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Registered number: 14149322
Ethicronics Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
Max Accountants Ltd
Ketton Suite
The King Centre
Oakham
Rutland
LE15 7WD
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14149322
31 August 2023 31 August 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 17,125 1
Cash at bank and in hand 320 -
17,445 1
Creditors: Amounts Falling Due Within One Year 5 (18,035 ) -
NET CURRENT ASSETS (LIABILITIES) (590 ) 1
TOTAL ASSETS LESS CURRENT LIABILITIES (590 ) 1
NET (LIABILITIES)/ASSETS (590 ) 1
CAPITAL AND RESERVES
Called up share capital 6 1 1
Profit and Loss Account (591 ) -
SHAREHOLDERS' FUNDS (590) 1
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Franck Courbon
Director
29 November 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Ethicronics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14149322 . The registered office is Allia Future Business Centre The Guildhall, Market Square, Cambridge, CB2 3QJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.3. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price including transaction costs.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.
2.4. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: NIL)
1 -
Page 2
Page 3
4. Debtors
31 August 2023 31 August 2022
£ £
Due within one year
Other debtors 17,125 1
5. Creditors: Amounts Falling Due Within One Year
31 August 2023 31 August 2022
£ £
Other creditors 17,719 -
Taxation and social security 316 -
18,035 -
6. Share Capital
31 August 2023 31 August 2022
£ £
Allotted, Called up and fully paid 1 1
Page 3