Company No: 11085634 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	35,578		23,033
		35,578		23,033
Current assets
Stocks		16,000		17,000
Debtors	4	31,563		9,554
Cash at bank and in hand		2		2,530
		47,565		29,084
Creditors: amounts falling due within one year	5	( 814,217)		( 728,223)
Net current liabilities		(766,652)		(699,139)
Total assets less current liabilities		(731,074)		(676,106)
Creditors: amounts falling due after more than one year	6	( 1,565)		( 4,512)
Net liabilities		( 732,639)		( 680,618)
Capital and reserves
Called-up share capital		0		0
Share premium account		172,001		172,001
Equity reserve	9	211,928		0
Profit and loss account		( 1,116,568 )		( 852,619 )
Total shareholders' deficit		( 732,639)		( 680,618)

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of H.b. Evelyo Ltd. (registered number: 11085634) were approved and authorised for issue by the Director on 07 September 2026. They were signed on its behalf by:

Philip Everett-Lyons Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

H.b. Evelyo Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Brook House Manor Drive, Clyst St. Mary, Exeter, EX5 1GD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £732,639. The Company is supported through loans from the director and shareholders. The director & shareholders confirm that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Plant and machinery	5 years straight line
Vehicles	33 % reducing balance
Office equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks 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.

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 and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

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

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	3		3

3. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£
Cost
At 01 December 2023	49,083		17,995		7,757		74,835
Additions	3,039		17,478		5,930		26,447
At 30 November 2024	52,122		35,473		13,687		101,282
Accumulated depreciation
At 01 December 2023	30,400		14,867		6,535		51,802
Charge for the financial year	8,397		4,397		1,108		13,902
At 30 November 2024	38,797		19,264		7,643		65,704
Net book value
At 30 November 2024	13,325		16,209		6,044		35,578
At 30 November 2023	18,683		3,128		1,222		23,033

4. Debtors

	2024		2023
	£		£
Trade debtors	24,016		7,433
VAT recoverable	6,326		1,614
Other debtors	1,221		507
	31,563		9,554

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	3,105		3,089
Trade creditors	2,757		7
Amounts owed to director	60,766		27,881
Other loans	732,654		671,769
Accruals	4,047		2,751
Other taxation and social security	6,530		10,879
Other creditors	4,358		11,847
	814,217		728,223

6. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	1,565		4,512

There are no amounts included above in respect of which any security has been given by the small entity.

7. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2024		2023
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	1,420		716

8. Related party transactions

Transactions with owners holding a participating interest in the entity

	2024		2023
	£		£
Amounts owed to the Shareholders, at the balance sheet date	732,654		671,769

No interest is charged and there are no set repayment terms.

Transactions with the entity's director

	2024		2023
	£		£
Amounts owed to the director, at the balance sheet date	60,766		27,881

No interest is charged and there are no set repayment terms.

9. Equity reserve

During the year, the company entered into a Simple Agreement for Future Equity (SAFE) with an investor. Funds received under the agreement have been recognised within other equity reserves. The SAFE does not confer shareholder rights until conversion and is convertible into equity shares upon the occurrence of a qualifying equity financing event, or in accordance with the other conversion and settlement provisions set out in the agreement.