Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312No description of principal activity2023-02-01false2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08333403 2023-02-01 2024-01-31 08333403 2022-02-01 2023-01-31 08333403 2024-01-31 08333403 2023-01-31 08333403 c:Director2 2023-02-01 2024-01-31 08333403 d:CurrentFinancialInstruments 2024-01-31 08333403 d:CurrentFinancialInstruments 2023-01-31 08333403 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 08333403 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 08333403 d:ShareCapital 2024-01-31 08333403 d:ShareCapital 2023-01-31 08333403 d:RetainedEarningsAccumulatedLosses 2024-01-31 08333403 d:RetainedEarningsAccumulatedLosses 2023-01-31 08333403 c:FRS102 2023-02-01 2024-01-31 08333403 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08333403 c:FullAccounts 2023-02-01 2024-01-31 08333403 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08333403 d:WithinOneYear 2024-01-31 08333403 d:WithinOneYear 2023-01-31 08333403 d:BetweenOneFiveYears 2024-01-31 08333403 d:BetweenOneFiveYears 2023-01-31 08333403 6 2023-02-01 2024-01-31 08333403 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Company registration number: 08333403







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2024


FUTURE MATERIALS GROUP LIMITED






































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FUTURE MATERIALS GROUP LIMITED
REGISTERED NUMBER:08333403



STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
517,121
6

  
517,121
6

Current assets
  

Debtors: amounts falling due within one year
 5 
170,132
210,132

Cash at bank and in hand
 6 
11,378
152,238

  
181,510
362,370

Creditors: amounts falling due within one year
 7 
(478,489)
(290,599)

Net current (liabilities)/assets
  
 
 
(296,979)
 
 
71,771

Total assets less current liabilities
  
220,142
71,777

  

Net assets
  
220,142
71,777


Capital and reserves
  

Called up share capital 
  
900
900

Profit and loss account
  
219,242
70,877

  
220,142
71,777


Page 1

 


FUTURE MATERIALS GROUP LIMITED
REGISTERED NUMBER:08333403


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 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 year 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 statement of income and retained earnings 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: 




___________________________
A G Williams
Director

Date: 29 October 2024

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

Page 2

 


FUTURE MATERIALS GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Future Materials Group 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. 
The presentation currency of the financial statements is the Pound Sterling (£). 

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

Preparation of consolidated financial statements

The financial statements contain information about Future Materials Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. 

  
2.3

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

 
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.

Page 3

 


FUTURE MATERIALS GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

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 reporting date in the countries where the Company operates and generates income.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Financial instruments

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

  
2.8

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.


3.


Employees



The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 February 2023
6


Additions
517,115



At 31 January 2024
517,121




Page 4

 


FUTURE MATERIALS GROUP LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
393
393

Other debtors
120,984
160,984

Tax recoverable
48,755
48,755

170,132
210,132



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
11,378
152,238

11,378
152,238



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
20
20

Amounts owed to group undertakings
478,469
211,310

Corporation tax
-
79,269

478,489
290,599



8.


Commitments under operating leases

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
42,105
42,105

Later than 1 year and not later than 5 years
38,596
80,701

80,701
122,806

 
Page 5