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Registered Number: 10423308


 

 

 

FTC HOLDINGS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2022

End date: 30 April 2023
Director Perry Southall
Registered Number 10423308
Registered Office 11 Swan Street
Alcester
B49 5DP
Accountants Matthew J Elmes & Co
11 Swan Street
Alcester
Warwickshire
B49 5DP
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 30 April 2023.
Director
The director who served the company throughout the year was as follows:
Perry Southall
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Perry Southall
Director

Date approved: 03 October 2023
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of FTC Holdings Limited for the year ended 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of FTC Holdings Limited for the year ended 30 April 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of FTC Holdings Limited , as a body, in accordance with the terms of our engagement letter dated 03 October 2023. Our work has been undertaken solely to prepare for your approval the accounts of FTC Holdings Limited and state those matters that we have agreed to state to the Board of Directors of FTC Holdings Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FTC Holdings Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that FTC Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of FTC Holdings Limited . You consider that FTC Holdings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of FTC Holdings Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
30 April 2023



....................................................
Matthew J Elmes & Co
11 Swan Street
Alcester
Warwickshire
B49 5DP
03 October 2023
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 945,279    967,474 
Investments 4 408,580    408,580 
1,353,859    1,376,054 
Current assets      
Debtors 5 1,509,353    1,585,882 
Cash at bank and in hand 30,739    5,508 
1,540,092    1,591,390 
Creditors: amount falling due within one year 6 (2,844,778)   (1,262,010)
Net current liabilities (1,304,686)   329,380 
 
Total assets less current liabilities 49,173    1,705,434 
Creditors: amount falling due after more than one year 7   (1,652,245)
Net assets 49,173    53,189 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 49,073    53,089 
Shareholder's funds 49,173    53,189 
 


For the year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 03 October 2023 and were signed by:


-------------------------------
Perry Southall
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 May 2021 100  85,785  85,885 
Profit for the year (30,696) (30,696)
Total comprehensive income for the year (30,696) (30,696)
Dividends (2,000) (2,000)
Total investments by and distributions to owners (2,000) (2,000)
At 30 April 2022 100  53,089  53,189 
At 01 May 2022 100  53,089  53,189 
Profit for the year (4,016) (4,016)
Total comprehensive income for the year (4,016) (4,016)
Total investments by and distributions to owners
At 30 April 2023 100  49,073  49,173 
5
General Information
FTC Holdings Limited is a private company, limited by shares, registered in , registration number 10423308, registration address 11 Swan Street, Alcester, B49 5DP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings:  No depreciation
Plant and Machinery:  25% on cost
Motor Vehicles:  33.3% on cost
Computer Equipment:  33.3% on cost
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £   £
At 01 May 2022 940,912    6,500    23,249    290    970,951 
Additions        
Disposals     (23,249)     (23,249)
At 30 April 2023 940,912    6,500      290    947,702 
Depreciation
At 01 May 2022   2,297    2,775    126    5,198 
Charge for year     7,167      7,167 
On disposals     (9,942)     (9,942)
At 30 April 2023   2,297      126    2,423 
Net book values
Closing balance as at 30 April 2023 940,912    4,203      164    945,279 
Opening balance as at 01 May 2022 940,912    5,828    20,474    260    967,474 


4.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 May 2022 408,580    408,580 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 30 April 2023 408,580    408,580 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 895    50 
Amount Owed by Group Undertakings 1,507,947    1,585,321 
Prepayments & Accrued Income 511    511 
1,509,353    1,585,882 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 4,500    608 
Bank Loans & Overdrafts 1,375,951    79,059 
Corporation Tax   2,287 
Other Creditors   510 
Directors' Current Accounts 1,464,327    1,179,546 
2,844,778    1,262,010 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts   1,652,245 
  1,652,245 

6