Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31true1true2022-09-01false1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12810224 2022-09-01 2023-08-31 12810224 2021-09-01 2022-08-31 12810224 2023-08-31 12810224 2022-08-31 12810224 c:Director1 2022-09-01 2023-08-31 12810224 d:CurrentFinancialInstruments 2023-08-31 12810224 d:CurrentFinancialInstruments 2022-08-31 12810224 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12810224 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 12810224 d:ShareCapital 2023-08-31 12810224 d:ShareCapital 2022-08-31 12810224 d:RetainedEarningsAccumulatedLosses 2023-08-31 12810224 d:RetainedEarningsAccumulatedLosses 2022-08-31 12810224 c:FRS102 2022-09-01 2023-08-31 12810224 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 12810224 c:FullAccounts 2022-09-01 2023-08-31 12810224 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12810224 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 12810224










YOUR FUTURE AI LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
YOUR FUTURE AI LTD
REGISTERED NUMBER: 12810224

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note

  

Current assets
  

Debtors: amounts falling due within one year
 4 
599,252
-

Cash at bank and in hand
  
9
80

  
599,261
80

Creditors: amounts falling due within one year
 5 
(636,166)
(733)

Net current liabilities
  
 
 
(36,905)
 
 
(653)

Total assets less current liabilities
  
(36,905)
(653)

  

Net liabilities
  
(36,905)
(653)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(37,005)
(753)

  
(36,905)
(653)


The director considers 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 year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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: 




Mr A Lepidio
Director
Date: 1 August 2024

The notes on pages 3 to 5 form part of these financial statements.
Page 1

 
YOUR FUTURE AI LTD
REGISTERED NUMBER: 12810224
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023


Page 2

 
YOUR FUTURE AI LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Your Future AI Limited is a private company limited by shares and incorporated in England and Wales (12810224). The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis based on the continued support of the company's creditors and financiers which, in the opinion of the directors, the company has for the foreseeable future.

 
2.3

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.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.5

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.

 
2.6

Creditors

Short-term creditors are measured at the transaction price.

Page 3

 
YOUR FUTURE AI LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 4

 
YOUR FUTURE AI LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)


Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Debtors

2023
2022


Trade debtors
599,152
-

Called up share capital not paid
100
-

599,252
-



5.


Creditors: Amounts falling due within one year

2023
2022

Trade creditors
633,400
-

Other creditors
2
733

Accruals and deferred income
2,764
-

636,166
733



6.


Related party transactions

Included in other creditors is a interest free loan to the value of €2 (2022 - €733) owed to the director. 

 
Page 5