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REGISTERED NUMBER: 03611648 (England and Wales)














Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Futurelink Software Limited

Futurelink Software Limited (Registered number: 03611648)






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


Futurelink Software Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: S I L Nicholson
P G Avenell





SECRETARY: S I L Nicholson





REGISTERED OFFICE: Ground Floor, The Old Barn
Lady Farm
Chelwood
Bristol
BS39 4NN





REGISTERED NUMBER: 03611648 (England and Wales)





ACCOUNTANTS: Underwood Lamb Professional Services Ltd
Ground Floor, The Old Barn
Lady Farm
Chelwood
Bristol
BS39 4NN

Futurelink Software Limited (Registered number: 03611648)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 2,159

CURRENT ASSETS
Debtors 5 - 450
Cash at bank and in hand 1,331 1,839
1,331 2,289
CREDITORS
Amounts falling due within one year 6 41,667 45,297
NET CURRENT LIABILITIES (40,336 ) (43,008 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(40,336

)

(40,849

)

CAPITAL AND RESERVES
Called up share capital 3,002 3,002
Retained earnings 7 (43,338 ) (43,851 )
SHAREHOLDERS' FUNDS (40,336 ) (40,849 )

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 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 23 November 2023 and were signed on its behalf by:





S I L Nicholson - Director


Futurelink Software Limited (Registered number: 03611648)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Futurelink Software 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.

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.
Improvements to property - 10% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Taxation
Taxation 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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Futurelink Software Limited (Registered number: 03611648)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 March 2022 11,688 11,004 5,746 28,438
Disposals (11,688 ) (11,004 ) (5,746 ) (28,438 )
At 28 February 2023 - - - -
DEPRECIATION
At 1 March 2022 9,596 10,967 5,716 26,279
Eliminated on disposal (9,596 ) (10,967 ) (5,716 ) (26,279 )
At 28 February 2023 - - - -
NET BOOK VALUE
At 28 February 2023 - - - -
At 28 February 2022 2,092 37 30 2,159

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors - 450

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 1 1,010
Taxation and social security 57 259
Other creditors 41,609 44,028
41,667 45,297

7. RESERVES
Retained
earnings
£   

At 1 March 2022 (43,851 )
Profit for the year 513
At 28 February 2023 (43,338 )

8. RELATED PARTY DISCLOSURES

During the year the company paid £700 to directors S Nicholson (£350) and P Avenell (£350). The amounts paid were considered to be at a market rate for the services provided.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S I L Nicholson.

Futurelink Software Limited (Registered number: 03611648)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

10. GOING CONCERN

Other creditors (Note 7) includes loans from a director (S Nicholson £9,871) and other parties totalling £34,869. These loans are interest free and are long term with no fixed repayment date and will not be repaid until the company is in a position to do so. The directors therefore consider that the company is able to continue to trade as a going concern. The company ceased to trade at 28.02.23 and with no available funds to repay outstanding loans, it is the intention of the directors to dissolve the company and for the loans be written off with the agreement of the relevant parties..