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Registered number: 09187015
EVERGREEN CAPITAL INVESTMENT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2021
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EVERGREEN CAPITAL INVESTMENT LIMITED
REGISTERED NUMBER: 09187015
BALANCE SHEET
AS AT 31 DECEMBER 2021
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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EVERGREEN CAPITAL INVESTMENT LIMITED
REGISTERED NUMBER: 09187015
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 September 2022.
The notes on pages 3 to 11 form part of these financial statements.
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EVERGREEN CAPITAL INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
1.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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EVERGREEN CAPITAL INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
1.Accounting policies (continued)
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Investments in subsidiaries are measured at cost less accumulated impairment.
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Associates and joint ventures
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Associates and Joint Ventures are held at cost less impairment.
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EVERGREEN CAPITAL INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
1.Accounting policies (continued)
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Name; Evergreen Capital Investment Limited
Country of incorporation; England and Wales
Registered Office; 1 Kings Meadow Osney Mead, Ferry Hinksey Road, Oxford, OX2 0DP
The company's principal activity is that of making and holding invesments.
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The average monthly number of employees, including directors, during the year was 5 (2020 - 4).
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EVERGREEN CAPITAL INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
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Investments in subsidiary companies
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Investments in associates
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EVERGREEN CAPITAL INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
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Due after more than one year
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Due from participating interests
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Amounts owed by group undertakings
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Amounts owed by joint ventures and associated undertakings
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Cash and cash equivalents
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EVERGREEN CAPITAL INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Amounts owed to joint ventures
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Other taxation and social security
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Creditors: Amounts falling due after more than one year
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Analysis of the maturity of loans is given below:
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Amounts falling due 1-2 years
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EVERGREEN CAPITAL INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
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Financial assets measured at fair value through profit or loss
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Financial assets measured at fair value through profit or loss comprise; Cash at bank and in hand
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The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £25,932 (2020 - £21,035). Contributions totalling £NIL (2020 - £89) were payable to the fund at the balance sheet date
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EVERGREEN CAPITAL INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
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Related party transactions
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During the year the company provided goods and services on normal commercial terms to its following subsidiary and associate undertakings;
Infinity Technology Holdings Limited
Infinity Technology Europe Limited
Infinity Technology Europe S.A
Maxim Computer Services Limited
Zoom Japan UK Ltd
NBS Europe Limited
Amounts outstanding at the balance sheet date for these transactions are disclosed within Debtors due
within one year; Trade Debtors and Creditors: Amounts falling due within one year; Trade creditors.
The company has advanced funds to its subsidary, Infinity Technology Holdings Limited. The amount is interest free and unsecured, details of the balance are set out below and disclosed within Debtors due with one year; Amounts owed by group undertakings.
The company has advanced funds to the following companies incorporated in Belgium in which Mr H Iwsaki has a significant interest;
NBS Sprl
Anchor 119 Sprl
The amount are advanced on normal comercial terms and disclosed within Debtors:Due after more than one year.
The company has received advances from its subsidiary Maxim Computer Services Limited. The amounts were repaid during the year and were interest free and unsecured. Details of the balance are set out below and disclosed within Debtors due with one year; Amounts owed to group undertakings.
The company received advances from Anchor Management Europe Limited of which Mr H & Mrs K Iwasaki have a significant interest. The amounts is interest free and unsecured, details of the balance are set out below and disclosed within Creditors: Amounts falling due within one year; Amounts owed to joint ventures.
The directors of the company, Mr H & Mrs K Iwasaki, have advanced funds to the company, interest free
and unsecured. Details of the balance are set out below and disclosed within Other Creditors; Amounts
falling due within one year.
During the year the company paid total dividends of £72,000 (2020; £72,000) to the Directors.
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Infinity Technology Holdings Limited
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Maxim Computer Services Limited
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Anchor Management Europe Limited
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EVERGREEN CAPITAL INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021
12.Related party transactions (continued)
The directors controls the company by virtue of their shareholding.
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