| Registered number |
| Registered number: | |||||||
| Balance Sheet | |||||||
| as at |
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| Notes | 2024 | 2023 | |||||
| £ | £ | ||||||
| Fixed assets | |||||||
| Tangible assets | 3 | ||||||
| Investments | 4 | ||||||
| Current assets | |||||||
| Debtors | 5 | ||||||
| Cash at bank and in hand | |||||||
| Creditors: amounts falling due within one year | 6 | ( |
( |
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| Net current assets | |||||||
| Net assets | |||||||
| Capital and reserves | |||||||
| Called up share capital | |||||||
| Profit and loss account | |||||||
| Shareholders' funds | |||||||
| The financial statements were approved and authorised for issue on: | |||||||
| Antonis Theori | |||||||
| Director | |||||||
| Signed on behalf of the board on |
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| Notes to the Accounts | ||||||||
| for the year ended |
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| 1 | Accounting policies | |||||||
| Basis of preparation | ||||||||
The financial statements cover the individual entity , are presented in sterling which is the functional currency of the company and are not rounded. The Financial Statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The significant accounting policies applied in the preparation of these financial statements are set out below. |
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| Turnover | ||||||||
| Loans and Borrowings | ||||||||
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. | ||||||||
| Tangible fixed assets | ||||||||
| Fixtures, fittings, tools and equipment | 20% on straight line | |||||||
| Leasehold improvements | 20% on straight line | |||||||
| Investments in subsidiaries | ||||||||
| Debtors and creditors receivable / payable within one year | ||||||||
| Taxation | ||||||||
| Leased assets | ||||||||
| Pensions | ||||||||
| 2 | Employees | 2024 | 2023 | |||||
| Number | Number | |||||||
| Average number of persons employed by the company | ||||||||
| 3 | Tangible fixed assets | |||||||
| Leasehold Improvements | Fixtures, fittings and equipment | Total | ||||||
| £ | £ | £ | ||||||
| Cost | ||||||||
| At 1 September 2023 | ||||||||
| Additions | - | |||||||
| At 31 August 2024 | ||||||||
| Depreciation | ||||||||
| At 1 September 2023 | ||||||||
| Charge for the year | ||||||||
| At 31 August 2024 | ||||||||
| Net book value | ||||||||
| At 31 August 2024 | ||||||||
| At 31 August 2023 | ||||||||
| 4 | Investments | |||||||
| Investments in | ||||||||
| subsidiary | ||||||||
| undertakings | ||||||||
| £ | ||||||||
| Cost | ||||||||
| At 1 September 2023 | ||||||||
| At 31 August 2024 | ||||||||
| Ethical Bridging Ltd is 100% owned by Ioseph Ltd, a company registered in England with registered office at 9 Vermont Place, Tongwell, Milton keynes, MK15 8JA. | ||||||||
| 5 | Debtors | 2024 | 2023 | |||||
| £ | £ | |||||||
| Trade debtors | ||||||||
| Amounts owed by group undertakings and undertakings in which the company has a participating interest | - | |||||||
| Prepayments & accrued income | 121,966 | 2,255,392 | ||||||
| Other debtors | ||||||||
| 6 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
| £ | £ | |||||||
| Amounts owed to group undertaking | - | |||||||
| Taxation and social security costs | - | |||||||
| Accruals & deferred income | 16,370 | 156,771 | ||||||
| Other loans & finance | - | 1,120,000 | ||||||
| Other creditors | ||||||||
| 7 | Other financial commitments | 2024 | 2023 | |||||
| £ | £ | |||||||
| Total future minimum payments under non-cancellable operating leases | ||||||||
| Within 1 year | 48,000 | 48,000 | ||||||
| Between 1 & 5 years | ||||||||
| 48,000 | 48,000 | |||||||
| 8 | Related party transactions & disclosures | |||||||
| Transactions with Parent Entity | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| Loan due to parent undertaking | - | 9,486,416 | ||||||
| Loan is interest free and repayable on demand. | ||||||||
| Loan due from parent undertaking | 1,005,415 | - | ||||||
| Loan is interest free and repayable on demand. | ||||||||
| Other related parties | ||||||||
| Rent paid to Brick Street Gallery Limited | 48,000 | 31,500 | ||||||
| Consultancy fees paid | - | - | ||||||
| Balance due from connected companies | 7,977,787 | 10,342,575 | ||||||
| Balance due to connected companies | 10,236,415 | 10,606,415 | ||||||
| Included in the balance due to connected company is a loan of £750,000 charged at 7% interest P.A (2023 £1,120,000) | ||||||||
| 9 | Controlling party | |||||||
| 10 | Other information | |||||||
| The company principal place of business is as follows: | ||||||||
| 135 Ballards Lane | ||||||||
| London | ||||||||
| N3 1LJ | ||||||||