2021-01-012021-12-312021-12-31false08477435FUTURE 54 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FUTURE 54 LIMITED

Registered Number
08477435
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2021

FUTURE 54 LIMITED
Company Information
for the year from 1 January 2021 to 31 December 2021

Directors

TRENT, Adrian

Registered Address

Metal Box Factory Unit 514,
30 Great Guildford Street, Southwark
London
SE1 0HS

Registered Number

08477435 (England and Wales)
FUTURE 54 LIMITED
Balance Sheet as at
31 December 2021

Notes

2021

2020

£

£

£

£

Fixed assets
Tangible assets719,51217,785
19,51217,785
Current assets
Debtors8768,413585,999
Cash at bank and on hand235,764747,339
1,004,1771,333,338
Prepayments and accrued income132,79979,478
Creditors amounts falling due within one year9(395,647)(416,679)
Net current assets (liabilities)741,329996,137
Total assets less current liabilities760,8411,013,922
Net assets760,8411,013,922
Capital and reserves
Called up share capital100100
Share premium49,97049,970
Profit and loss account710,771963,852
Shareholders' funds760,8411,013,922
The financial statements were approved and authorised for issue by the Director on 30 August 2022, and are signed on its behalf by:
TRENT, Adrian
Director
Registered Company No. 08477435
FUTURE 54 LIMITED
Notes to the Financial Statements
for the year ended 31 December 2021

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The company's principal activity during the year continued to be provision of Project and Cost management services.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Government grants and other government assistance policy
Government grants have been reconised as per FRS 102.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Description of reasons for any change in chosen formats of the financial statments
The accounts now have been prepared using Xero therefore change in format.
6.Employee information

20212020
Average number of employees during the year913
7.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 January 2134,86034,860
Additions6,6346,634
At 31 December 2141,49441,494
Depreciation and impairment
At 01 January 2117,07517,075
Charge for year4,9074,907
At 31 December 2121,98221,982
Net book value
At 31 December 2119,51219,512
At 31 December 2017,78517,785
8.Debtors

2021

2020

££
Trade debtors / trade receivables292,778328,792
Other debtors475,635257,207
Total768,413585,999
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2021

2020

££
Trade creditors / trade payables58,27971,071
Taxation and social security280,696284,590
Other creditors56,67261,018
Total395,647416,679
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year
2021: £45,300 2020: £50,000