Registered number
07420149
Ethos Payroll Services Limited
Filleted Accounts
29 December 2024
Ethos Payroll Services Limited
Registered number: 07420149
Balance Sheet
as at 29 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 640,435 645,464
Current assets
Debtors 4 150 225,099
Cash at bank and in hand 76,869 24,802
77,019 249,901
Creditors: amounts falling due within one year 5 (531,443) (682,224)
Net current liabilities (454,424) (432,323)
Total assets less current liabilities 186,011 213,141
Creditors: amounts falling due after more than one year 6 (83,240) (97,053)
Net assets 102,771 116,088
Capital and reserves
Called up share capital 1 1
Profit and loss account 102,770 116,087
Shareholder's funds 102,771 116,088
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Harding
Director
Approved by the board on 19 March 2026
Ethos Payroll Services Limited
Notes to the Accounts
for the period from 1 January 2024 to 29 December 2024
1 Accounting policies
Basis of preparation
The accounts 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings no depreciation provided
Fixtures, fittings, tools and equipment 25% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 29 37
3 Tangible fixed assets
Land and buildings Motor vehicles Total
£ £ £
Cost
At 1 January 2024 616,100 130,831 746,931
Additions - 3,087 3,087
At 29 December 2024 616,100 133,918 750,018
Depreciation
At 1 January 2024 - 101,467 101,467
Charge for the period - 8,116 8,116
At 29 December 2024 - 109,583 109,583
Net book value
At 29 December 2024 616,100 24,335 640,435
At 31 December 2023 616,100 29,364 645,464
4 Debtors 2024 2023
£ £
Trade debtors 150 140
Other debtors - 224,959
150 225,099
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 14,925 14,925
Trade creditors 14,902 91,312
Taxation and social security costs 123,963 140,275
Other creditors 377,653 435,712
531,443 682,224
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 83,240 97,053
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 83,240 105,086
Secured bank loans 93,850 115,696
8 Other information
Ethos Payroll Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
20 North Lane
Canterbury
Kent
CT2 7PG
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