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REGISTERED NUMBER: 03294098 (England and Wales)

















FTF WORLDWIDE EVENT MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






FTF WORLDWIDE EVENT MANAGEMENT LIMITED (REGISTERED NUMBER: 03294098)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FTF WORLDWIDE EVENT MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: C C Stonestreet





SECRETARY: Keelings Limited





REGISTERED OFFICE: Broad House
The Broadway
Old Hatfield
Herts
AL9 5BG





REGISTERED NUMBER: 03294098 (England and Wales)





ACCOUNTANTS: Jones Hunt & Keelings
Chartered Certified Accountants and
Chartered Tax Advisers
Broad House
1 The Broadway
Old Hatfield
Hertfordshire
AL9 5BG

FTF WORLDWIDE EVENT MANAGEMENT LIMITED (REGISTERED NUMBER: 03294098)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 239,520 243,527

CURRENT ASSETS
Stocks 202,020 96,081
Debtors 5 77,303 45,611
Cash at bank and in hand 627 79,987
279,950 221,679
CREDITORS
Amounts falling due within one year 6 180,651 145,371
NET CURRENT ASSETS 99,299 76,308
TOTAL ASSETS LESS CURRENT
LIABILITIES

338,819

319,835

CREDITORS
Amounts falling due after more than one year 7 (141,945 ) (200,903 )

PROVISIONS FOR LIABILITIES (45,509 ) (46,270 )
NET ASSETS 151,365 72,662

CAPITAL AND RESERVES
Called up share capital 46,200 46,200
Retained earnings 105,165 26,462
151,365 72,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 October 2023 and were signed by:





C C Stonestreet - Director


FTF WORLDWIDE EVENT MANAGEMENT LIMITED (REGISTERED NUMBER: 03294098)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

FTF Worldwide Event Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
The director has a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are again prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and equipment - 10% on cost

Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

FTF WORLDWIDE EVENT MANAGEMENT LIMITED (REGISTERED NUMBER: 03294098)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
equipment
£   
COST
At 1 March 2022 267,209
Additions 23,956
At 28 February 2023 291,165
DEPRECIATION
At 1 March 2022 23,682
Charge for year 27,963
At 28 February 2023 51,645
NET BOOK VALUE
At 28 February 2023 239,520
At 28 February 2022 243,527

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 73,547 14,426
Other debtors 3,756 31,185
77,303 45,611

FTF WORLDWIDE EVENT MANAGEMENT LIMITED (REGISTERED NUMBER: 03294098)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 68,648 60,167
Hire purchase contracts (see note 8) 4,663 10,534
Trade creditors 39,875 52,722
Taxation and social security 10,723 7,286
Other creditors 56,742 14,662
180,651 145,371

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 140,737 200,903
Hire purchase contracts (see note 8) 1,208 -
141,945 200,903

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 7,986

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 4,663 10,534
Between one and five years 1,208 -
5,871 10,534

Non-cancellable operating leases
2023 2022
£    £   
Within one year 11,500 -
Between one and five years 3,104 -
14,604 -

9. SECURED DEBTS

Bank loans are secured by a personal guarantee given by the director.

Hire purchase loans are secured over the assets on which they have been taken.

FTF WORLDWIDE EVENT MANAGEMENT LIMITED (REGISTERED NUMBER: 03294098)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
C C Stonestreet
Balance outstanding at start of year (812 ) -
Amounts advanced 16,250 -
Amounts repaid (28,039 ) (812 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (12,601 ) (812 )