FUTERRA SOLUTIONS UNION

Company limited by guarantee

Company Registration Number:
13748773 (England and Wales)

Unaudited statutory accounts for the year ended 29 November 2022

Period of accounts

Start date: 17 November 2021

End date: 29 November 2022

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Contents of the Financial Statements

for the Period Ended 29 November 2022

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

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Directors' report period ended 29 November 2022

The directors present their report with the financial statements of the company for the period ended 29 November 2022

Directors

The directors shown below have held office during the period of
20 September 2022 to 29 November 2022

S Butler-Sloss
L Hunter
R Viegas


The director shown below has held office during the whole of the period from
17 November 2021 to 29 November 2022

S Townsend


The director shown below has held office during the period of
17 November 2021 to 20 September 2022

L Shea


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
31 October 2023

And signed on behalf of the board by:
Name: S Townsend
Status: Director

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Profit And Loss Account

for the Period Ended 29 November 2022

2022


£
Turnover: 208,094
Cost of sales: ( 19,501 )
Gross profit(or loss): 188,593
Administrative expenses: ( 4,343 )
Operating profit(or loss): 184,250
Profit(or loss) before tax: 184,250
Profit(or loss) for the financial year: 184,250

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Balance sheet

As at 29 November 2022

Notes 2022


£
Current assets
Cash at bank and in hand: 208,033
Total current assets: 208,033
Net current assets (liabilities): 208,033
Total assets less current liabilities: 208,033
Accruals and deferred income: ( 23,783 )
Total net assets (liabilities): 184,250
Members' funds
Profit and loss account: 184,250
Total members' funds: 184,250

The notes form part of these financial statements

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Balance sheet statements

For the year ending 29 November 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 31 October 2023
and signed on behalf of the board by:

Name: S Townsend
Status: Director

The notes form part of these financial statements

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Notes to the Financial Statements

for the Period Ended 29 November 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Income compromises the fair value of the consideration received or receivable for the sale of goods andprovision of services in the ordinary course of the company’s activities. Income is shown net ofsales/value added tax, returns, rebates and discounts.The company recognises revenue when:The amount of revenue can be reliability 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.

    Other accounting policies

    Summary of significant accounting policies and key accounting estimatesThe principle accounting policies applied in the preparation of these financial statements are set outbelow. These policies have been consistently applied to all the years presented, unless otherwisestated.Statement of complianceThese financial statements were prepared in accordance with Financial Reporting Standard 102 ‘TheFinancial Reporting Standard applicable in the United Kingdom and Republic of Ireland and theCompanies Act 2006’.Basis of preparationThese financial statements have been prepared using the historical cost convention except that asdisclosed in the accounting policies certain items are shown at fair value.JudgementsIn the application of the company’s accounting policies, the directors are required to make judgements,estimated and assumptions about the carrying amount of assets and liabilities that are not readilyapparent from other sources. The estimates and associated assumptions are based on historicalexperience and other factors that are considered to be relevant. Actual results may differ from theseestimates.The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accountingestimates are recognised in the period in which the estimate is revised where the revision affects onlythat period, or in the period of the revision and future periods where the revision affects both current and future periods.GrantsGrants are recognised at the fair value of the asset recovered or receivable when there is reasonableassurance that grant conditions will be met and the grants will be received.A grant that specifies performance conditions is recognised in income when the performance conditionsare met. Where a grant does not specify performance conditions it is recognised in income when theproceeds are received or receivable. A grant received before the criteria are satisfied is recognised asa liability.Finance income and costs policyIncome and expenditure are included in the financial statements as they become receivable or due.Foreign currency transactions and balancesTransactions in foreign currencies are initially recorded at the functional currency rate prevailing at thedate of the transaction. Monetary assets and liabilities denominated in foreign currencies areretranslated into the respective functional currency of the entity at the rates prevailing on the reportingperiod date.TaxThe company is exempt from corporation tax on its non business activities.Cash and cash equivalentsCash and cash equivalents compromise cash on hand and call deposits, and other short-term highlyliquid investments that are readily convertible to a known amount of cash and are subject to aninsignificant risk of change in value. Trade debtorsTrade debtors are amounts due from customers for merchandise sold or services performed in theordinary course of business.Trade debtors are recognized initially at the transaction price. They are subsequently measured atamortised cost using the effective interest method, less provision for impairment. A provision for theimpairment of trade debtors is established when there is objective evidence that the company will notbe able to collect all amounts due according to the original terms of the receivables.

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Notes to the Financial Statements

for the Period Ended 29 November 2022

  • 2. Employees

    2022
    Average number of employees during the period 0

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Notes to the Financial Statements

for the Period Ended 29 November 2022

3. Financial Commitments

For the period ending 29 November 2022, 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 financial statements for the period in question in accordance with section 476;The directors acknowledge their responsibilities for complying with the requirements of the Act withrespect to accounting records and the preparation of financial statements.These financial statements have been prepared in accordance with the micro-entity provisions.