ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

FSG SOCIAL ADVISORS LIMITED - Company Information

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Caseware UK (AP4) 2020.0.247 2020.0.247 2020-12-312020-12-31falseNo description of principal activity22020-01-01false2true 10899840 2020-01-01 2020-12-31 10899840 2019-01-01 2019-12-31 10899840 2020-12-31 10899840 2019-12-31 10899840 c:Director1 2020-01-01 2020-12-31 10899840 d:CurrentFinancialInstruments 2020-12-31 10899840 d:CurrentFinancialInstruments 2019-12-31 10899840 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 10899840 d:CurrentFinancialInstruments d:WithinOneYear 2019-12-31 10899840 d:ShareCapital 2020-12-31 10899840 d:ShareCapital 2019-12-31 10899840 d:RetainedEarningsAccumulatedLosses 2020-12-31 10899840 d:RetainedEarningsAccumulatedLosses 2019-12-31 10899840 c:OrdinaryShareClass1 2020-01-01 2020-12-31 10899840 c:OrdinaryShareClass1 2020-12-31 10899840 c:OrdinaryShareClass1 2019-12-31 10899840 c:FRS102 2020-01-01 2020-12-31 10899840 c:Audited 2020-01-01 2020-12-31 10899840 c:FullAccounts 2020-01-01 2020-12-31 10899840 c:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31 10899840 c:SmallCompaniesRegimeForAccounts 2020-01-01 2020-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10899840










FSG SOCIAL ADVISORS LIMITED










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020
 
FSG SOCIAL ADVISORS LIMITED
REGISTERED NUMBER: 10899840

BALANCE SHEET
AS AT 31 DECEMBER 2020

2020
2019
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
89,490
67,288

  
89,490
67,288

Creditors: amounts falling due within one year
 6 
(38,704)
(30,607)

Net current assets
  
 
 
50,786
 
 
36,681

Total assets less current liabilities
  
50,786
36,681

  

Net assets
  
50,786
36,681


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
50,785
36,680

  
50,786
36,681


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 17 September 2021.




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 2020

1.


General information

FSG Social Advisors Limited is a private company limited by shares, based in the United Kingdom. It is both incorporated and domiciled in England and Wales. The registered office address is 11 Laura Place, Bath, BA2 4BL.

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.
Therefore 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. 

Page 2
 
FSG SOCIAL ADVISORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Taxation

Tax is recognised in profit or loss 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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

No significant judgements or key assumptions have been made by the directors in preparing these accounts.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 2).


5.


Debtors

2020
2019
£
£


Amounts owed by group undertakings
88,787
64,572

Other debtors
703
2,716

89,490
67,288


Page 3
 
FSG SOCIAL ADVISORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

6.


Creditors: Amounts falling due within one year

2020
2019
£
£

Trade creditors
-
2,341

Corporation tax
3,600
5,000

Other taxation and social security
26,209
12,421

Other creditors
595
595

Accruals and deferred income
8,300
10,250

38,704
30,607



7.


Share capital

2020
2019
£
£
Allotted, called up and fully paid



1 (2019 - 1) Ordinary share share of £1.00
1
1



8.


Parent company

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


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2020 was unqualified.

The audit report was signed on 17 September 2021 by Catherine Edwards BSc ACA (Senior Statutory Auditor) on behalf of Richardson Swift Audit Limited.


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