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Registered number: 07716768









AETHA CONSULTING LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
AETHA CONSULTING LIMITED
REGISTERED NUMBER: 07716768

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 6 
23,171
22,367

  
23,171
22,367

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 7 
963,861
1,060,369

Cash at bank and in hand
 8 
457,191
660,390

  
1,421,052
1,720,759

Creditors: amounts falling due within one year
 9 
(411,772)
(803,216)

NET CURRENT ASSETS
  
 
 
1,009,280
 
 
917,543

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,032,451
939,910

PROVISIONS FOR LIABILITIES
  

Provisions
 11 
(25,776)
-

  
 
 
(25,776)
 
 
-

NET ASSETS
  
1,006,675
939,910


CAPITAL AND RESERVES
  

Called up share capital 
 12 
3,872
3,960

Capital redemption reserve
  
1,848
1,760

Profit and loss account
  
1,000,955
934,190

  
1,006,675
939,910

Page 1

 
AETHA CONSULTING LIMITED
REGISTERED NUMBER: 07716768
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr A Nagpal
Director

Date: 26 March 2025

The notes on pages 4 to 14 form part of these financial statements.
Page 2

 
AETHA CONSULTING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£


AT 1 AUGUST 2022
4,326
1,394
1,104,110
1,109,830



Profit for the year
-
-
782,220
782,220

Dividends paid
-
-
(879,583)
(879,583)

Purchase of own shares
(366)
366
(72,557)
(72,557)



AT 1 AUGUST 2023
3,960
1,760
934,190
939,910



Profit for the year
-
-
103,638
103,638

Dividends paid
-
-
(20,388)
(20,388)

Purchase of own shares
(88)
88
(16,485)
(16,485)


AT 31 JULY 2024
3,872
1,848
1,000,955
1,006,675


The notes on pages 4 to 14 form part of these financial statements.
Page 3

 
AETHA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


GENERAL INFORMATION

Aetha Consulting Limited (the 'Company') is a private company limited by shares and incorporated in England and Wales. Its registered office and trading address is 24 Hills Road, Cambridge, CB2 1JP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The financial statements have been prepared on a going concern basis which assumes that the Company will have adequate financial resources to continue in operational existence for the foreseeable future.
In making their assessment the directors have considered recent trading performance and forecasts prepared to April 2026. The Company meets its day to day working capital requirements using cash reserves and does not have any bank debt owing. Whilst the forecasts include assumptions about revenue projections, noting the sales pipeline from both existing and new customers combined with the level of cash held at the time of approving the financial statements and the cost base of the Company, which includes several costs that could be scaled back if revenues are below forecast, the directors are satisfied that it is appropriate to adopt the going concern basis.

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

 
AETHA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

For each contract, the customer pays for the value of services based on an invoicing and payment schedule. If services rendered by the Company at the reporting date exceed the payments received to date, an asset is recognised within trade debtors if the sales invoice has been raised or amounts recoverable on long-term contracts if the services rendered have not been invoiced.

 
2.5

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution pension plan for its employees. A defined contribution pension plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
AETHA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Computer software
-
50%
straight line

Page 6

 
AETHA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Long-term leasehold property
-
Over lease term
Office equipment
-
25%
Computer equipment
-
33 - 50%
Bicycles
-
80%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

DEBTORS

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

CREDITORS

Short-term creditors are measured at the transaction price.

 
2.13

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 7

 
AETHA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.14

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 the deduction of all its liabilities.
 
Page 8

 
AETHA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.14
FINANCIAL INSTRUMENTS (CONTINUED)

Basic financial liabilities, which include trade and other creditors, are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.15

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 9

 
AETHA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.



JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Preparation of the financial statements requires management to make significant judgements and accounting estimates that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Although these estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant, the actual results may ultimately differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.
REVENUE RECOGNITION
The Company recognises revenue on contracts during the period of performance, where work has been performed and there is a reasonable expectation of completion of the project. Revenue recognition involves estimating the percentage completion of each contract based on expected effort to complete. These assessments and estimates have a significant impact on the amount and timing of revenue recognised in a financial year.


4.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 20 (2023 - 19).


5.


INTANGIBLE ASSETS




Computer software

£



COST


At 1 August 2023
2,568



At 31 July 2024

2,568



AMORTISATION


At 1 August 2023
2,568



At 31 July 2024

2,568



NET BOOK VALUE



At 31 July 2024
-



At 31 July 2023
-



Page 10

 
AETHA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


TANGIBLE FIXED ASSETS





Long-term leasehold property
Office equipment
Computer equipment
Bicycles
Total

£
£
£
£
£



COST 


At 1 August 2023
4,020
54,630
130,670
2,681
192,001


Additions
752
1,120
20,876
-
22,748


Disposals
-
-
(999)
-
(999)



At 31 July 2024

4,772
55,750
150,547
2,681
213,750



DEPRECIATION


At 1 August 2023
1,536
49,446
115,971
2,681
169,634


Charge for the year on owned assets
429
909
20,606
-
21,944


Disposals
-
-
(999)
-
(999)



At 31 July 2024

1,965
50,355
135,578
2,681
190,579



NET BOOK VALUE



At 31 July 2024
2,807
5,395
14,969
-
23,171



At 31 July 2023
2,484
5,184
14,699
-
22,367


7.


DEBTORS

2024
2023
£
£

Trade debtors
498,007
674,693

Other debtors
15,331
70,416

Prepayments
69,250
68,689

Amounts recoverable on long-term contracts
380,157
212,685

Deferred taxation
1,116
33,886

963,861
1,060,369


Page 11

 
AETHA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


CASH AT BANK AND IN HAND

2024
2023
£
£

Cash at bank and in hand
457,191
660,390


Barclays Bank PLC holds a fixed charge over a bank account held by the Company, totalling £100,000 (2023 - £100,000).


9.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
144,985
103,400

Corporation Tax
23
230,995

Other taxation and social security
40,354
34,557

Other creditors
4,405
142,659

Accruals and deferred income
222,005
291,605

411,772
803,216


Other creditors include contributions of £3,617 (2023 - £3,121) payable to the Company's defined contribution pension scheme at the balance sheet date.


10.


DEFERRED TAXATION




2024
2023


£

£



At beginning of year
33,886
(414)


Charged to profit or loss
(32,770)
34,300



AT END OF YEAR
1,116
33,886

The deferred tax asset is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(5,793)
(5,592)

Short term timing differences
6,909
39,478

1,116
33,886

Page 12

 
AETHA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


PROVISIONS




Dilapidation provision

£


Charged to profit or loss
4,442


Transfer from other creditors
21,334



AT 31 JULY 2024
25,776

Under the lease terms of the property occupied by the Company, there is a requirement for the property to be returned to its original condition at the end of the lease. The dilapidation provision relates to estimated costs of rectification that the Company is liable for under the terms of the lease. 
The amount recognised is the best estimate of the cost to return these properties back to their original condition. The provision is expected to be utilised at the end of the lease in October 2028.


12.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



967,929 (2023 - 879,936) A Ordinary shares of £0.001 each
968
880
967,929 (2023 - 879,936) B Ordinary shares of £0.001 each
968
880
967,929 (2023 - 879,936) D Ordinary shares of £0.001 each
968
880
967,929 (2023 - 879,936) F Ordinary shares of £0.001 each
968
880
NIL (2023 - 439,968) G Ordinary shares of £0.001 each
-
440

3,872

3,960

Shares rank pari passu in all aspects.
On 28 November 2023 the Company repurchased 87,996 G Ordinary shares of £0.001 each for total consideration of £16,485.
On 21 June 2024 87,993 G Ordinary shares of £0.001 each were redesignated to 87,993 A Ordinary shares of £0.001 each. 
On 21 June 2024 87,993 G Ordinary shares of £0.001 each were redesignated to 87,993 B Ordinary shares of £0.001 each. 
On 21 June 2024 87,993 G Ordinary shares of £0.001 each were redesignated to 87,993 D Ordinary shares of £0.001 each. 
On 21 June 2024 87,993 G Ordinary shares of £0.001 each were redesignated to 87,993 F Ordinary shares of £0.001 each. 


Page 13

 
AETHA CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

13.


COMMITMENTS UNDER OPERATING LEASES

At 31 July 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
118,000
117,394

Later than 1 year and not later than 5 years
358,408
476,408

476,408
593,802


14.


RELATED PARTY TRANSACTIONS

During the year a shareholder of the Company provided office maintenance services totalling £1,600 (2023 - £1,600). £NIL remained outstanding at the year end (2023 - £NIL) and accrued expenses of £1,467 (2023 - £667) is included in accruals and deferred income.


15.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 26 March 2025 by Thomas Hamilton (Senior Statutory Auditor) on behalf of Peters Elworthy & Moore.

 
Page 14