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REGISTERED NUMBER: 03129011 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 August 2023

for

FUTURERATE LIMITED

FUTURERATE LIMITED (REGISTERED NUMBER: 03129011)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FUTURERATE LIMITED

Company Information
for the Year Ended 31 August 2023







DIRECTOR: V M Phillipps





SECRETARY: Mrs C H A Phillipps





REGISTERED OFFICE: Grange Farm
Rempstone
Loughborough
Leicestershire
LE12 6RW





REGISTERED NUMBER: 03129011 (England and Wales)





ACCOUNTANTS: Conley Ward
1168/1170 Melton Road
Syston
Leicester
Leicestershire
LE7 2HB

FUTURERATE LIMITED (REGISTERED NUMBER: 03129011)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 93,386 102,068

CURRENT ASSETS
Stocks 371,153 360,032
Debtors 5 49,788 83,538
Cash at bank 112,348 153,510
533,289 597,080
CREDITORS
Amounts falling due within one year 6 156,010 179,873
NET CURRENT ASSETS 377,279 417,207
TOTAL ASSETS LESS CURRENT
LIABILITIES

470,665

519,275

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 470,565 519,175
470,665 519,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 5 August 2024 and were signed by:





V M Phillipps - Director


FUTURERATE LIMITED (REGISTERED NUMBER: 03129011)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Futurerate Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on cost, 20% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

FUTURERATE LIMITED (REGISTERED NUMBER: 03129011)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2022 109,666 331,532 441,198
Additions - 10,017 10,017
At 31 August 2023 109,666 341,549 451,215
DEPRECIATION
At 1 September 2022 64,367 274,763 339,130
Charge for year 8,681 10,018 18,699
At 31 August 2023 73,048 284,781 357,829
NET BOOK VALUE
At 31 August 2023 36,618 56,768 93,386
At 31 August 2022 45,299 56,769 102,068

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 47,564 82,444
Other debtors 2,224 1,094
49,788 83,538

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 39,250 46,792
Taxation and social security 11,932 6,070
Other creditors 104,828 127,011
156,010 179,873