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Company No: 06564782 (England and Wales)

FUTURE TECHNICAL SOLUTIONS LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

FUTURE TECHNICAL SOLUTIONS LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

FUTURE TECHNICAL SOLUTIONS LTD

COMPANY INFORMATION

For the financial year ended 31 December 2023
FUTURE TECHNICAL SOLUTIONS LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mrs J Carpenter
Mr N Carpenter
SECRETARY Mrs J Carpenter
REGISTERED OFFICE Sigma House Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
COMPANY NUMBER 06564782 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
FUTURE TECHNICAL SOLUTIONS LTD

BALANCE SHEET

As at 31 December 2023
FUTURE TECHNICAL SOLUTIONS LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 128,001 113,713
128,001 113,713
Current assets
Stocks 1,000 1,000
Debtors 4 226,926 100,297
Cash at bank and in hand 1,190 11,177
229,116 112,474
Creditors: amounts falling due within one year 5 ( 168,191) ( 149,978)
Net current assets/(liabilities) 60,925 (37,504)
Total assets less current liabilities 188,926 76,209
Creditors: amounts falling due after more than one year 6 ( 50,354) ( 70,850)
Net assets 138,572 5,359
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 138,472 5,259
Total shareholders' funds 138,572 5,359

For the financial year ending 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:

The financial statements of Future Technical Solutions Ltd (registered number: 06564782) were approved and authorised for issue by the Board of Directors on 18 April 2024. They were signed on its behalf by:

Mrs J Carpenter
Director
FUTURE TECHNICAL SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
FUTURE TECHNICAL SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Future Technical Solutions Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Vehicles 5 years straight line
Other property, plant and equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Tangible assets

Vehicles Other property, plant
and equipment
Total
£ £ £
Cost
At 01 January 2023 71,770 131,639 203,409
Additions 0 52,562 52,562
At 31 December 2023 71,770 184,201 255,971
Accumulated depreciation
At 01 January 2023 38,573 51,123 89,696
Charge for the financial year 8,218 30,056 38,274
At 31 December 2023 46,791 81,179 127,970
Net book value
At 31 December 2023 24,979 103,022 128,001
At 31 December 2022 33,197 80,516 113,713

4. Debtors

2023 2022
£ £
Trade debtors 178,600 64,299
Other debtors 48,326 35,998
226,926 100,297

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 12,585 11,994
Trade creditors 8,225 30,467
Taxation and social security 77,395 37,237
Obligations under finance leases and hire purchase contracts 8,592 9,736
Other creditors 61,394 60,544
168,191 149,978

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 41,322 53,226
Obligations under finance leases and hire purchase contracts 9,032 17,624
50,354 70,850

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100