Registration number:
Future Leap Clifton Limited
for the Period from 2 February 2022 to 31 May 2023
Pages for filing with Registrar
Future Leap Clifton Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Future Leap Clifton Limited
Company Information
Directors |
A N Bailey M E Byrne P L Cooper |
Registered office |
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Registered number |
13888777 |
Accountants |
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Future Leap Clifton Limited
(Registration number: 13888777)
Balance Sheet as at 31 May 2023
Note |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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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:
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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
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Director
Future Leap Clifton Limited
Notes to the Unaudited Financial Statements for the Period from 2 February 2022 to 31 May 2023
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Taxation |
Deferred tax
Deferred tax assets and liabilities
2023 |
Liability |
Accelerated tax depreciation |
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Tangible fixed assets |
Plant and machinery |
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Cost |
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Additions |
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At 31 May 2023 |
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Depreciation |
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Charge for the period |
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At 31 May 2023 |
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Carrying amount |
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At 31 May 2023 |
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Future Leap Clifton Limited
Notes to the Unaudited Financial Statements for the Period from 2 February 2022 to 31 May 2023
Debtors: amounts falling due within one year |
Note |
2023 |
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Amounts owed by group undertakings |
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Creditors |
Note |
2023 |
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Amounts falling due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Accruals |
1,650 |
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Corporation tax |
469 |
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Share capital |
Allotted, called up and fully paid shares
2023 |
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No. |
£ |
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100 |
Future Leap Clifton Limited
Notes to the Unaudited Financial Statements for the Period from 2 February 2022 to 31 May 2023
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 |
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Amounts receivable from related party |
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Expenditure with and payables to related parties
2023 |
Parent |
Entities with joint control or significant influence |
Rendering of services |
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Amounts payable to related party |
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