Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31No description of principal activitytrue2024-01-01false23falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06604512 2024-01-01 2024-12-31 06604512 2023-01-01 2023-12-31 06604512 2024-12-31 06604512 2023-12-31 06604512 c:Director2 2024-01-01 2024-12-31 06604512 d:MotorVehicles 2024-01-01 2024-12-31 06604512 d:MotorVehicles 2024-12-31 06604512 d:MotorVehicles 2023-12-31 06604512 d:ComputerEquipment 2024-01-01 2024-12-31 06604512 d:ComputerEquipment 2024-12-31 06604512 d:ComputerEquipment 2023-12-31 06604512 d:CurrentFinancialInstruments 2024-12-31 06604512 d:CurrentFinancialInstruments 2023-12-31 06604512 d:Non-currentFinancialInstruments 2024-12-31 06604512 d:Non-currentFinancialInstruments 2023-12-31 06604512 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 06604512 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06604512 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 06604512 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 06604512 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-12-31 06604512 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 06604512 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-12-31 06604512 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 06604512 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-12-31 06604512 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 06604512 d:ShareCapital 2024-12-31 06604512 d:ShareCapital 2023-12-31 06604512 d:RetainedEarningsAccumulatedLosses 2024-12-31 06604512 d:RetainedEarningsAccumulatedLosses 2023-12-31 06604512 c:FRS102 2024-01-01 2024-12-31 06604512 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 06604512 c:FullAccounts 2024-01-01 2024-12-31 06604512 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06604512 6 2024-01-01 2024-12-31 06604512 1 2024-12-31 06604512 2 2024-12-31 06604512 1 2023-12-31 06604512 2 2023-12-31 06604512 f:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
Registered number: 06604512














ETHICALFIN LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 DECEMBER 2024

 
ETHICALFIN LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
ETHICALFIN LIMITED
REGISTERED NUMBER:06604512

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
  
9,943
9,943

  
9,943
9,943

Current assets
  

Debtors: amounts falling due within one year
 6 
50,604
85,906

Cash at bank and in hand
  
283
1,570

  
50,887
87,476

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(20,347)
(33,680)

Net current assets
  
 
 
30,540
 
 
53,796

Total assets less current liabilities
  
40,483
63,739

Creditors: amounts falling due after more than one year
 8 
(29,211)
(28,534)

  

Net assets
  
11,272
35,205


Capital and reserves
  

Called up share capital 
  
170,000
170,000

Profit and loss account
  
(158,728)
(134,795)

  
11,272
35,205


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 on 24 April 2025.



Page 1

 
ETHICALFIN LIMITED
REGISTERED NUMBER:06604512
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024


Mr A Mele
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ETHICALFIN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Ethicalfin Limited is a company limited by shares incorporated in England and Wales. The registered office is Nova North, 11 Bressenden Place, London, SW1E 5BY.
The principal activity of the Company continued to be that of financial consulting.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided, excluding value added tax.  
Turnover is recognised as earned when, and to the extent that, the Company retains the right to consideration in exchange for its performance and defined by contracts to provide services.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, 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. 
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. 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 the profit and loss account.

Page 3

 
ETHICALFIN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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 basis:

Motor vehicles
-
25.00%
Computer equipment
-
33.33%

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.

 
2.4

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

  
2.5

Basic financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ sterling.

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

 
ETHICALFIN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

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.

  
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

Taxation

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 reporting date in the countries where the Company operates and generates income.



3.


Employees



The average monthly number of employees, including the Directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
3

Page 5

 
ETHICALFIN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost


At 1 January 2024
134
10,303
10,437



At 31 December 2024

134
10,303
10,437



Depreciation


At 1 January 2024
134
10,303
10,437



At 31 December 2024

134
10,303
10,437



Net book value



At 31 December 2024
-
-
-



At 31 December 2023
-
-
-


5.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 January 2024
6,848
9,943
16,791



At 31 December 2024

6,848
9,943
16,791



Impairment


At 1 January 2024
6,848
-
6,848



At 31 December 2024

6,848
-
6,848



Net book value



At 31 December 2024
-
9,943
9,943



At 31 December 2023
-
9,943
9,943

Page 6

 
ETHICALFIN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
25,000
35,000

Other debtors
20,281
20,280

Prepayments and accrued income
5,323
30,626

50,604
85,906



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
6,387
9,519

Trade creditors
3,880
3,242

Other taxation and social security
7,040
12,734

Other creditors
1,213
6,823

Accruals and deferred income
1,827
1,362

20,347
33,680


Within other creditors is a loan of £1,066 (2023 - £1,066)  for which security has been provided over certain assets of the company.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
29,211
28,534


Page 7

 
ETHICALFIN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
6,387
9,519

Amounts falling due 1-2 years

Bank loans
6,387
9,760

Amounts falling due 2-5 years

Bank loans
19,160
18,774

Amounts falling due after more than 5 years

Bank loans
3,664
-

35,598
38,053


Bank loans are secured by the UK Government under the Bounce Back Loan Scheme.


10.


Related party transactions

Included within other creditors is an amount of £2 (2023 - £5,609) owed to the directors.  The amount is interest free and payable on demand.
Included within other debtors is an amount of £20,010 (2023: £20,010) due from an entity under common control. The amount is interest free and repayable on demand.

 
Page 8