Company registration number 01205413 (England and Wales)
ETHOS FINANCIAL SOLUTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
ETHOS FINANCIAL SOLUTIONS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ETHOS FINANCIAL SOLUTIONS LTD
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
30 June 2024
31 December 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
28,785
Current assets
Debtors
4
1,682,966
96,528
Cash at bank and in hand
2,279,890
971,352
3,962,856
1,067,880
Creditors: amounts falling due within one year
5
(13,620)
(302,404)
Net current assets
3,949,236
765,476
Total assets less current liabilities
3,949,236
794,261
Provisions for liabilities
-
0
(6,800)
Net assets
3,949,236
787,461
Capital and reserves
Called up share capital
6
3,158
3,158
Share premium account
25,623
25,623
Profit and loss reserves
3,920,455
758,680
Total equity
3,949,236
787,461

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 6 March 2025 and are signed on its behalf by:
Mr A Boyle
Mr WJ Palmer
Director
Director
Company registration number 01205413 (England and Wales)
ETHOS FINANCIAL SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Ethos Financial Solutions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is ProAktive House, Sidings Court, White Rose Way, Doncaster, DN4 5NU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 £.

 

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The trading assets of the business were sold on 1 February 2023 as part of an asset purchase agreement. In the proceeding period end the directors are intending to wind up the company. As such the financial statements have not been prepared on a going concern basis. No adjustments have been made in relation to the adoption of the non going concern preparation basis. true

1.3
Turnover
Turnover represents commissions received and receivable for business submitted during the year.
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% on cost
Office furniture and equipment
10% - 20% on cost
Computer equipment
33.33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

ETHOS FINANCIAL SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.
1.7
Retirement benefits
The company makes contributions to various independent pension schemes on behalf of directors and staff. All pension costs are charged in the year in which they are incurred.
1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2022
Number
Number
Total
4
21
ETHOS FINANCIAL SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 4 -
3
Tangible fixed assets
Leasehold improvements
Office furniture and equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 January 2023
36,712
42,682
77,502
156,896
Additions
-
0
-
0
1,266
1,266
Disposals
(36,712)
(42,682)
(78,768)
(158,162)
At 30 June 2024
-
0
-
0
-
0
-
0
Depreciation
At 1 January 2023
36,712
28,940
62,459
128,111
Depreciation charged in the period
-
0
245
600
845
Eliminated in respect of disposals
(36,712)
(29,185)
(63,059)
(128,956)
At 30 June 2024
-
0
-
0
-
0
-
0
Carrying amount
At 30 June 2024
-
0
-
0
-
0
-
0
At 31 December 2022
-
0
13,742
15,043
28,785
4
Debtors
2024
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
188,844
-
0
Amounts owed by group undertakings
30,659
51,856
Other debtors
1,463,463
44,672
1,682,966
96,528
5
Creditors: amounts falling due within one year
2024
2022
£
£
Trade creditors
360
7,488
Corporation tax
-
0
103,652
Other taxation and social security
-
0
13,995
Other creditors
13,260
177,269
13,620
302,404
ETHOS FINANCIAL SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 5 -
6
Called up share capital
2024
2022
2024
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3,158
3,158
3,158
3,158
7
Parent company

The company is a wholly owned subsidiary of Boypal Limited, which is an incorporated business registered in the UK. The registered office and principal place of business of Boypal Limited is Proaktive House, Sidings Court, White Rose Way, Doncaster, South Yorkshire, DN4 5NU.

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