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REGISTERED NUMBER: 02208213 (England and Wales)






























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ETHICAL TECHNOLOGY LIMITED

ETHICAL TECHNOLOGY LIMITED (REGISTERED NUMBER: 02208213)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ETHICAL TECHNOLOGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr S Taylor
Mrs P F Taylor
Mr S Zarb
Mrs A Zarb



SECRETARY: Mrs P F Taylor



REGISTERED OFFICE: 37 Millstone Lane
Leicester
LE1 5JN



REGISTERED NUMBER: 02208213 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr P Bott FCA



AUDITORS: Mark J Rees LLP Chartered Accountants
and Statutory Auditors
Granville Hall
Granville Road
Leicester
LE1 7RU

ETHICAL TECHNOLOGY LIMITED (REGISTERED NUMBER: 02208213)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,584 15,804

CURRENT ASSETS
Debtors 5 831,694 785,827
Cash at bank 1,012,590 839,146
1,844,284 1,624,973
CREDITORS
Amounts falling due within one year 6 1,660,431 1,428,441
NET CURRENT ASSETS 183,853 196,532
TOTAL ASSETS LESS CURRENT
LIABILITIES

212,437

212,336

PROVISIONS FOR LIABILITIES 5,302 5,302
NET ASSETS 207,135 207,034

CAPITAL AND RESERVES
Called up share capital 1,025 1,025
Share premium 15,875 15,875
Retained earnings 190,235 190,134
SHAREHOLDERS' FUNDS 207,135 207,034

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 4 February 2025 and were signed on its behalf by:





Mr S Taylor - Director


ETHICAL TECHNOLOGY LIMITED (REGISTERED NUMBER: 02208213)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Ethical Technology Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax, except in respect of maintenance contracts where turnover is recognised when the company obtains the right to consideration.

An adjustment is made for the unearned portion of invoiced sales, where those sales relate to maintenance contracts, consultancy and support time billed in advance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - at varying rates on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

ETHICAL TECHNOLOGY LIMITED (REGISTERED NUMBER: 02208213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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.

Creditors
Short term trade 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023 237,507
Additions 24,922
Disposals (8,744 )
At 30 June 2024 253,685
DEPRECIATION
At 1 July 2023 221,703
Charge for year 12,142
Eliminated on disposal (8,744 )
At 30 June 2024 225,101
NET BOOK VALUE
At 30 June 2024 28,584
At 30 June 2023 15,804

ETHICAL TECHNOLOGY LIMITED (REGISTERED NUMBER: 02208213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 559,209 466,636
Amounts owed by group undertakings 240,112 292,065
Other debtors 32,373 27,126
831,694 785,827

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 38,733 10,960
Taxation 122,881 52,935
Paye/Ni payable 71,654 63,033
Vat liability 128,407 97,857
Accruals and deferred income 1,298,756 1,203,656
1,660,431 1,428,441

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 12,917 -

The lease agreement was being paid through Ethitec Limited, the parent company, in prior years and so there is no lease payments falling due for the prior financial year.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr P Bott FCA (Senior Statutory Auditor)
for and on behalf of Mark J Rees LLP Chartered Accountants

9. RELATED PARTY DISCLOSURES

During the year rent was payable under lease by the company totalling £31,000 in respect of freehold property occupied by the company and its parent company, Ethitec Limited.

In the prior year, rent was paid through the parent company, Ethitec Limited totalling £31,000.

This property is owned by the personal pension schemes of Mr S Zarb (50%), Mr S Taylor (25%) and Mrs P F Taylor (25%).

10. ULTIMATE PARENT COMPANY

The company's ultimate parent company is Ethitec Limited. The registered office of Ethitec Limited is 37 Millstone Lane, Leicester, Leicestershire, LE1 5JN.