1 August 2022 false Taxfiler 2023.12 08620884business:PrivateLimitedCompanyLtd2022-08-012023-07-31 086208842022-07-31 086208842022-08-012023-07-31 08620884business:AuditExemptWithAccountantsReport2022-08-012023-07-31 08620884business:FilletedAccounts2022-08-012023-07-31 086208842023-07-31 08620884business:Director12022-08-012023-07-31 08620884business:Director22022-08-012023-07-31 08620884business:CompanySecretary12022-08-012023-07-31 08620884business:RegisteredOffice2022-08-012023-07-31 086208842022-07-31 08620884core:WithinOneYear2023-07-31 08620884core:WithinOneYear2022-07-31 08620884core:AfterOneYear2023-07-31 08620884core:AfterOneYear2022-07-31 08620884core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 08620884core:ShareCapitalcore:PreviouslyStatedAmount2022-07-31 08620884core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 08620884core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-07-31 08620884core:PreviouslyStatedAmount2023-07-31 08620884core:PreviouslyStatedAmount2022-07-31 08620884business:SmallEntities2022-08-012023-07-31 08620884countries:EnglandWales2022-08-012023-07-31 08620884core:FurnitureFittings2022-08-012023-07-31 08620884core:ComputerEquipment2022-08-012023-07-31 08620884core:PlantMachinery2022-07-31 08620884core:FurnitureFittings2022-07-31 08620884core:PlantMachinery2022-08-012023-07-31 08620884core:PlantMachinery2023-07-31 08620884core:FurnitureFittings2023-07-31 08620884business:Director112022-08-012023-07-31 08620884business:Director112022-07-31 08620884business:Director112023-07-31 08620884business:Director222022-08-012023-07-31 08620884business:Director222022-07-31 08620884business:Director222023-07-31 086208842021-08-012022-07-31 iso4217:GBP xbrli:pure
Company Registration No. 08620884 (England and Wales)
Furthermore Ltd Unaudited accounts for the year ended 31 July 2023
Furthermore Ltd Unaudited accounts Contents
Page
- 2 -
Furthermore Ltd Company Information for the year ended 31 July 2023
Directors
Steven N. Johnson Hana Sutch
Secretary
Nicola L. Johnson
Company Number
08620884 (England and Wales)
Registered Office
C/O Solid Ltd Eagle House 163 City Road London EC1V 1NR United Kingdom
Accountants
Solid Ltd Eagle House 163 City Road London EC1V 1NR
- 3 -
Furthermore Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,112 
7,820 
Current assets
Debtors
102,956 
66,248 
Cash at bank and in hand
168,289 
223,122 
271,245 
289,370 
Creditors: amounts falling due within one year
(66,108)
(89,072)
Net current assets
205,137 
200,298 
Total assets less current liabilities
211,249 
208,118 
Creditors: amounts falling due after more than one year
(22,435)
(32,387)
Provisions for liabilities
Deferred tax
(1,222)
(1,564)
Net assets
187,592 
174,167 
Capital and reserves
Called up share capital
216 
216 
Profit and loss account
187,376 
173,951 
Shareholders' funds
187,592 
174,167 
For the year ending 31 July 2023 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 February 2024 and were signed on its behalf by
Steven N. Johnson Director Company Registration No. 08620884
- 4 -
Furthermore Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Furthermore Ltd is a private company, limited by shares, registered in England and Wales, registration number 08620884. The registered office is C/O Solid Ltd, Eagle House, 163 City Road, London, EC1V 1NR, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
over 5 years Straight line
Computer equipment
over 5 years Straight line
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Government grants
A government grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs is recognised in profit or loss of the period in which it becomes receivable.
- 5 -
Furthermore Ltd Notes to the Accounts for the year ended 31 July 2023
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2022
24,142 
4,019 
28,161 
Additions
- 
867 
867 
At 31 July 2023
24,142 
4,886 
29,028 
Depreciation
At 1 August 2022
16,467 
3,874 
20,341 
Charge for the year
2,422 
153 
2,575 
At 31 July 2023
18,889 
4,027 
22,916 
Net book value
At 31 July 2023
5,253 
859 
6,112 
At 31 July 2022
7,675 
145 
7,820 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
79,327 
45,295 
Accrued income and prepayments
23,488 
1,625 
Other debtors
141 
19,328 
102,956 
66,248 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
9,952 
9,707 
VAT
17,823 
35,276 
Trade creditors
1,469 
1,057 
Taxes and social security
34,265 
32,252 
Other creditors
781 
1,507 
Accruals
1,818 
9,273 
66,108 
89,072 
- 6 -
Furthermore Ltd Notes to the Accounts for the year ended 31 July 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
22,435 
32,387 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Steven N. Johnson
Loan
9,687 
- 
9,497 
190 
Hana Sutch
Loan
9,641 
- 
9,782 
(141)
19,328 
- 
19,279 
49 
9
Average number of employees
During the year the average number of employees was 7 (2022: 8).
- 7 -