FSG Social Advisors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10899840 (England and Wales)

Financial Statements for the Year Ended 31 December 2021

for

FSG SOCIAL ADVISORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

G J Hills

REGISTERED OFFICE:

11 Laura Place

Bath

BA2 4BL

REGISTERED NUMBER:

10899840 (England and Wales)

AUDITORS:

Richardson Swift Audit Ltd

Chartered Accountants

Statutory Auditor

11 Laura Place

Bath

BA2 4BL

CURRENT ASSETS

Debtors

4

153,085

89,490

CREDITORS

Amounts falling due within one year

5

89,431

38,704

NET CURRENT ASSETS

63,654

50,786

TOTAL ASSETS LESS CURRENT LIABILITIES

63,654

50,786

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

63,653

50,785

SHAREHOLDERS' FUNDS

63,654

50,786

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 July 2022 and were signed by:

G J Hills - Director

1.	STATUTORY INFORMATION

Fsg Social Advisors 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.

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.

Going concern

The Directors are intending to wind down operations of FSG Social Advisors Limited in 2022. All the entity's expenses, consisting of payroll and related costs plus travel expenses and administrative fees, will be paid in full to the entity's final date of operation; and the entity will dividend up to FSG Inc. (USA) its remaining assets.

Therefore the financial statements have been prepared on a basis other than a going concern.There have been no changes to the figures within the financial statements as a result of this.

Turnover

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 services to other related companies. Revenue is recognised in the period which the services are provided.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 balance sheet date.

Deferred tax

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts owed by group undertakings

153,085

88,787

Other debtors

-

703

153,085

89,490

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

4,818

-

Corporation tax

3,114

3,600

Social security and other taxes

9,674

26,209

Other creditors

708

595

Accruals and deferred income

71,117

8,300

89,431

38,704

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1

Ordinary shares

£1

1

1

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

We draw attention to note 2 to the financial statements which explain the Director intends to cease trading through this company and therefore does not consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern.

Our opinion is not modified in respect of this matter.

Catherine Edwards BSc FCA (Senior Statutory Auditor)

for and on behalf of Richardson Swift Audit Ltd

8.	PARENT COMPANY

The parent company is FSG Inc, a company incorporated in the United States of America.