2023-01-01 2023-12-31 false Capium Accounts Production 1.1 11549169 bus:FullAccounts 2023-01-01 2023-12-31 11549169 bus:FRS102 2023-01-01 2023-12-31 11549169 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11549169 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11549169 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11549169 2023-01-01 2023-12-31 11549169 2023-12-31 11549169 bus:RegisteredOffice 2023-01-01 2023-12-31 11549169 core:WithinOneYear 2023-12-31 11549169 core:AfterOneYear 2023-12-31 11549169 bus:Director1 2023-01-01 2023-12-31 11549169 bus:Director1 2023-12-31 11549169 bus:Director1 2022-01-01 2022-12-31 11549169 bus:Director2 2023-01-01 2023-12-31 11549169 bus:Director2 2023-12-31 11549169 bus:Director2 2022-01-01 2022-12-31 11549169 2022-01-01 11549169 bus:CompanySecretary1 2023-01-01 2023-12-31 11549169 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 11549169 2022-01-01 2022-12-31 11549169 2022-12-31 11549169 core:WithinOneYear 2022-12-31 11549169 core:AfterOneYear 2022-12-31 11549169 bus:EntityAccountantsOrAuditors 2022-01-01 2022-12-31 11549169 core:ComputerEquipment 2023-01-01 2023-12-31 11549169 core:ComputerEquipment 2023-12-31 11549169 core:ComputerEquipment 2022-12-31 11549169 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-12-31 11549169 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2022-12-31 11549169 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 11549169 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 11549169 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-12-31 11549169 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2023-12-31 11549169 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2023-12-31 11549169 core:Non-currentFinancialInstruments 2023-12-31 11549169 core:Non-currentFinancialInstruments 2022-12-31 11549169 core:ShareCapital 2023-12-31 11549169 core:ShareCapital 2022-12-31 11549169 core:RetainedEarningsAccumulatedLosses 2023-12-31 11549169 core:RetainedEarningsAccumulatedLosses 2022-12-31 11549169 core:ShareCapitalOrdinaryShares 2023-01-01 11549169 core:ShareCapitalOrdinaryShares 2022-01-01 11549169 core:ShareCapitalOrdinaryShares 2023-01-01 2023-12-31 11549169 core:ShareCapitalOrdinaryShares 2022-01-01 2022-12-31 11549169 core:ShareCapitalOrdinaryShares 2023-12-31 11549169 core:ShareCapitalOrdinaryShares 2022-12-31 11549169 core:RetainedEarningsAccumulatedLosses 2023-01-01 11549169 core:RetainedEarningsAccumulatedLosses 2022-01-01 11549169 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11549169 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 11549169 core:RetainedEarningsAccumulatedLosses 2023-12-31 11549169 core:RetainedEarningsAccumulatedLosses 2022-12-31 11549169 dpl:Item1 2023-01-01 11549169 dpl:Item1 2023-12-31 11549169 dpl:Item1 2022-01-01 11549169 dpl:Item1 2022-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered Number: 11549169
England and Wales

 

 

 

OWNERSHIP FUTURES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Directors Mrs H C Craik
M C Lawrence
Registered Number 11549169
Registered Office The Fisheries
1 Mentmore Terrace
London
E8 3PN
Accountants Cocke, Vellacott & Hill
Unit 28 City Business Centre
Lower Road
LONDON
SE16 2XB
Secretary Mrs H C Craik
Bankers Virgin Money Limited



1
Director's report and financial statements
The directors present report and unaudited accounts for the year ended 31 December 2023.
Principal activities
The principal activity of the company during the financial year was research and consultancy.
Directors
The directors who served the company throughout the year were as follows:
Mrs H C Craik
M C Lawrence
Audit exemption
Ownership Futures Ltd has taken advantage of the exemption under Section 477 of the Companies Act 2006 and these financial statements are therefore unaudited.
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions
Small company regime
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime with Part 15 of the Companies Act 2006.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mrs H C Craik
Director

Date approved: 28 March 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 3,157    5,149 
3,157    5,149 
Current assets      
Debtors 5 34,267    18,717 
Investments 6 160,000   
Cash at bank and in hand 650,462    215,277 
844,729    233,994 
Creditors: amount falling due within one year 7 (888,936)   (271,424)
Net current assets (44,207)   (37,430)
 
Total assets less current liabilities (41,050)   (32,281)
Provisions for liabilities 8 (600)   (979)
Net assets (41,650)   (33,260)
 

Capital and reserves
     
Called up share capital 2    1 
Profit and loss account (41,652)   (33,261)
Shareholder's funds (41,650)   (33,260)
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 28 March 2024 and were signed on its behalf by:


-------------------------------
Mrs H C Craik
Director
3
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 January 2022 1  (39,521) (39,520)
Profit for the year 6,260  6,260 
Total comprehensive income for the year 6,260  6,260 
Total investments by and distributions to owners
At 31 December 2022 1  (33,261) (33,260)
At 01 January 2023 1  (33,260) (33,259)
Profit for the year (8,392) (8,392)
Total comprehensive income for the year (8,392) (8,392)
Shares issued 1 
Total investments by and distributions to owners 1 
At 31 December 2023 2  (41,652) (41,650)
4
General Information
Ownership Futures Ltd is a private company, limited by shares, registered in England and Wales, registration number 11549169, registration address The Fisheries, 1 Mentmore Terrace, London, E8 3PN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax.
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past years and it is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profits. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant & Machinery 33% Straight Line
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
2.

Average number of employees

Average number of employees during the year was 10 (2022 : 10).
3.

Financial Commitments, Guarantees and Contingencies

At the reporting year end` the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases falling due within one year of £8,100 (2022: £8,100).

Lease payments recognised as an expense in the year amounted to £33,021 (2022: £33,018).

4.

Tangible fixed assets

Cost or valuation Plant & Machinery   Total
  £   £
At 01 January 2023 13,331    13,331 
Additions 934    934 
Disposals  
At 31 December 2023 14,265    14,265 
Depreciation
At 01 January 2023 8,181    8,181 
Charge for year 2,927    2,927 
On disposals  
At 31 December 2023 11,108    11,108 
Net book values
Closing balance as at 31 December 2023 3,157    3,157 
Opening balance as at 01 January 2023 5,149    5,149 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 6,050    6,750 
Prepayments & Accrued Income 26,697    11,257 
Other Debtors 1,520    710 
34,267    18,717 

6.

Investments

2023
£
  2022
£
Other Investments - Unlisted - addition 160,000   
160,000   

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 1,192    3,663 
PAYE & Social Security 13,767    9,384 
Accrued Expenses 9,716    1,400 
Deferred Grants 864,303    254,350 
Other Creditors (42)   2,627 
888,936    271,424 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 600    979 
600    979 

9.

Share Capital

The company issued one Ordinary Share in the company at a nominal value of £1 during the year.

In addition during the year the company introduced a new class of Redeemable Ordinary Share with a nominal value of £0.01 and referred to as Employee Shares to enable staff participation in the company. There were six shares issued with a total nominal value of £0.06 during the year and in issue at the year end.

In accordance with the company's Articles of Association neither class of Ordinary Share is entitled to receive dividends.
5