Ethos Technical Limited Filleted accounts for Companies House (small and micro)

ETHOS TECHNICAL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07640090

Ethos Technical Limited

Filleted Unaudited Financial Statements

31 July 2018

Ethos Technical Limited

Financial Statements

Year ended 31 July 2018

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Ethos Technical Limited

Statement of Financial Position

31 July 2018

	2018		2017
Note	£	£	£	£

Current assets

Debtors	6	1,011	1,016
Cash at bank and in hand		627	30
		-------	-------
		1,638	1,046

Creditors: amounts falling due within one year	7	4,210		3,682
		-------		-------
Net current liabilities			2,572		2,636
			-------		-------
Total assets less current liabilities			( 2,572)		( 2,636)
			-------		-------
Net liabilities			( 2,572)		( 2,636)
			-------		-------

Capital and reserves

Called up share capital	8	100	100
Profit and loss account		( 2,672)	( 2,736)
		-------	-------
Shareholders deficit		( 2,572)	( 2,636)
		-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 29 April 2019 , and are signed on behalf of the board by:

Mr J Duvall

Director

Company registration number: 07640090

Ethos Technical Limited

Notes to the Financial Statements

Year ended 31 July 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Second Floor, West Office Suite, Cottis House, Locks Hill, Rochford, SS4 1BB, Essex.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the company's creditors.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year.

Income tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures & fittings	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.

4. Average number of employees

During the year the average number of employees was 2 (2017 : 2) which consisted of the directors only.

5. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 August 2017 and 31 July 2018	1,297	1,297
	-------	-------
Depreciation
At 1 August 2017 and 31 July 2018	1,297	1,297
	-------	-------
Carrying amount
At 31 July 2018	–	–
	-------	-------
At 31 July 2017	–	–
	-------	-------

6. Debtors

	2018	2017
	£	£
Amounts due from related company	1,011	1,016
	-------	-------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Accruals and deferred income	1,494	972
Corporation tax	341	2,685
Director loan accounts	2,375	25
	-------	-------
	4,210	3,682
	-------	-------

8. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100.00	100	100.00
	----	--------	----	--------

9. Related party transactions

At the year end the company was owed £1,011 (2017 - £1,016) by a related company which is shown amongst debtors. During the year the company was recharged costs of £8,800 (2017 - £Nil) from the related company. At the year end the company owed its Director £2,375 (2017 - £25) which is shown amongst creditors.