ACCOUNTS - Final Accounts

FSG SOCIAL ADVISORS LIMITED - Company Information

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Registered number: 10899840

FSG SOCIAL ADVISORS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FSG SOCIAL ADVISORS LIMITED

REGISTERED NUMBER: 10899840

BALANCE SHEET

AS AT 31 DECEMBER 2019

		2019		2018
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	67,288		47,167
		67,288		47,167
Creditors: amounts falling due within one year	5	(30,607)		(30,420)
Net current assets			36,681		16,747
Total assets less current liabilities			36,681		16,747

Net assets			36,681		16,747

Capital and reserves
Called up share capital	6	1	1
Profit and loss account		36,680	16,746
		36,681	16,747

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 4 December 2020.

H T K Koh

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

FSG SOCIAL ADVISORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

1.	General information

The Company is a private company limited by shares, based in the United Kingdon. It is both incorporated and domiciled in England and Wales. The registered office address is 150 Aldersgate Street, London, EC1A 4AB.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The Directors have assessed the relevant financial information and believe that FSG Social Advisors Ltd will continue as a going as a going concern and maintain operations for at least the next 12 months.

The purpose of the entity currently is primarily to support the rest of the FSG Global Group consisting of FSG, Inc. (USA) and FSG Advisory Services Private Limited (India). It’s expenses consist of payroll and related costs plus travel expenses and administrative fees. As such it is the intention of the Global Group to continue to fund FSG Social Advisors Ltd as long as the 2 employees so employed remain with the company which as of now we estimate to be at least over the next 12 months.
tTherefore the financial statements have been prepared on a going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

2.4

Revenue

Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business and is shown net of VAT and other sales related tax.
Revenue is recognised when the amount of revenue can be recognised reliably, collection is probable and the cost incurred can be measured reliably.
Revenue comprises fees received for expenses re-charged at a mark up. These costs are incurred in the provision of sevices to other related companies. Revenue is recognised in the period which the services are provided.

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FSG SOCIAL ADVISORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

2.Accounting policies (continued)

2.5

Finance costs

Finance costs are charged to the Statement of Comprehensive Income 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.

2.6

Taxation

Tax is recognised in the Statement of Comprehensive Income, 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 balance sheet date in the countries where the Company operates and generates income.

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 2 (2018 - 2).

Debtors

					2019	2018
					£	£


Amounts owed by group undertakings	64,572	47,167
Other debtors	2,716	-
	67,288	47,167

Page 3

FSG SOCIAL ADVISORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

5.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Trade creditors	2,341	1,054
Corporation tax	5,000	3,934
Other taxation and social security	12,421	10,949
Other creditors	595	-
Accruals and deferred income	10,250	14,483
	30,607	30,420

6.	Share capital
		2019	2018
		£	£

Allotted, called up and fully paid

1 (2018 - 1) Ordinary share of £1.00	1	1

7.	Parent company

The parent company FSG Inc, a company incorporated in the United States of America.
The smallest group to which the Company's acounts are consolidated is that of FSG Inc.

8.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2019 was unqualified.

The audit report was signed on 9 December 2020 by Catherine Edwards BSc ACA (Senior Statutory Auditor) on behalf of Richardson Swift Audit Limited.

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