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REGISTERED NUMBER: 10555335 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

FutureNow Solutions Ltd

FutureNow Solutions Ltd (Registered number: 10555335)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FutureNow Solutions Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: E Gursoy
J C Sadler





REGISTERED OFFICE: PO Box 55
34b York Way
London
N1 9AB





REGISTERED NUMBER: 10555335 (England and Wales)





ACCOUNTANTS: Ardor Business Solutions Limited
Chartered Certified Accountants
Unit 1
Shrine Barn
Sanding Road
Hythe
Kent
CT21 4HE

FutureNow Solutions Ltd (Registered number: 10555335)

Statement of Financial Position
31 January 2024

31/1/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,867 7,827
Investments 6 49,367 49,367
56,234 57,194

CURRENT ASSETS
Debtors 7 170,327 148,471
Cash at bank 555,633 381,905
725,960 530,376
CREDITORS
Amounts falling due within one year 8 326,883 242,731
NET CURRENT ASSETS 399,077 287,645
TOTAL ASSETS LESS CURRENT
LIABILITIES

455,311

344,839

CREDITORS
Amounts falling due after more than one
year

9

(14,030

)

(24,523

)

PROVISIONS FOR LIABILITIES (1,305 ) (1,487 )
NET ASSETS 439,976 318,829

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 439,876 318,729
SHAREHOLDERS' FUNDS 439,976 318,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

FutureNow Solutions Ltd (Registered number: 10555335)

Statement of Financial Position - continued
31 January 2024


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 12 April 2024 and were signed on its behalf by:




J C Sadler - Director



E Gursoy - Director


FutureNow Solutions Ltd (Registered number: 10555335)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

FutureNow Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Amounts are rounded to the nearest Pound Sterling.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.
Fixtures and fittings - 25% on cost
Computer equipment - straight line over 3 years

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

FutureNow Solutions Ltd (Registered number: 10555335)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 2,534 31,580 34,114
Additions - 2,328 2,328
At 31 January 2024 2,534 33,908 36,442
DEPRECIATION
At 1 February 2023 2,534 23,753 26,287
Charge for year - 3,288 3,288
At 31 January 2024 2,534 27,041 29,575
NET BOOK VALUE
At 31 January 2024 - 6,867 6,867
At 31 January 2023 - 7,827 7,827

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023
and 31 January 2024 49,367
NET BOOK VALUE
At 31 January 2024 49,367
At 31 January 2023 49,367

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors 168,111 146,391
Other debtors 2,216 2,080
170,327 148,471

FutureNow Solutions Ltd (Registered number: 10555335)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Bank loans and overdrafts 10,314 9,960
Taxation 37,281 48,848
Social security and other taxes 54,104 19,253
VAT 112,544 88,285
Other creditors 78,877 43,943
Directors' current accounts 27,490 26,768
Accrued expenses 6,273 5,674
326,883 242,731

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/24 31/1/23
£    £   
Bank loans - 1-2 years 10,493 10,138
Bank loans - 2-5 years 3,537 14,385
14,030 24,523