Ecotor Technologies Ltd Filleted accounts for Companies House (small and micro)

Ecotor Technologies Ltd Filleted accounts for Companies House (small and micro)

ECOTOR TECHNOLOGIES LTD - Company Information

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1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,000,000 766,667 400,000 1,166,667 833,333 1,233,333 3,235 1,743 809 2,552 683 1,492 xbrli:pure xbrli:shares iso4217:GBP 12565957 2022-05-01 2023-04-30 12565957 2023-04-30 12565957 2022-04-30 12565957 2021-05-01 2022-04-30 12565957 2022-04-30 12565957 2021-04-30 12565957 bus:Director1 2022-05-01 2023-04-30 12565957 core:WithinOneYear 2023-04-30 12565957 core:WithinOneYear 2022-04-30 12565957 core:ShareCapital 2023-04-30 12565957 core:ShareCapital 2022-04-30 12565957 core:SharePremium 2023-04-30 12565957 core:SharePremium 2022-04-30 12565957 core:RetainedEarningsAccumulatedLosses 2023-04-30 12565957 core:RetainedEarningsAccumulatedLosses 2022-04-30 12565957 bus:SmallEntities 2022-05-01 2023-04-30 12565957 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 12565957 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 12565957 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 12565957 bus:FullAccounts 2022-05-01 2023-04-30 12565957 core:IntangibleAssetsOtherThanGoodwill 2022-05-01 2023-04-30 12565957 core:OfficeEquipment 2022-05-01 2023-04-30 12565957 core:IntangibleAssetsOtherThanGoodwill 2023-04-30 12565957 core:IntangibleAssetsOtherThanGoodwill 2022-04-30 12565957 core:OfficeEquipment 2023-04-30 12565957 core:OfficeEquipment 2022-04-30 12565957 core:KeyManagementPersonnel 2022-05-01 2023-04-30
COMPANY REGISTRATION NUMBER: 12565957
Ecotor Technologies Ltd
Filleted Unaudited Financial Statements
30 April 2023
Ecotor Technologies Ltd
Financial Statements
Year ended 30 April 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Ecotor Technologies Ltd
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
833,333
1,233,333
Tangible assets
6
683
1,492
---------
------------
834,016
1,234,825
Current assets
Debtors
7
85,713
84,968
Cash at bank and in hand
464,774
584,276
---------
---------
550,487
669,244
Creditors: amounts falling due within one year
8
202,826
276,119
---------
---------
Net current assets
347,661
393,125
------------
------------
Total assets less current liabilities
1,181,677
1,627,950
------------
------------
Net assets
1,181,677
1,627,950
------------
------------
Capital and reserves
Called up share capital
1,757
1,757
Share premium account
2,931,170
2,931,170
Profit and loss account
( 1,751,250)
( 1,304,977)
------------
------------
Shareholders funds
1,181,677
1,627,950
------------
------------
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 Section 1A of 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 30 April 2023 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 .
Ecotor Technologies Ltd
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 12 September 2023 , and are signed on behalf of the board by:
H A A Almansoor
Director
Company registration number: 12565957
Ecotor Technologies Ltd
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Northumberland Avenue, London, WC2N 5BW, England.
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 have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the investors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Intangible assets
-
33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Equipment
-
33% 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. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Intangible assets
Intangible assets
£
Cost
At 1 May 2022 and 30 April 2023
2,000,000
------------
Amortisation
At 1 May 2022
766,667
Charge for the year
400,000
------------
At 30 April 2023
1,166,667
------------
Carrying amount
At 30 April 2023
833,333
------------
At 30 April 2022
1,233,333
------------
6. Tangible assets
Equipment
£
Cost
At 1 May 2022 and 30 April 2023
3,235
-------
Depreciation
At 1 May 2022
1,743
Charge for the year
809
-------
At 30 April 2023
2,552
-------
Carrying amount
At 30 April 2023
683
-------
At 30 April 2022
1,492
-------
7. Debtors
2023
2022
£
£
Other debtors
85,713
84,968
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
15,935
66,466
Other creditors
186,891
209,653
---------
---------
202,826
276,119
---------
---------
9. Related party transactions
At the year end the company owed £334 (2022: £Nil) to the director.