6 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-06 Sage Accounts Production Advanced 2023 - FRS102_2023 1 1 1 xbrli:pure xbrli:shares iso4217:GBP 06557331 2023-04-06 2024-04-05 06557331 2024-04-05 06557331 2023-04-05 06557331 2022-04-06 2023-04-05 06557331 2023-04-05 06557331 2022-04-05 06557331 core:PlantMachinery 2023-04-06 2024-04-05 06557331 core:FurnitureFittings 2023-04-06 2024-04-05 06557331 bus:Director1 2023-04-06 2024-04-05 06557331 bus:Director2 2023-04-06 2024-04-05 06557331 core:PlantMachinery 2023-04-05 06557331 core:FurnitureFittings 2023-04-05 06557331 core:PlantMachinery 2024-04-05 06557331 core:FurnitureFittings 2024-04-05 06557331 core:WithinOneYear 2024-04-05 06557331 core:WithinOneYear 2023-04-05 06557331 core:AfterOneYear 2024-04-05 06557331 core:AfterOneYear 2023-04-05 06557331 core:ShareCapital 2024-04-05 06557331 core:ShareCapital 2023-04-05 06557331 core:SharePremium 2024-04-05 06557331 core:SharePremium 2023-04-05 06557331 core:RetainedEarningsAccumulatedLosses 2024-04-05 06557331 core:RetainedEarningsAccumulatedLosses 2023-04-05 06557331 core:CostValuation core:Non-currentFinancialInstruments 2024-04-05 06557331 core:Non-currentFinancialInstruments 2024-04-05 06557331 core:Non-currentFinancialInstruments 2023-04-05 06557331 core:FurnitureFittings 2023-04-05 06557331 bus:SmallEntities 2023-04-06 2024-04-05 06557331 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 06557331 bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 06557331 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 06557331 bus:FullAccounts 2023-04-06 2024-04-05 06557331 core:ComputerEquipment 2023-04-06 2024-04-05 06557331 core:ComputerEquipment 2023-04-05 06557331 core:ComputerEquipment 2024-04-05
COMPANY REGISTRATION NUMBER: 06557331
ETHOS PROPERTY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
5 April 2024
ETHOS PROPERTY LIMITED
STATEMENT OF FINANCIAL POSITION
5 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
15,455
20,118
Investments
6
1
1
---------
---------
15,456
20,119
Current assets
Debtors
7
78,389
86,127
Cash at bank and in hand
11,492
50,164
---------
----------
89,881
136,291
Creditors: amounts falling due within one year
8
86,751
82,253
---------
----------
Net current assets
3,130
54,038
---------
---------
Total assets less current liabilities
18,586
74,157
Creditors: amounts falling due after more than one year
9
16,613
26,459
Provisions
Taxation including deferred tax
3,864
5,029
---------
---------
Net (liabilities)/assets
( 1,891)
42,669
---------
---------
Capital and reserves
Called up share capital
143
143
Share premium account
30,632
30,632
Profit and loss account
( 32,666)
11,894
---------
---------
Shareholders (deficit)/funds
( 1,891)
42,669
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
ETHOS PROPERTY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
5 April 2024
For the year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 November 2024 , and are signed on behalf of the board by:
Mr C P Demetriou
Mr C J Hickey
Director
Director
Company registration number: 06557331
ETHOS PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 5 APRIL 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 8A Ship Street, Brighton, East Sussex, BN1 1AZ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. No material uncertainties related to conditions that may cast doubt about the ability of the company to continue as a going concern have been identified by the directors.
Revenue recognition
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and equipment
-
20% straight line
Fixtures and fittings
-
20% straight line
Computer equipment
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
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 as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 6 April 2023
15,792
59,452
33,896
109,140
Additions
3,397
3,397
---------
---------
---------
----------
At 5 April 2024
15,792
59,452
37,293
112,537
---------
---------
---------
----------
Depreciation
At 6 April 2023
15,792
43,868
29,362
89,022
Charge for the year
5,006
3,054
8,060
---------
---------
---------
----------
At 5 April 2024
15,792
48,874
32,416
97,082
---------
---------
---------
----------
Carrying amount
At 5 April 2024
10,578
4,877
15,455
---------
---------
---------
----------
At 5 April 2023
15,584
4,534
20,118
---------
---------
---------
----------
6. Investments
Shares in group undertakings
£
Cost
At 6 April 2023 and 5 April 2024
1
----
Impairment
At 6 April 2023 and 5 April 2024
----
Carrying amount
At 5 April 2024
1
----
At 5 April 2023
1
----
7. Debtors
2024
2023
£
£
Trade debtors
71,460
77,226
Other debtors
6,929
8,901
---------
---------
78,389
86,127
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
2,768
3,658
Amounts owed to group undertakings and undertakings in which the company has a participating interest
22,718
40,001
Corporation tax
28,503
8,409
Social security and other taxes
20,108
15,847
Other creditors
2,654
4,338
---------
---------
86,751
82,253
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
16,613
26,459
---------
---------
10. Directors' advances, credits and guarantees
Included within creditors falling due in less than one year are loans to directors' totalling £792 (directors' loans 2023: £323). These loans are interest free and repayable on demand.