Evans & Partners Ltd.

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Evans & Partners Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 03270474 . The registered office is 9 Bank Road, Kingswood, Bristol, BS15 8LS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

The goodwill attributed to the acquisition of Evans & Partners on 1 April 2014 has been reviewed and during the first 6 years of use is not considered to be impaired as its value is as least as much as the value paid. Thereafter it will be written off over the remainder of its useful life of 20 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

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Evans & Partners Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Plant & Machinery	33.3% reducing balance
Computer Equipment	33.3% reducing balance

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Work in progress is stated at the lower of cost and realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of work in progress over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2.7. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

...CONTINUED

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Evans & Partners Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.8. Taxation - continued

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 15 (2024: 16)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	240,000

As at 31 March 2025	240,000

Amortisation
As at 1 April 2024	68,572
Provided during the period	17,142

As at 31 March 2025	85,714

Net Book Value
As at 31 March 2025	154,286

As at 1 April 2024	171,428

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Evans & Partners Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2024	179	49,206	49,385
Additions	4,851	8,799	13,650

As at 31 March 2025	5,030	58,005	63,035

Depreciation
As at 1 April 2024	99	43,026	43,125
Provided during the period	891	2,312	3,203

As at 31 March 2025	990	45,338	46,328

Net Book Value
As at 31 March 2025	4,040	12,667	16,707

As at 1 April 2024	80	6,180	6,260

6. Stocks

	2025	2024
	£	£
Work in progress	100,571	115,742

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	97,521	115,483
Other debtors	50,258	26,949

	147,779	142,432

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	57,623	27,375
Bank loans and overdrafts	151,508	154,656
Other creditors	39,476	62,082
Taxation and social security	80,763	65,416

	329,370	309,529

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Evans & Partners Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	60,697	74,479

10. Secured Creditors

The bank overdraft is secured by a charge to Lloyds Bank plc, created on 5th July 2016, giving a fixed charge and floating over all freehold and leasehold property, plant and equipment, book debts and goodwill of the business. The bank overdraft is guaranteed by the director.

The Funding Circle Loan is guaranteed by the director and is repayable over 6 years.

The Bounce Back Loan is with Lloyds Bank plc and is 100% secured by the government under the scheme designed to assist businesses and is repayable over 10 years.

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	180	180

12. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	32,182	31,336

	32,182	31,336

13. Directors Advances, Credits and Guarantees

Included within Debtors is the following loan to the director:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Oliver Evans	9,234	8,287	8,332	-	9,189

Interest was charged on this advance at HMRC's official rate and the loan is repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		154,286		171,428
Tangible Assets	5		16,707		6,260

			170,993		177,688
CURRENT ASSETS
Stocks	6	100,571		115,742
Debtors	7	147,779		142,432
Cash at bank and in hand		7,625		8,103

		255,975		266,277
Creditors: Amounts Falling Due Within One Year	8	(329,370 )		(309,529 )

NET CURRENT ASSETS (LIABILITIES)			(73,395 )		(43,252 )

TOTAL ASSETS LESS CURRENT LIABILITIES			97,598		134,436

Creditors: Amounts Falling Due After More Than One Year	9		(60,697 )		(74,479 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(3,131 )		(1,137 )

NET ASSETS			33,770		58,820

CAPITAL AND RESERVES
Called up share capital	11		180		180
Profit and Loss Account			33,590		58,640

SHAREHOLDERS' FUNDS			33,770		58,820