Company No:
Contents
DIRECTOR | James Duncan Kerslake Macgregor |
REGISTERED OFFICE | C/O Praxis |
1 Poultry | |
London | |
EC2R 8EJ | |
United Kingdom |
COMPANY NUMBER | 14056690 (England and Wales) |
CHARTERED ACCOUNTANTS | Praxis |
1 Poultry | |
London | |
EC2R 8EJ | |
United Kingdom |
Note | 30.04.2023 | |
£ | ||
Fixed assets | ||
Tangible assets | 3 |
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Investments | 4 |
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966,949 | ||
Current assets | ||
Debtors | 5 |
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Cash at bank and in hand |
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38,195 | ||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (94,918) | |
Total assets less current liabilities | 872,031 | |
Creditors: amounts falling due after more than one year | 7 | (
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Net assets |
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Capital and reserves | ||
Called-up share capital | 8 |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of Ethical eDiscovery Ltd (registered number:
James Duncan Kerslake Macgregor
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Ethical eDiscovery Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Praxis, 1 Poultry, London, EC2R 8EJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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 payments 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.
Trade creditors 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
Period from 20.04.2022 to 30.04.2023 |
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Number | |
Monthly average number of persons employed by the Company during the period, including the director |
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Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 20 April 2022 |
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Additions |
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At 30 April 2023 |
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Accumulated depreciation | |||
At 20 April 2022 |
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Charge for the financial period |
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At 30 April 2023 |
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Net book value | |||
At 30 April 2023 |
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Investments in associates | Total | ||
£ | £ | ||
Carrying value before impairment | |||
At 20 April 2022 |
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Additions |
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At 30 April 2023 |
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Provisions for impairment | |||
At 20 April 2022 |
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At 30 April 2023 |
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Carrying value at 30 April 2023 |
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30.04.2023 | |
£ | |
Amounts owed by related parties |
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Other debtors |
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30.04.2023 | |
£ | |
Taxation and social security |
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Other creditors |
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30.04.2023 | |
£ | |
Other creditors |
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30.04.2023 | |
£ | |
Allotted, called-up and fully-paid | |
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The Company had no material financial commitments at the period ended 30 April 2023.