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REGISTERED NUMBER: 12347933 (England and Wales)












FUTURES HFD LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






FUTURES HFD LTD (REGISTERED NUMBER: 12347933)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7

Chartered Certified Accountants' Report 8

FUTURES HFD LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr D P Sockett
Ms N E Dunlop





REGISTERED OFFICE: 21 Burcott Road
Hereford
Herefordshire
HR4 9LW





REGISTERED NUMBER: 12347933 (England and Wales)





ACCOUNTANTS: Lockett & Co
Chartered Certified Accountants
Shelton House
Coningsby Street
Hereford
Herefordshire
HR1 2DY

FUTURES HFD LTD (REGISTERED NUMBER: 12347933)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 153,765 169,280

CURRENT ASSETS
Debtors 5 69,888 22,869
Cash at bank and in hand 127,657 149,823
197,545 172,692
CREDITORS
Amounts falling due within one year 6 103,020 111,958
NET CURRENT ASSETS 94,525 60,734
TOTAL ASSETS LESS CURRENT
LIABILITIES

248,290

230,014

CREDITORS
Amounts falling due after more than one
year

7

(89,210

)

(94,333

)

PROVISIONS FOR LIABILITIES (15,157 ) (13,337 )
NET ASSETS 143,923 122,344

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 143,823 122,244
SHAREHOLDER FUNDS 143,923 122,344

FUTURES HFD LTD (REGISTERED NUMBER: 12347933)

BALANCE SHEET - continued
31 MARCH 2024


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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:





Mr D P Sockett - Director


FUTURES HFD LTD (REGISTERED NUMBER: 12347933)

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

1. STATUTORY INFORMATION

Futures Hfd Ltd 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 March 2024 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS105, the date of transition to FRS 102 Section 1A is 1 April 2022.

The transition to FRS 102 (Section 1A) has resulted in a small number of changes in accounting policies to those used previously.

The nature of these changes and their impact on opening equity and profit/(loss) for the comparative period are explained in note 9.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the fair value of care services provided to residents under contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of the consideration due.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost of each asset less its estimated residual value over its estimated useful life.

Fixtures fittings & equipment20% reducing balance basis
Motor vehicles20% reducing balance basis
Computer equipment25% reducing balance basis

Financial instruments
Financial assets and financial liabilities are recognised on the balance sheet when the entity becomes party to the contractual provisions of the financial instrument.

Debtors and Creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Bank loans are initially recognised at the transaction price including transaction costs. Subsequent to initial recognition, loans are stated at amortised cost using the effective interest rate method, less impairment.


FUTURES HFD LTD (REGISTERED NUMBER: 12347933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 9 (2023 - 9 ) .

FUTURES HFD LTD (REGISTERED NUMBER: 12347933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 203,243
Additions 22,778
At 31 March 2024 226,021
DEPRECIATION
At 1 April 2023 33,963
Charge for year 38,293
At 31 March 2024 72,256
NET BOOK VALUE
At 31 March 2024 153,765
At 31 March 2023 169,280

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,890 19,202
Amounts owed by group undertakings 57,123 -
Other debtors 10,875 3,667
69,888 22,869

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 9,720
Hire purchase contracts 6,797 18,327
Trade creditors 7,964 16,858
Amounts owed to group undertakings - 42,033
Taxation and social security 73,659 21,081
Other creditors 4,600 3,939
103,020 111,958

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,500 22,780
Hire purchase contracts 76,710 71,553
89,210 94,333

FUTURES HFD LTD (REGISTERED NUMBER: 12347933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 83,507 89,880

Net obligations under hire purchase contracts are secured on individual assets financed by such agreements.

9. FIRST YEAR ADOPTION

Deferred Tax - FRS 102 (Section 1A), adopts a 'timing differences plus' approach, which requires deferred tax to be provided. Provision was not required prior to the adoption of FRS 102. The effect on the previously reported financial statements is shown below.

Reconciliation of Capital and Reserves:
AtAt
1 April31 March
20222023

(Transition
Date)

££
Capital and reserves (as previously stated)49,724135,681

Deferred tax provision(9,219)(13,337)

Capital and reserves (as restated)40,505122,344


Reconciliation of profit/(loss) for the year ended 31 March 2023:
£
Profit/(Loss) on ordinary activities after taxation and for the financial year (as
previously stated)


85,957

Change in deferred tax provision(4,118)

Profit/(Loss) on ordinary activities after taxation and for the financial year (as
restated)


81,839


CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FUTURES HFD LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Futures Hfd Ltd for the year ended 31 March 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Futures Hfd Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Futures Hfd Ltd and state those matters that we have agreed to state to the Board of Directors of Futures Hfd Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Futures Hfd Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Futures Hfd Ltd. You consider that Futures Hfd Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Futures Hfd Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lockett & Co
Chartered Certified Accountants
Shelton House
Coningsby Street
Hereford
Herefordshire
HR1 2DY


18 October 2024