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Company Registration No. 09460297 (England and Wales)
Future Solutions Online Ltd Unaudited accounts for the year ended 31 December 2023
Future Solutions Online Ltd Unaudited accounts Contents
Page
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Future Solutions Online Ltd Company Information for the year ended 31 December 2023
Director
Peter Cuff
Company Number
09460297 (England and Wales)
Registered Office
20-22 Wenlock Road London N1 7GU England
Accountants
Caseron Cloud Accounting Ltd 7 Swallow Drive Stowmarket Suffolk IP14 5BY
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Future Solutions Online Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
559 
742 
Current assets
Debtors
6,080 
3,327 
Cash at bank and in hand
89,739 
49,530 
95,819 
52,857 
Creditors: amounts falling due within one year
(28,179)
(18,123)
Net current assets
67,640 
34,734 
Total assets less current liabilities
68,199 
35,476 
Creditors: amounts falling due after more than one year
(17,824)
(20,602)
Provisions for liabilities
Deferred tax
(473)
(282)
Net assets
49,902 
14,592 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
49,802 
14,492 
Shareholders' funds
49,902 
14,592 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 September 2024 and were signed on its behalf by
Peter Cuff Director Company Registration No. 09460297
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Future Solutions Online Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Future Solutions Online Ltd is a private company, limited by shares, registered in England and Wales, registration number 09460297. The registered office is 20-22 Wenlock Road, London, N1 7GU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33.33% Straight Line
Computer equipment
33.33% and 100.00% Straight Line
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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Future Solutions Online Ltd Notes to the Accounts for the year ended 31 December 2023
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2023
5,848 
Additions
149 
At 31 December 2023
5,997 
Depreciation
At 1 January 2023
5,106 
Charge for the year
332 
At 31 December 2023
5,438 
Net book value
At 31 December 2023
559 
At 31 December 2022
742 
5
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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