COMPANY REGISTRATION NUMBER:
12036255
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Evolution Cornish Properties Limited |
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Filleted Unaudited Financial Statements |
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Evolution Cornish Properties Limited |
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Statement of Financial Position |
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31 March 2026
Fixed assets
|
Tangible assets |
5 |
883,802 |
883,802 |
|
|
|
|
Current assets
|
Debtors |
6 |
89,126 |
66,065 |
|
Cash at bank and in hand |
282,611 |
420,909 |
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--------- |
--------- |
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371,737 |
486,974 |
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|
|
|
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Creditors: amounts falling due within one year |
7 |
69,395 |
137,675 |
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--------- |
--------- |
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Net current assets |
302,342 |
349,299 |
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------------ |
------------ |
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Total assets less current liabilities |
1,186,144 |
1,233,101 |
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------------ |
------------ |
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Net assets |
1,186,144 |
1,233,101 |
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------------ |
------------ |
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Capital and reserves
|
Called up share capital |
100 |
100 |
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Profit and loss account |
1,186,044 |
1,233,001 |
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------------ |
------------ |
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Shareholders funds |
1,186,144 |
1,233,101 |
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------------ |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
19 October 2026
, and are signed on behalf of the board by:
Company registration number:
12036255
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Evolution Cornish Properties Limited |
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Notes to the Financial Statements |
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Year ended 31 March 2026
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Little Statenborough House, Sandwich Road, Eastry, Sandwich, Kent, CT13 0DH, United Kingdom.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors will continue to support the company and believe that the company will generate a profit in future periods therefore the accounts have been prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2025:
2
).
5.
Tangible assets
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Investment property |
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£ |
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Cost |
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At 1 April 2025 and 31 March 2026 |
883,802 |
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--------- |
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Depreciation |
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At 1 April 2025 and 31 March 2026 |
– |
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--------- |
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Carrying amount |
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At 31 March 2026 |
883,802 |
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--------- |
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At 31 March 2025 |
883,802 |
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--------- |
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6.
Debtors
|
2026 |
2025 |
|
£ |
£ |
|
Other debtors |
89,126 |
66,065 |
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-------- |
-------- |
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7.
Creditors:
amounts falling due within one year
|
2026 |
2025 |
|
£ |
£ |
|
Bank loans and overdrafts |
– |
12,453 |
|
Other creditors |
69,395 |
125,222 |
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-------- |
--------- |
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69,395 |
137,675 |
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--------- |
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8.
Directors' advances, credits and guarantees
At the year end the directors owed the company £nil (2025: £60,670). During the year aggregate advances of £100,258 were made by the directors and aggregate repayments of £161,726 were made by the directors. Interest of £798 was charged on the outstanding balance.