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REGISTERED NUMBER: 08333403 (England and Wales)















FUTURE MATERIALS GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023






FUTURE MATERIALS GROUP LIMITED (REGISTERED NUMBER: 08333403)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023










Page

Company information 1

Accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 8


FUTURE MATERIALS GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2023







Directors: D C Schofield
A G Williams





Secretary: E H Stokes





Registered office: Suite 12, The Mansion
Chesterford Research Park
Little Chesterford
Cambridgeshire
CB10 1XL





Registered number: 08333403 (England and Wales)





Accountants: Menzies LLP
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FUTURE MATERIALS GROUP LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Future Materials Group Limited for the year ended 31st January 2023 which comprise the Income statement, Statement of financial position, 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Future Materials Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Future Materials Group Limited and state those matters that we have agreed to state to the Board of Directors of Future Materials Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Future Materials Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Future Materials Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Future Materials Group Limited. You consider that Future Materials Group 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 financial statements of Future Materials Group 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 financial statements.






Menzies LLP
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP


Date: .............................................

FUTURE MATERIALS GROUP LIMITED (REGISTERED NUMBER: 08333403)

STATEMENT OF FINANCIAL POSITION
31ST JANUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investments 5 6 6

CURRENT ASSETS
Debtors 6 210,132 210,131
Cash at bank 152,238 11,869
362,370 222,000
CREDITORS
Amounts falling due within one year 7 (290,599 ) (130,316 )
NET CURRENT ASSETS 71,771 91,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,777

91,690

CAPITAL AND RESERVES
Called up share capital 9 900 900
Retained earnings 70,877 90,790
SHAREHOLDERS' FUNDS 71,777 91,690

FUTURE MATERIALS GROUP LIMITED (REGISTERED NUMBER: 08333403)

STATEMENT OF FINANCIAL POSITION - continued
31ST JANUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th October 2023 and were signed on its behalf by:





A G Williams - Director


FUTURE MATERIALS GROUP LIMITED (REGISTERED NUMBER: 08333403)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023


1. STATUTORY INFORMATION

Future Materials Group 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared on a going concern basis and under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Future Materials Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
No significant judgements or estimates have had to be made by the directors in preparing these financial statements.

Revenue
Revenue represents the total invoice value, excluding value added tax, trade discounts and all other taxes of sales made during the year.

Revenue recognition
Revenue is recognised when goods have been delivered and services supplied to customers such that risks and rewards of ownership have transferred to them.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


FUTURE MATERIALS GROUP LIMITED (REGISTERED NUMBER: 08333403)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023


3. ACCOUNTING POLICIES - continued
Tax
Tax for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred tax 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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 the income statement in the period to which they relate.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

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

FUTURE MATERIALS GROUP LIMITED (REGISTERED NUMBER: 08333403)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1st February 2022
and 31st January 2023 6
Net book value
At 31st January 2023 6
At 31st January 2022 6

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 393 393
Other debtors 10,969 10,968
Directors' current accounts 150,015 150,015
Corporation tax 48,755 48,755
210,132 210,131

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 20 20
Amounts owed to group undertakings 211,310 90,455
Corporation tax 79,269 39,841
290,599 130,316

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 42,105 38,095
Between one and five years 84,210 -
126,315 38,095

FUTURE MATERIALS GROUP LIMITED (REGISTERED NUMBER: 08333403)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
850 Ordinary A £1 850 850
50 Ordinary B £1 50 50
900 900

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

In a previous year the directors received an interest free loan of £150,015 to enable them to carry out their duties. The amount outstanding at the year end was £150,015.