1 May 2023 v2024.5.2 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP084979782023-05-012023-12-31084979782023-12-31084979782023-04-3008497978core:WithinOneYear2023-12-3108497978core:WithinOneYear2023-04-3008497978core:ShareCapital2023-12-3108497978core:ShareCapital2023-04-3008497978core:RetainedEarningsAccumulatedLosses2023-12-3108497978core:RetainedEarningsAccumulatedLosses2023-04-3008497978bus:Director12023-05-012023-12-3108497978bus:RegisteredOffice2023-05-012023-12-3108497978core:OfficeEquipment2023-05-012023-12-31084979782022-05-012023-04-3008497978core:PlantMachinery2023-12-3108497978core:PlantMachinery2023-05-0108497978core:PlantMachinery2023-05-012023-12-3108497978core:PlantMachinery2023-04-300849797812023-05-012023-12-3108497978countries:EnglandWales2023-05-012023-12-3108497978bus:AuditExemptWithAccountantsReport2023-05-012023-12-3108497978bus:PrivateLimitedCompanyLtd2023-05-012023-12-3108497978bus:SmallEntities2023-05-012023-12-3108497978bus:FullAccounts2023-05-012023-12-31
Company registration number:
08497978
Ethos Wealth Management Limited
Unaudited Filleted Financial Statements for the period ended
31 December 2023
Ethos Wealth Management Limited
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Ethos Wealth Management Limited
Period ended
31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Ethos Wealth Management Limited
for the period ended
31 December 2023
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Ethos Wealth Management Limited
, as a body, in accordance with the terms of our engagement letter dated 30 April 2013. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Ethos Wealth Management Limited
and state those matters that we have agreed to state to the Board of Directors of
Ethos Wealth Management Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Ethos Wealth Management Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Ethos Wealth Management Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Ethos Wealth Management Limited
. You consider that
Ethos Wealth Management Limited
is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Ethos Wealth Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
A&C Chartered Accountants
Marsland Chambers
1a Marsland Road
Sale Moor
Cheshire
M33 3HP
United Kingdom
Ethos Wealth Management Limited
Statement of Financial Position
31 December 2023
31 Dec 202330 Apr 2023
Note££
Fixed assets    
Tangible assets 5
1,060
 
1,240
 
Current assets    
Debtors 6 -  
7,750
 
Cash at bank and in hand
3,098
 
15,637
 
3,098
 
23,387
 
Creditors: amounts falling due within one year 7
(3,850
)
(16,103
)
Net current (liabilities)/assets
(752
)
7,284
 
Total assets less current liabilities 308   8,524  
Provisions for liabilities
(201
)
(310
)
Net assets
107
 
8,214
 
Capital and reserves    
Called up share capital
99
 
99
 
Profit and loss account
8
 
8,115
 
Shareholders funds
107
 
8,214
 
For the period ending
31 December 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
22 February 2024
, and are signed on behalf of the board by:
A Kelly
Director
Company registration number:
08497978
Ethos Wealth Management Limited
Notes to the Financial Statements
Period ended
31 December 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Marsland Chambers
,
1a Marsland Road
,
Sale Moor
,
Cheshire
,
M33 3HP
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
25% reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the period was
2
(2023:
2.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 May 2023
and
31 December 2023
2,851
 
Depreciation  
At
1 May 2023
1,611
 
Charge
180
 
At
31 December 2023
1,791
 
Carrying amount  
At
31 December 2023
1,060
 
At 30 April 2023
1,240
 

6 Debtors

31 Dec 202330 Apr 2023
££
Other debtors -  
7,750
 

7 Creditors: amounts falling due within one year

31 Dec 202330 Apr 2023
££
Taxation and social security
3,150
 
15,421
 
Other creditors
700
 
682
 
3,850
 
16,103
 

8 Director's advances, credit and guarantees

The following advances and credits to director A Kelly subsisted during the year ended 30 April 2023 and period ended 31 December 2023:
Year ended 30 April 2023
Balance at 01/05/2022: £295 owed to the director.
£95 was loaned to the company in the year.
Balance at 30/04/2023: £390 owed to the director.
Period ended 31 December 2023
Balance at 01/05/2023: £390 owed to the director.
£310 was loaned to the company in the year.
Balance at 31/12/2023: £700 owed to the director.
The above loan is unsecured, interest free and repayable on demand.

9 Controlling party

During the period ended 31 December 2023, the director, A Kelly, controlled the company by virtue of a controlling interest of the issued ordinary share capital.