Future Leap Clifton Limited 13888777 false 2022-02-02 2023-05-31 2023-05-31 The principal activity of the company is that of a co-working space and media studio. Digita Accounts Production Advanced 6.30.9574.0 true true 13888777 2022-02-02 2023-05-31 13888777 2023-05-31 13888777 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-05-31 13888777 core:AcceleratedTaxDepreciationDeferredTax 2023-05-31 13888777 core:RetainedEarningsAccumulatedLosses 2023-05-31 13888777 core:ShareCapital 2023-05-31 13888777 core:CurrentFinancialInstruments 2023-05-31 13888777 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 13888777 core:OtherPropertyPlantEquipment 2023-05-31 13888777 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-05-31 13888777 core:ParentEntities 2023-05-31 13888777 bus:SmallEntities 2022-02-02 2023-05-31 13888777 bus:AuditExemptWithAccountantsReport 2022-02-02 2023-05-31 13888777 bus:FullAccounts 2022-02-02 2023-05-31 13888777 bus:SmallCompaniesRegimeForAccounts 2022-02-02 2023-05-31 13888777 bus:RegisteredOffice 2022-02-02 2023-05-31 13888777 bus:Director1 2022-02-02 2023-05-31 13888777 bus:Director2 2022-02-02 2023-05-31 13888777 bus:Director3 2022-02-02 2023-05-31 13888777 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-02-02 2023-05-31 13888777 bus:PrivateLimitedCompanyLtd 2022-02-02 2023-05-31 13888777 core:OtherPropertyPlantEquipment 2022-02-02 2023-05-31 13888777 core:PlantMachinery 2022-02-02 2023-05-31 13888777 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:RenderingOrReceivingServices 2022-02-02 2023-05-31 13888777 core:ParentEntities core:RenderingOrReceivingServices 2022-02-02 2023-05-31 13888777 1 2022-02-02 2023-05-31 13888777 countries:EnglandWales 2022-02-02 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13888777

Future Leap Clifton Limited

Unaudited Filleted Financial Statements

for the Period from 2 February 2022 to 31 May 2023

Pages for filing with Registrar

 

Future Leap Clifton Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Future Leap Clifton Limited

Company Information

Directors

A N Bailey

M E Byrne

P L Cooper

Registered office

1-3 Gloucester Road
Bishopston
Bristol
BS7 8AA

Registered number

13888777

Accountants

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Future Leap Clifton Limited

(Registration number: 13888777)
Balance Sheet as at 31 May 2023

Note

2023
£

Fixed assets

 

Tangible assets

5

43,379

Current assets

 

Debtors

6

13,359

Cash at bank and in hand

 

40,976

 

54,335

Creditors: Amounts falling due within one year

7

(57,931)

Net current liabilities

 

(3,596)

Total assets less current liabilities

 

39,783

Provisions for liabilities

(8,242)

Net assets

 

31,541

Capital and reserves

 

Called up share capital

8

100

Profit and loss account

31,441

Total equity

 

31,541

 

Future Leap Clifton Limited

(Registration number: 13888777)
Balance Sheet as at 31 May 2023

For the financial period ending 31 May 2023 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 period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 2 November 2023 and signed on its behalf by:
 

.........................................

A N Bailey
Director

 

Future Leap Clifton Limited

Notes to the Unaudited Financial Statements for the Period from 2 February 2022 to 31 May 2023

1

Statutory information

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

The address of its registered office is:
1-3 Gloucester Road
Bishopston
Bristol
BS7 8AA

2

Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Disclosure of long or short period

The financial statements have been prepared for the longer accounting period from the date of incorporation to the first accounting reference date.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Future Leap Clifton Limited

Notes to the Unaudited Financial Statements for the Period from 2 February 2022 to 31 May 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.


Deferred tax
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Plant and machinery

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

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.

Trade creditors

Trade creditors are recognised at the transaction price.

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.

 

Future Leap Clifton Limited

Notes to the Unaudited Financial Statements for the Period from 2 February 2022 to 31 May 2023

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

4

Taxation

Deferred tax

Deferred tax assets and liabilities

2023

Liability
£

Accelerated tax depreciation

8,242

8,242

5

Tangible fixed assets

Plant and machinery
£

Cost

Additions

43,412

At 31 May 2023

43,412

Depreciation

Charge for the period

33

At 31 May 2023

33

Carrying amount

At 31 May 2023

43,379

 

Future Leap Clifton Limited

Notes to the Unaudited Financial Statements for the Period from 2 February 2022 to 31 May 2023

6

Debtors: amounts falling due within one year

Note

2023
£

Amounts owed by group undertakings

9

13,359

 

13,359

7

Creditors

Note

2023
£

Amounts falling due within one year

 

Trade creditors

 

28,238

Amounts owed to group undertakings

9

25,611

Taxation and social security

 

1,963

Accruals

 

1,650

Corporation tax

 

469

 

57,931

8

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each

100

100

     
 

Future Leap Clifton Limited

Notes to the Unaudited Financial Statements for the Period from 2 February 2022 to 31 May 2023

9

Related party transactions

Summary of transactions with entities with joint control or significant interest

Income and receivables from related parties

2023

Parent
£

Entities with joint control or significant influence
£

Receipt of services

1,786

127,538

Amounts receivable from related party

100

13,259

Expenditure with and payables to related parties

2023

Parent
£

Entities with joint control or significant influence
£

Rendering of services

28,018

18,710

Amounts payable to related party

13,611

12,000