Silverfin false false 31/10/2023 01/05/2022 31/10/2023 M Mccabe 23/06/2021 I J D Pennington 14/09/2022 22/04/2021 M L J Pennington 22/04/2021 29 January 2024 The principal activity of the Company during the financial period was that of operating a restaurant. 13352785 2023-10-31 13352785 bus:Director1 2023-10-31 13352785 bus:Director2 2023-10-31 13352785 bus:Director3 2023-10-31 13352785 2022-04-30 13352785 core:CurrentFinancialInstruments 2023-10-31 13352785 core:CurrentFinancialInstruments 2022-04-30 13352785 core:Non-currentFinancialInstruments 2023-10-31 13352785 core:Non-currentFinancialInstruments 2022-04-30 13352785 core:ShareCapital 2023-10-31 13352785 core:ShareCapital 2022-04-30 13352785 core:RetainedEarningsAccumulatedLosses 2023-10-31 13352785 core:RetainedEarningsAccumulatedLosses 2022-04-30 13352785 core:Goodwill 2022-04-30 13352785 core:Goodwill 2023-10-31 13352785 core:PlantMachinery 2022-04-30 13352785 core:OfficeEquipment 2022-04-30 13352785 core:PlantMachinery 2023-10-31 13352785 core:OfficeEquipment 2023-10-31 13352785 bus:OrdinaryShareClass1 2023-10-31 13352785 2022-05-01 2023-10-31 13352785 bus:FilletedAccounts 2022-05-01 2023-10-31 13352785 bus:SmallEntities 2022-05-01 2023-10-31 13352785 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-10-31 13352785 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-10-31 13352785 bus:Director1 2022-05-01 2023-10-31 13352785 bus:Director2 2022-05-01 2023-10-31 13352785 bus:Director3 2022-05-01 2023-10-31 13352785 core:Goodwill core:TopRangeValue 2022-05-01 2023-10-31 13352785 core:PlantMachinery 2022-05-01 2023-10-31 13352785 core:OfficeEquipment 2022-05-01 2023-10-31 13352785 2021-04-22 2022-04-30 13352785 core:Goodwill 2022-05-01 2023-10-31 13352785 core:Non-currentFinancialInstruments 2022-05-01 2023-10-31 13352785 bus:OrdinaryShareClass1 2022-05-01 2023-10-31 13352785 bus:OrdinaryShareClass1 2021-04-22 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13352785 (England and Wales)

THE ETHICUREAN LIMITED

Unaudited Financial Statements
For the financial period from 01 May 2022 to 31 October 2023
Pages for filing with the registrar

THE ETHICUREAN LIMITED

Unaudited Financial Statements

For the financial period from 01 May 2022 to 31 October 2023

Contents

THE ETHICUREAN LIMITED

BALANCE SHEET

As at 31 October 2023
THE ETHICUREAN LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 31.10.2023 30.04.2022
£ £
Fixed assets
Intangible assets 3 6,674 10,549
Tangible assets 4 31,636 50,113
38,310 60,662
Current assets
Stocks 5 4,500 9,000
Debtors 6 901 8,768
Cash at bank and in hand 13,264 39,895
18,665 57,663
Creditors: amounts falling due within one year 7 ( 148,238) ( 131,799)
Net current liabilities (129,573) (74,136)
Total assets less current liabilities (91,263) (13,474)
Creditors: amounts falling due after more than one year 8 0 ( 4,248)
Net liabilities ( 91,263) ( 17,722)
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account ( 91,363 ) ( 17,822 )
Total shareholders' deficit ( 91,263) ( 17,722)

For the financial period ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Ethicurean Limited (registered number: 13352785) were approved and authorised for issue by the Director on 29 January 2024. They were signed on its behalf by:

M L J Pennington
Director
M Mccabe
Director
THE ETHICUREAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2022 to 31 October 2023
THE ETHICUREAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2022 to 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

The Ethicurean Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Filers Way, Weston Gateway Business Park, Weston-Super-Mare, BS24 7JP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. This is based on the assumption that the company will secure a sale for its machinery and goodwill that is currently being negotiated. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

Period from
01.05.2022 to
31.10.2023
Period from
22.04.2021 to
30.04.2022
Number Number
Monthly average number of persons employed by the Company during the period, including directors 19 15

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2022 12,917 12,917
At 31 October 2023 12,917 12,917
Accumulated amortisation
At 01 May 2022 2,368 2,368
Charge for the financial period 3,875 3,875
At 31 October 2023 6,243 6,243
Net book value
At 31 October 2023 6,674 6,674
At 30 April 2022 10,549 10,549

4. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 May 2022 49,848 13,426 63,274
Additions 453 0 453
At 31 October 2023 50,301 13,426 63,727
Accumulated depreciation
At 01 May 2022 11,592 1,569 13,161
Charge for the financial period 14,484 4,446 18,930
At 31 October 2023 26,076 6,015 32,091
Net book value
At 31 October 2023 24,225 7,411 31,636
At 30 April 2022 38,256 11,857 50,113

5. Stocks

31.10.2023 30.04.2022
£ £
Stocks 4,500 9,000

6. Debtors

31.10.2023 30.04.2022
£ £
Trade debtors 801 5,100
Other debtors 100 3,668
901 8,768

7. Creditors: amounts falling due within one year

31.10.2023 30.04.2022
£ £
Trade creditors 20,714 28,546
Other taxation and social security 95,908 22,261
Obligations under finance leases and hire purchase contracts 0 14,793
Other creditors 31,616 66,199
148,238 131,799

8. Creditors: amounts falling due after more than one year

31.10.2023 30.04.2022
£ £
Obligations under finance leases and hire purchase contracts 0 4,248

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

31.10.2023 30.04.2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100