,590 |  |

| Profit for the year | 1,598,372 |  |

| Dividends | (148,651 | ) |

| At 31 March 2025 | 6,362,311 |  |

| Retained earnings includes all current and prior period retained profits and losses.

17. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is D J Evans.