Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false202023-02-01falsetrueNo description of principal activity18false 06664491 2023-02-01 2024-01-31 06664491 2022-02-01 2023-01-31 06664491 2024-01-31 06664491 2023-01-31 06664491 c:Director2 2023-02-01 2024-01-31 06664491 d:Buildings d:ShortLeaseholdAssets 2023-02-01 2024-01-31 06664491 d:Buildings d:ShortLeaseholdAssets 2024-01-31 06664491 d:Buildings d:ShortLeaseholdAssets 2023-01-31 06664491 d:FurnitureFittings 2023-02-01 2024-01-31 06664491 d:FurnitureFittings 2024-01-31 06664491 d:FurnitureFittings 2023-01-31 06664491 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06664491 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 06664491 d:CurrentFinancialInstruments 2024-01-31 06664491 d:CurrentFinancialInstruments 2023-01-31 06664491 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 06664491 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 06664491 d:ShareCapital 2024-01-31 06664491 d:ShareCapital 2023-01-31 06664491 d:RetainedEarningsAccumulatedLosses 2024-01-31 06664491 d:RetainedEarningsAccumulatedLosses 2023-01-31 06664491 c:OrdinaryShareClass1 2023-02-01 2024-01-31 06664491 c:OrdinaryShareClass1 2024-01-31 06664491 c:OrdinaryShareClass1 2023-01-31 06664491 c:FRS102 2023-02-01 2024-01-31 06664491 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 06664491 c:FullAccounts 2023-02-01 2024-01-31 06664491 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06664491 2 2023-02-01 2024-01-31 06664491 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 06664491 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 06664491 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06664491









ETIK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
ETIK LIMITED
REGISTERED NUMBER: 06664491

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
215,040
249,334

  
215,040
249,334

Current assets
  

Stocks
  
8,502
7,317

Debtors: amounts falling due within one year
 5 
108,601
56,235

Cash at bank and in hand
 6 
223,184
319,829

  
340,287
383,381

Creditors: amounts falling due within one year
 7 
(115,667)
(157,119)

Net current assets
  
 
 
224,620
 
 
226,262

Total assets less current liabilities
  
439,660
475,596

Provisions for liabilities
  

Deferred tax
 8 
(19,480)
(18,015)

  
 
 
(19,480)
 
 
(18,015)

Net assets
  
420,180
457,581


Capital and reserves
  

Called up share capital 
 9 
30,000
30,000

Profit and loss account
  
390,180
427,581

  
420,180
457,581


Page 1

 
ETIK LIMITED
REGISTERED NUMBER: 06664491
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Sadettin Guler
Director

Date: 24 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ETIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Etik Limited is a private company limited by share capital, incorporated in England and Wales, registration number 06664491. The address of the registered office is 291 Green Lanes, London, England, N13 4XS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Sale of goods
The sales of food and beverages are recognised at the point of sale.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ETIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
ETIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
5%
Fixtures and fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
ETIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 20).


4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost


At 1 February 2023
347,935
176,543
524,478


Additions
-
18,352
18,352



At 31 January 2024

347,935
194,895
542,830



Depreciation


At 1 February 2023
193,414
81,729
275,143


Charge for the year on owned assets
17,397
35,250
52,647



At 31 January 2024

210,811
116,979
327,790



Net book value



At 31 January 2024
137,124
77,916
215,040



At 31 January 2023
154,521
94,813
249,334

Page 6

 
ETIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,828
1,066

Other debtors
80,581
29,891

Prepayments and accrued income
26,192
25,278

108,601
56,235



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
223,184
319,829

223,184
319,829



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
22,667

Trade creditors
28,972
34,811

Corporation tax
-
31,280

Other taxation and social security
48,598
38,351

Other creditors
477
34

Accruals and deferred income
37,620
29,976

115,667
157,119



8.


Deferred taxation

Page 7

 
ETIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
 
8.Deferred taxation (continued)




2024


£






At beginning of year
(18,015)


Charged to profit or loss
(1,465)



At end of year
(19,480)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(19,479)
(18,015)

(19,479)
(18,015)


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



30,000 (2023 - 30,000) ordinary shares of £1.00 each
30,000
30,000



10.


Related party transactions

Included within Other Debtors is a loan amount of £20,000 (2023: £nil) due from a company under common control. The loan is unsecured, free of interest and repayable on demand.

 
Page 8