Future Coatings Limited 06797274 true 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is powder coating Digita Accounts Production Advanced 6.30.9574.0 true Mr David Andrew Barrett Mr Gary Charles Sheath 06797274 2021-01-01 2021-12-31 06797274 2021-12-31 06797274 bus:OrdinaryShareClass1 2021-12-31 06797274 core:ShareCapital 2021-12-31 06797274 core:CurrentFinancialInstruments 2021-12-31 06797274 bus:FRS102 2021-01-01 2021-12-31 06797274 bus:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 06797274 bus:FullAccounts 2021-01-01 2021-12-31 06797274 bus:RegisteredOffice 2021-01-01 2021-12-31 06797274 bus:Director1 2021-01-01 2021-12-31 06797274 bus:Director2 2021-01-01 2021-12-31 06797274 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 06797274 bus:EntityHasNeverTraded 2021-01-01 2021-12-31 06797274 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 06797274 countries:England 2021-01-01 2021-12-31 06797274 2020-01-01 2020-12-31 06797274 2020-12-31 06797274 bus:OrdinaryShareClass1 2020-12-31 06797274 core:ShareCapital 2020-12-31 06797274 core:CurrentFinancialInstruments 2020-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06797274

Future Coatings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Future Coatings Limited

Profit and Loss Account for the Year Ended 31 December 2021

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Future Coatings Limited

(Registration number: 06797274)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Current assets

 

Debtors

3

2

2

Capital and reserves

 

Called up share capital

4

2

2

Shareholders' funds

 

2

2

For the financial year ending 31 December 2021 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 13 September 2022 and signed on its behalf by:
 

.........................................
Mr Gary Charles Sheath
Director

 

Future Coatings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN
England

The principal place of business is:
The Pyramid Centre
Airport Service Road
Portsmouth
PO3 5SH
England

These financial statements were authorised for issue by the Board on 13 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Future Coatings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

3

Debtors

Current

2021
£

2020
£

Other debtors

2

2

4

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

5

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2020 - 2).