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REGISTERED NUMBER: 12471007 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 28 February 2023

for

ETHIKEL LIMITED

ETHIKEL LIMITED (REGISTERED NUMBER: 12471007)






Contents of the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ETHIKEL LIMITED

Company Information
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: A Briah





REGISTERED OFFICE: Global House
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: 12471007 (England and Wales)





ACCOUNTANTS: K J Pittalis and Partners LLP
Chartered Certified Accountants
Global House
303 Ballards Lane
London
N12 8NP

ETHIKEL LIMITED (REGISTERED NUMBER: 12471007)

Statement of Financial Position
28 FEBRUARY 2023

28/2/23 28/2/22
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 83,608 104,510
Tangible assets 5 266 399
83,874 104,909

CURRENT ASSETS
Debtors 6 2,092 3,590
Cash at bank 1,415 14,704
3,507 18,294
CREDITORS
Amounts falling due within one year 7 221,957 213,940
NET CURRENT LIABILITIES (218,450 ) (195,646 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(134,576

)

(90,737

)

PROVISIONS FOR LIABILITIES 8 51 76
NET LIABILITIES (134,627 ) (90,813 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (134,727 ) (90,913 )
SHAREHOLDERS' FUNDS (134,627 ) (90,813 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ETHIKEL LIMITED (REGISTERED NUMBER: 12471007)

Statement of Financial Position - continued
28 FEBRUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2023 and were signed by:





A Briah - Director


ETHIKEL LIMITED (REGISTERED NUMBER: 12471007)

Notes to the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Ethikel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents sales of services net of VAT and trade discounts for using the online platform . Turnover is recognised when customer goods are sold via the online platform.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software will be amortised evenly over its estimated useful life of five years, once it will reach the end of its testing phase in year 3.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 5 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax
losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Going concern
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to the their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate. The major creditor are the directors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

ETHIKEL LIMITED (REGISTERED NUMBER: 12471007)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 March 2022
and 28 February 2023 104,510
AMORTISATION
Charge for year 20,902
At 28 February 2023 20,902
NET BOOK VALUE
At 28 February 2023 83,608
At 28 February 2022 104,510

5. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 March 2022
and 28 February 2023 665
DEPRECIATION
At 1 March 2022 266
Charge for year 133
At 28 February 2023 399
NET BOOK VALUE
At 28 February 2023 266
At 28 February 2022 399

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£ £
Other debtors 2,092 3,590

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£ £
Trade creditors 9,195 2,167
Other creditors 212,762 211,773
221,957 213,940

ETHIKEL LIMITED (REGISTERED NUMBER: 12471007)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. PROVISIONS FOR LIABILITIES
28/2/23 28/2/22
£ £
Deferred tax
Accelerated capital allowances 51 76

Deferred tax
£
Balance at 1 March 2022 76
Provided during year (25 )
Balance at 28 February 2023 51

9. RELATED PARTY DISCLOSURES

Included in creditors there is an amount of £211,262 (2022: £210,273) owed to the directors/shareholders.

10. ULTIMATE CONTROLLING PARTY

The directors control the company by virtue of their direct interest in the whole of the issued share capital.