Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312truefalsetrue2023-04-01false2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13956021 2023-04-01 2024-03-31 13956021 2022-03-04 2023-03-31 13956021 2024-03-31 13956021 2023-03-31 13956021 c:Director1 2023-04-01 2024-03-31 13956021 c:Director2 2023-04-01 2024-03-31 13956021 d:CurrentFinancialInstruments 2024-03-31 13956021 d:CurrentFinancialInstruments 2023-03-31 13956021 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13956021 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13956021 d:ShareCapital 2024-03-31 13956021 d:ShareCapital 2023-03-31 13956021 d:RetainedEarningsAccumulatedLosses 2024-03-31 13956021 d:RetainedEarningsAccumulatedLosses 2023-03-31 13956021 c:FRS102 2023-04-01 2024-03-31 13956021 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13956021 c:FullAccounts 2023-04-01 2024-03-31 13956021 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13956021 2 2023-04-01 2024-03-31 13956021 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 13956021


FUTURE TODAY STUDIO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

 
FUTURE TODAY STUDIO LIMITED
 
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FUTURE TODAY STUDIO LIMITED
FOR THE PERIOD ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Future Today Studio Limited for the Period ended 31 March 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the Board of directors of Future Today Studio Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Future Today Studio Limited and state those matters that we have agreed to state to the Board of directors of Future Today Studio Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Future Today Studio Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Future Today Studio Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Future Today Studio Limited. You consider that Future Today Studio Limited is exempt from the statutory audit requirement for the Period.

We have not been instructed to carry out an audit or review of the financial statements of Future Today Studio Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  





Wellers
8 King Edward Street
Oxford
Oxfordshire
OX1 4HL
26 July 2024
Page 1

 
FUTURE TODAY STUDIO LIMITED
REGISTERED NUMBER: 13956021

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks and work in progress
  
-
8,374

Cash at bank and in hand
 3 
1,041
4,873

  
1,041
13,247

Creditors: amounts falling due within one year
 4 
(15,397)
(13,086)

Net current (liabilities)/assets
  
 
 
(14,356)
 
 
161

Total assets less current liabilities
  
(14,356)
161

  

Net (liabilities)/assets
  
(14,356)
161


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(14,456)
61

  
(14,356)
161


Page 2

 
FUTURE TODAY STUDIO LIMITED
REGISTERED NUMBER: 13956021
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Florencia Graham Lopez
Stephane Bazire
Director
Director


Date: 26 July 2024

The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
FUTURE TODAY STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Future Today Studio Limited is a private limited liability company registered in England and Wales. The company's registered office is located at 8 King Edward Street, Oxford, OX1 4HL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The Company has an insolvent balance sheet at the reporting date. However, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. This expectation is based on the continued financial support from the Company’s shareholders who have confirmed their intention to provide such support as is necessary to enable the Company to meet its liabilities as they fall due.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 4

 
FUTURE TODAY STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Stocks and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
FUTURE TODAY STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,041
4,873

1,041
4,873



4.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
8,208
9,937

Directors loan account
7,189
3,149

15,397
13,086


 
Page 6