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REGISTERED NUMBER: 04298748 (England and Wales)






























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ETHITEC LIMITED

ETHITEC LIMITED (REGISTERED NUMBER: 04298748)

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


ETHITEC 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
Leicestershire
LE1 5JN



REGISTERED NUMBER: 04298748 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr P Bott FCA



AUDITORS: Mark J Rees LLP Chartered Accountants
Granville Hall
Granville Road
Leicester
Leicestershire
LE1 7RU

ETHITEC LIMITED (REGISTERED NUMBER: 04298748)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 676,005 676,005
676,005 676,005

CURRENT ASSETS
Cash at bank 3,767 505

CREDITORS
Amounts falling due within one year 6 261,185 293,678
NET CURRENT LIABILITIES (257,418 ) (293,173 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

418,587

382,832

PROVISIONS FOR LIABILITIES 2,000 2,000
NET ASSETS 416,587 380,832

CAPITAL AND RESERVES
Called up share capital 150,000 150,000
Capital redemption reserve 60 60
Retained earnings 266,527 230,772
SHAREHOLDERS' FUNDS 416,587 380,832

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


ETHITEC LIMITED (REGISTERED NUMBER: 04298748)

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


1. STATUTORY INFORMATION

Ethitec 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.

Preparation of consolidated financial statements
The financial statements contain information about Ethitec Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents a management fee and licence fee paid by a subsidiary company Ethical Technology Limited for the services of the directors.

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 - over 10 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

ETHITEC LIMITED (REGISTERED NUMBER: 04298748)

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 makes payments to the directors' private pension schemes. Contributions payable to the schemes are charged to the profit and loss account 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.

Investments
Investments are included at cost less amounts written off.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023
and 30 June 2024 22,094
DEPRECIATION
At 1 July 2023
and 30 June 2024 22,094
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

ETHITEC LIMITED (REGISTERED NUMBER: 04298748)

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


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 676,005
NET BOOK VALUE
At 30 June 2024 676,005
At 30 June 2023 676,005

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 240,112 292,065
Taxation and social security 21,073 1,613
261,185 293,678

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 31,000
Between one and five years - 12,917
- 43,917

The lease agreement is now being paid through Ethical Technology Limited, the subsidiary, and so there is no lease payments falling due for the current 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 prior year, rent was payable under lease by the company totalling £31,000 in respect of freehold property occupied by the company and its subsidiary company, Ethical Technology Limited.

In the current year, rent was paid through the subsidiary company, Ethical Technology, 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%).