Evolution Safety Solutions Ltd - Filleted accounts

Evolution Safety Solutions Ltd - Filleted accounts


Registered number
14538978
Evolution Safety Solutions Ltd
Filleted Accounts
31 December 2023
Evolution Safety Solutions Ltd
Registered number: 14538978
Balance Sheet
as at 31 December 2023
Notes 2023
£
Fixed assets
Tangible assets 3 12,144
Current assets
Debtors 4 33,292
Cash at bank and in hand 19,056
52,348
Creditors: amounts falling due within one year 5 (18,916)
Net current assets 33,432
Total assets less current liabilities 45,576
Creditors: amounts falling due after more than one year 6 (22,526)
Provisions for liabilities (2,307)
Net assets 20,743
Capital and reserves
Called up share capital 2
Profit and loss account 20,741
Shareholders' funds 20,743
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Laura Chisholm
Director
Approved by the board on 12 September 2024
Evolution Safety Solutions Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Vehicle over 4 years
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023
Number
Average number of persons employed by the company 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
Additions 13,572 2,249 15,821
At 31 December 2023 13,572 2,249 15,821
Depreciation
Charge for the year 3,115 562 3,677
At 31 December 2023 3,115 562 3,677
Net book value
At 31 December 2023 10,457 1,687 12,144
4 Debtors 2023
£
Trade debtors 33,292
5 Creditors: amounts falling due within one year 2023
£
Bank loans and overdrafts 9,681
Taxation and social security costs 11,885
Other creditors (2,650)
18,916
6 Creditors: amounts falling due after one year 2023
£
Director's account 22,526
7 Controlling party
The ultimate controlling party during the period was Mark Lewis and Laura Chisholm.
Mark Lewis and Laura Chisholm holds equal share of the issued share capital and are deemed the ultimate controlling party.
8 Other information
Evolution Safety Solutions Ltd is a private company limited by shares and incorporated in Wales. Its registered office is:
Ty Mentor Navigation Park
Abercynon
Mountain Ash
Wales
CF45 4SN
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