Ethical Investment Consulting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04938175 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

ETHICAL INVESTMENT CONSULTING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr S McGreevy

SECRETARY:

Mr S McGreevy

REGISTERED OFFICE:

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

REGISTERED NUMBER:

04938175 (England and Wales)

ACCOUNTANTS:

Acuity Professional Ltd

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

CURRENT ASSETS

Debtors

5

13,000

14,500

Cash at bank

3,531

750

16,531

15,250

CREDITORS

Amounts falling due within one year

6

65,350

54,952

NET CURRENT LIABILITIES

(48,819

)

(39,702

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(48,819

)

(39,702

)

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

8

(48,820

)

(39,703

)

SHAREHOLDERS' FUNDS

(48,819

)

(39,702

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 27 September 2019 and were signed by:

Mr S McGreevy - Director

1.	STATUTORY INFORMATION

Ethical Investment Consulting Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

ACCOUNTING ESTIMATES AND JUDGEMENTS

In preparing the financial statements, management were not required to make any estimates or judgements

which materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and

liabilities.

TURNOVER

Turnover represents net invoiced sales of services, excluding value added tax.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of nil years.

INTANGIBLE ASSETS

The cost of Intangible assets are amortised on a straight line basis over their expected useful life as follows:

Development cost - 10% on cost

Patents and Licence - 10% on cost

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' 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 debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised cost using the effective interest

method 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. Financial assets classified as

receivable within one year are not amortised.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are

classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing

transaction, where the debt instrument is measured at the present value of the future payment discounted at a

market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Accounts payable are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year

or less. If not, they are presented as non-current liabilities. Accounts payable greater than one year are

recognised initially at transaction price and subsequently measured at amortised cost using the effective interest

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of

the timing difference.

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.

GOING CONCERN

At the balance sheet date, the company had net liabilities. The directors have sufficient funding facilities to

enable the company meet its liabilities as they fall due. The directors have considered the financial information

and projected future income, and are satisfied that the company will continue to trade as a going concern,

meeting its liabilities as they fall due.

3.	INTANGIBLE FIXED ASSETS

Patents

and

Development

licences

costs

Totals

£

£

£

Cost

At 1 January 2018

and 31 December 2018

1,750

15,000

16,750

Amortisation

At 1 January 2018

and 31 December 2018

1,750

15,000

16,750

Net book value

At 31 December 2018

-

-

-

At 31 December 2017

-

-

-

4.	TANGIBLE FIXED ASSETS

Fixtures

Other

and

Office

Computer

fittings

Equipment

equipment

Totals

£

£

£

£

Cost

At 1 January 2018

and 31 December 2018

100

1,312

3,823

5,235

Depreciation

At 1 January 2018

and 31 December 2018

100

1,312

3,823

5,235

Net book value

At 31 December 2018

-

-

-

-

At 31 December 2017

-

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

13,000

14,500

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed to group undertakings

1

-

Taxation and social security

7,251

8,009

Other creditors

58,098

46,943

65,350

54,952

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1

Ordinary

1

1

1

8.

RESERVES

Retained

earnings

£

At 1 January 2018

(39,703

)

Deficit for the year

(9,117

)

At 31 December 2018

(48,820

)

9.	RELATED PARTY DISCLOSURES

As at balance sheet date, there was an amount due to director of £12,994 (2017: £9,354). This is an interest free

advance to company and does not have a fixed date of repayment.

10.	CONTROLLING PARTY

The controlling party is Mr S McGreevy.