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REGISTERED NUMBER: 12441747 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

FUTURE SOMERS LTD

FUTURE SOMERS LTD (REGISTERED NUMBER: 12441747)






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


FUTURE SOMERS LTD

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mrs L M Hazell
Mr D J Hazell
Miss R C Somers





REGISTERED OFFICE: Enterprise House
The Courtyard
Old Court House Road
Bromborough
Merseyside
CH62 4UE





REGISTERED NUMBER: 12441747 (England and Wales)





ACCOUNTANTS: LBW Chartered Accountants
Enterprise House
The Courtyard
Old Courthouse Road
Bromborough
Merseyside
CH62 4UE

FUTURE SOMERS LTD (REGISTERED NUMBER: 12441747)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,500 4,000
Tangible assets 5 19,307 13,742
22,807 17,742

CURRENT ASSETS
Stocks 1,949 1,951
Debtors 6 20,000 23,184
Cash at bank and in hand 5,517 10,890
27,466 36,025
CREDITORS
Amounts falling due within one year 7 41,431 27,159
NET CURRENT (LIABILITIES)/ASSETS (13,965 ) 8,866
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,842

26,608

CAPITAL AND RESERVES
Called up share capital 8 25,000 25,000
Retained earnings 9 (16,158 ) 1,608
SHAREHOLDERS' FUNDS 8,842 26,608

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 28 November 2023 and were signed on its behalf by:





Miss R C Somers - Director


FUTURE SOMERS LTD (REGISTERED NUMBER: 12441747)

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

1. STATUTORY INFORMATION

Future Somers Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

FUTURE SOMERS LTD (REGISTERED NUMBER: 12441747)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 5,000
AMORTISATION
At 1 March 2022 1,000
Charge for year 500
At 28 February 2023 1,500
NET BOOK VALUE
At 28 February 2023 3,500
At 28 February 2022 4,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 March 2022 10,549 10,429 20,978
Additions 17,888 - 17,888
At 28 February 2023 28,437 10,429 38,866
DEPRECIATION
At 1 March 2022 3,350 3,886 7,236
Charge for year 9,445 2,878 12,323
At 28 February 2023 12,795 6,764 19,559
NET BOOK VALUE
At 28 February 2023 15,642 3,665 19,307
At 28 February 2022 7,199 6,543 13,742

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 20,000 23,184

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 263 -
Taxation and social security 779 -
Other creditors 40,389 27,159
41,431 27,159

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary £250 25,000 25,000

FUTURE SOMERS LTD (REGISTERED NUMBER: 12441747)

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

9. RESERVES
Retained
earnings
£   

At 1 March 2022 1,608
Deficit for the year (17,766 )
At 28 February 2023 (16,158 )

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is an amount of £18,314 (2022 - £6,588) owing to Miss RC Somers in relation to her directors loan account and an amount of £11,500 (2022 - £10,000) owing to Mrs LM Hazell in relation to her directors loan account and an amount of £10,000 (2022- £10,000) owing to Mr DJ Hazell in relation to his directors loan account.