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REGISTERED NUMBER: 05045306 (England and Wales)
















Future Shop Limited

Unaudited Financial Statements

for the Year Ended 31st March 2024






Future Shop Limited (Registered number: 05045306)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Future Shop Limited

Company Information
for the Year Ended 31st March 2024







Directors: Mrs. Z G Aslam
Mr. A S Aslam





Registered office: Unit 5 Moda Business Centre, Stirling Way
Borehamwood
United Kingdom
Hertfordshire
WD6 2BW





Registered number: 05045306 (England and Wales)





Accountants: AN Accountancy
Accountants
4th Floor
100 Fenchurch Street
London
United Kingdom
EC3M 5JD

Future Shop Limited (Registered number: 05045306)

Statement of Financial Position
31st March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 20,130 38,790
Tangible assets 5 81,856 119,118
101,986 157,908

Current assets
Stocks 73,780 73,780
Debtors 6 39,194 29,029
Cash at bank 269,938 549,751
382,912 652,560
Creditors
Amounts falling due within one year 7 348,867 579,691
Net current assets 34,045 72,869
Total assets less current liabilities 136,031 230,777

Creditors
Amounts falling due after more than one
year

8

(38,854

)

(45,073

)

Provisions for liabilities (20,464 ) (40,542 )
Net assets 76,713 145,162

Capital and reserves
Called up share capital 2 2
Retained earnings 76,711 145,160
76,713 145,162

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

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

Future Shop Limited (Registered number: 05045306)

Statement of Financial Position - continued
31st March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th August 2024 and were signed on its behalf by:





Mrs. Z G Aslam - Director


Future Shop Limited (Registered number: 05045306)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. Statutory information

Future Shop 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Development expenditure is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Equipment - 15% on reducing balance
Motor vehicles - straight line over 3 years

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 Statement of Income and Retained Earnings, 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.

Future Shop Limited (Registered number: 05045306)

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

2. 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.

3. Employees and directors

The average number of employees during the year was 16 (2023 - 18 ) .

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1st April 2023
and 31st March 2024 217,748
Amortisation
At 1st April 2023 178,958
Charge for year 18,660
At 31st March 2024 197,618
Net book value
At 31st March 2024 20,130
At 31st March 2023 38,790

5. Tangible fixed assets
Motor
Equipment vehicles Totals
£    £    £   
Cost
At 1st April 2023 86,263 156,680 242,943
Disposals - (95,645 ) (95,645 )
At 31st March 2024 86,263 61,035 147,298
Depreciation
At 1st April 2023 41,935 81,890 123,825
Charge for year 6,649 14,726 21,375
Eliminated on disposal - (79,758 ) (79,758 )
At 31st March 2024 48,584 16,858 65,442
Net book value
At 31st March 2024 37,679 44,177 81,856
At 31st March 2023 44,328 74,790 119,118

Future Shop Limited (Registered number: 05045306)

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

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 1,078 -
Other debtors 38,116 29,029
39,194 29,029

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 6,219 5,768
Trade creditors 166,022 126,150
Taxation and social security 50,965 51,359
Other creditors 125,661 396,414
348,867 579,691

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 38,854 45,073

9. Ultimate controlling party

The company's ultimate controlling party is Azure Group Holdings Limited, a company registered in England.