REGISTERED NUMBER: 07024982 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2026

for

Evolution ABS Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

16,537

14,276

16,537

14,276

CURRENT ASSETS

Debtors

6

734,410

659,206

Cash at bank

334,856

287,217

1,069,266

946,423

CREDITORS

Amounts falling due within one year

7

505,192

378,812

NET CURRENT ASSETS

564,074

567,611

TOTAL ASSETS LESS CURRENT LIABILITIES

580,611

581,887

CREDITORS

Amounts falling due after more than one year

8

(17,083

)

(22,083

)

PROVISIONS FOR LIABILITIES

(4,134

)

(3,569

)

NET ASSETS

559,394

556,235

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

559,392

556,233

SHAREHOLDERS' FUNDS

559,394

556,235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2026 and were signed on its behalf by:

Mr D J Knight - Director

1.	STATUTORY INFORMATION

Evolution ABS Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

07024982

Registered office:

Oake House

Silver Street

West Buckland

Wellington

Somerset

TA21 9LR

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and value added tax. It includes administration fees and interest.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, has been fully amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 20% on cost

Financial instruments

Classification

The company holds the following financial instruments:

Short term debtors and creditors; and

Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement

The company has elected to apply the provisions FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2025 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2025

and 31 January 2026

119,695

AMORTISATION

At 1 February 2025

and 31 January 2026

119,695

NET BOOK VALUE

At 31 January 2026

-

At 31 January 2025

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2025

150,232

Additions

9,820

Disposals

(56,142

)

At 31 January 2026

103,910

DEPRECIATION

At 1 February 2025

135,956

Charge for year

7,559

Eliminated on disposal

(56,142

)

At 31 January 2026

87,373

NET BOOK VALUE

At 31 January 2026

16,537

At 31 January 2025

14,276

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

610,248

555,814

Amounts recoverable on contract

95,548

61,182

Other debtors

28,614

42,210

734,410

659,206

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

5,000

5,000

Trade creditors

37,297

15,199

Taxation and social security

282,640

309,883

Other creditors

180,255

48,730

505,192

378,812

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

17,083

22,083

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Between one and five years

1,759

4,122

10.	RELATED PARTY DISCLOSURES

The Company has provided a secured debenture guarantee to Oxbury Bank in relation to the borrowings of certain shareholders of the Company. The Company holds a lien over the shares to which the borrowings relate.

At the Balance Sheet date the debenture, comprising of fixed and floating charges over all assets and undertakings of the company was limited to £100,000.