Company Registration No. 11628828 (England and Wales)
AETHER FINANCIAL SERVICES UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
AETHER FINANCIAL SERVICES UK LIMITED
COMPANY INFORMATION
Directors
HP. JEANCARD
(Appointed 17 October 2018)
E. NARBOUX
(Appointed 17 October 2018)
Company number
11628828
Registered office
Office G07
14-16 Dowgate Hill
London
United Kingdom
EC4R 2SU
Accountants
01 Accounting Services Ltd
Office G07
14-16 Dowgate Hill
London
United Kingdom
EC4R 2SU
AETHER FINANCIAL SERVICES UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
AETHER FINANCIAL SERVICES UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2019
31 December 2019
- 1 -
Notes
£
£
Current assets
Debtors
3
33,524
Cash at bank and in hand
27,662
61,186
Creditors: amounts falling due within one year
4
(28,584)
Net current assets
32,602
Capital and reserves
Called up share capital
5
1,000
Profit and loss reserves
31,602
Total equity
32,602
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial Period ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 15 September 2020 and are signed on its behalf by:
HP. JEANCARD
E. NARBOUX
Director
Director
Company Registration No. 11628828
AETHER FINANCIAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2019
- 2 -
1
Accounting policies
Company information
AETHER FINANCIAL SERVICES UK LIMITED is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Office G07, 14-16 Dowgate Hill, London, United Kingdom, EC4R 2SU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover 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 taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.3
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
AETHER FINANCIAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.6
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was 1.
3
Debtors
Amounts falling due within one year:
£
Trade debtors
20,508
Other debtors
13,016
33,524
AETHER FINANCIAL SERVICES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2019
- 4 -
4
Creditors: amounts falling due within one year
£
Amounts due to group undertakings
2,091
Corporation tax
7,413
Other taxation and social security
251
Other creditors
18,829
28,584
5
Called up share capital
£
Ordinary share capital
Issued and fully paid
1,000 of £1 each
1,000
6
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
£
7,500
7
Parent company
The ultimate controlling parties of AETHER FINANCIAL SERVICES UK LIMITED are T3M EURL and J&1 SARL, two companies registered in France.
E. NARBOUX has indirect control over AETHER FINANCIAL SERVICES UK LIMITED through his holding company T3M EURL.
HP. JEANCARD has indirect control over AETHER FINANCIAL SERVICES UK LIMITED through his holding company J&1 SARL.