Company Registration No. 12947207 (England and Wales)
NTLFUTUREGROUP LTD
Unaudited accounts
for the year ended 31 October 2023
NTLFUTUREGROUP LTD
Statement of financial position
as at 31 October 2023
Tangible assets
22,886
28,135
Cash at bank and in hand
12,447
5,672
Creditors: amounts falling due within one year
(39,025)
(35,338)
Net current assets
60,430
32,893
Called up share capital
3
3
Capital contribution reserve
60,000
60,000
Profit and loss account
23,313
1,025
Shareholders' funds
83,316
61,028
For the year ending 31 October 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 11 March 2024 and were signed on its behalf by
TOSE KIZHAKKEMURIYIL JOSE
Director
Company Registration No. 12947207
NTLFUTUREGROUP LTD
Notes to the Accounts
for the year ended 31 October 2023
NTLFUTUREGROUP LTD is a private company, limited by shares, registered in England and Wales, registration number 12947207. The registered office is 102 Bushfield Drive, Redhill, England, RH1 5BW, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant and Machinery: Depreciation is charged on straight-line method and allocated the cost of asset less residual value over their estimated useful life. Useful life of the asset is estimated as 4 years and depreciated at 25%
Motor Vehicles: Depreciation is charged on straight-line method and allocated the cost of asset less residual value over their estimated useful life. Useful life of the asset is estimated as 4 years and depreciated at 25%
Fixtures and Fittings: Depreciation is charged on straight-line method and allocated the cost of asset less residual value over their estimated useful life. Useful life of the asset is estimated as 4 years and depreciated at 25%
Computer and Equipment: Depreciation is charged on straight-line method and allocated the cost of asset less residual value over their estimated useful life. Useful life of the asset is estimated as 4 years and depreciated at 25%
The assets' residual values, useful lives and depreciation methods are reviewed , and adjusted prospectively if appropriate , or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of comprehensive income.
Plant & machinery
Tangible Assets depreciated at 25% on Straight-line method over 4 years (useful life of asset)
Motor vehicles
Tangible Assets depreciated at 25% on Straight-line method over f4 years (useful life of asset)
Fixtures & fittings
Tangible Assets depreciated at 25% on Straight-line method over 4 years (useful life of asset)
Computer equipment
Tangible Assets depreciated at 25% on Straight-line method over 4 years (useful life of asset)
NTLFUTUREGROUP LTD
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 November 2022
11,939
13,250
18,215
2,034
45,438
Additions
4,944
-
-
-
4,944
At 31 October 2023
16,883
13,250
18,215
2,034
50,382
At 1 November 2022
5,220
2,500
8,608
975
17,303
Charge for the year
2,610
2,750
4,304
529
10,193
At 31 October 2023
7,830
5,250
12,912
1,504
27,496
At 31 October 2023
9,053
8,000
5,303
530
22,886
At 31 October 2022
6,719
10,750
9,607
1,059
28,135
Amounts falling due within one year
Trade debtors
19,414
9,526
Accrued income and prepayments
1,666
5,940
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
8,696
3,520
Proposed dividends
-
4,200
Loans from directors
26,591
26,591
7
Average number of employees
During the year the average number of employees was 9 (2022: 6).