Registration number:
Evyve Projects (No.1) Limited
(formerly
for the Year Ended 31 March 2023
Evyve Projects (No.1) Limited
(Registration number: 13371872)
Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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( |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
( |
( |
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Shareholders' deficit |
( |
( |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Evyve Projects (No.1) Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The company was formerly known as Drive Energi Projects (No.1) Limited.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Disclosure of long or short period
Going concern
As the company is in a net liability position at 31st March 2023 the directors have received confirmation that the parent company, Evyve Holdings (No.1) Limited will continue to provide the necessary level of support to enable the company to operate for the 12 months from signing the financial statements. In considering the ability of Evyve Holdings (No.1) Limited to provide any necessary support, the directors have obtained an understanding of Evyve Holdings (No.1) Limited’s financial standing and the support it has received.
Taking all these factors into account, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the 12 months from signing of the financial statements and therefore continue to adopt the going concern basis in preparing the financial statements.
Evyve Projects (No.1) Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Audit report
Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives.
Asset class |
Depreciation method and rate |
Electrical charging points |
Assets are depreciated when they are fully constructed & operational at varying rates. |
Evyve Projects (No.1) Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Electrical charging points |
Total |
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Cost or valuation |
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At 1 April 2022 |
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Additions |
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At 31 March 2023 |
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Depreciation |
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Charge for the year |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
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Debtors |
Current |
Note |
2023 |
2022 |
Owed by group undertakings |
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- |
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Other debtors |
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Evyve Projects (No.1) Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Owed to group undertakings |
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Accruals and deferred income |
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- |
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Creditors: amounts falling due after more than one year
2023 |
2022 |
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Due after one year |
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Owed to group undertakings |
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- |
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
The total amount of stock order commitments not included in the balance sheet is £4,774,000 (2022 - £Nil).
Evyve Projects (No.1) Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
Related party transactions |
Expenditure with and payables to related parties
2023 |
Parent |
Interest payable |
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Loans to related parties
2023 |
Other related parties |
Total |
Advanced |
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At end of period |
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Loans from related parties
2023 |
Parent |
Other related parties |
Total |
Advanced |
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At end of period |
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The company has taken advantage of the exemption from disclosure of intra group transactions in accordance with FRS102 paragraph 33.1A.
Parent and ultimate parent undertaking |
The parent company is Evyve Holdings (No.1) Limited, a company incorporated in England and Wales, company number 13367650, registered office Dashwood House, 69 Old Broad Street, London, EC2M 1QS
Evyve Holdings (No.1) Limited is 80% owned by Evyve Limited, a company incorporated in England and Wales, company number 11656568, registered office Dashwood House, 69 Old Broad Street, London, EC2M 1QS and 20% owned by Greene King Brewing and Retailing Limited, a company incorporated in England and Wales, company number 03298903 and registered office Westgate Brewery, Bury St Edmunds, Suffolk, IP33 1QT.
The ultimate parent companies of Evyve Limited are Evy Infrastructure Partners Limited and Peel NRE Developments (IOM) Limited.
Evy Infrastucture Partners Limited is a company incorporated in England and Wales, company number 12097912 , registered office 118 Pall Mall, London, England, SW1Y 5EA.
Peel NRE Developments (IOM) Limited is a company incorporated in the Isle of Man, company number 007991V. Its ultimate holding company is Tokenhouse Limited, a company incorporated in the Isle Of Man. Tokenhouse Limited is controlled by the 1997 Billown Settlement. The registered office is Billown Mansion, Ballasalla, Malew, IM9 3DM, Isle of Man