Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31132023-04-01falseNo description of principal activity10truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06036084 2023-04-01 2024-03-31 06036084 2022-04-01 2023-03-31 06036084 2024-03-31 06036084 2023-03-31 06036084 c:Director1 2023-04-01 2024-03-31 06036084 c:Director3 2023-04-01 2024-03-31 06036084 c:RegisteredOffice 2023-04-01 2024-03-31 06036084 d:OfficeEquipment 2023-04-01 2024-03-31 06036084 d:OfficeEquipment 2024-03-31 06036084 d:OfficeEquipment 2023-03-31 06036084 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06036084 d:Goodwill 2023-04-01 2024-03-31 06036084 d:Goodwill 2024-03-31 06036084 d:Goodwill 2023-03-31 06036084 d:ComputerSoftware 2024-03-31 06036084 d:ComputerSoftware 2023-03-31 06036084 d:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 06036084 d:CurrentFinancialInstruments 2024-03-31 06036084 d:CurrentFinancialInstruments 2023-03-31 06036084 d:Non-currentFinancialInstruments 2024-03-31 06036084 d:Non-currentFinancialInstruments 2023-03-31 06036084 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06036084 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06036084 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 06036084 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06036084 d:ShareCapital 2024-03-31 06036084 d:ShareCapital 2023-03-31 06036084 d:SharePremium 2024-03-31 06036084 d:SharePremium 2023-03-31 06036084 d:CapitalRedemptionReserve 2024-03-31 06036084 d:CapitalRedemptionReserve 2023-03-31 06036084 d:RetainedEarningsAccumulatedLosses 2024-03-31 06036084 d:RetainedEarningsAccumulatedLosses 2023-03-31 06036084 c:FRS102 2023-04-01 2024-03-31 06036084 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06036084 c:FullAccounts 2023-04-01 2024-03-31 06036084 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06036084 2 2023-04-01 2024-03-31 06036084 7 2023-04-01 2024-03-31 06036084 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 06036084 d:ComputerSoftware d:OwnedIntangibleAssets 2023-04-01 2024-03-31 06036084 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 06036084







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


MANAGEMENT FUTURES CONSULTING LIMITED






































                       

 


MANAGEMENT FUTURES CONSULTING LIMITED
 


 
COMPANY INFORMATION


Directors
T D Cox 
J G Bull 




Registered number
06036084



Registered office
Menzies LLP
3000a Parkway

Whiteley

Hampshire

PO15 7FX




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


MANAGEMENT FUTURES CONSULTING LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 10


 


MANAGEMENT FUTURES CONSULTING LIMITED
REGISTERED NUMBER:06036084



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
31,600
42,864

Tangible assets
 5 
2,954
4,715

  
34,554
47,579

Current assets
  

Stocks
  
7,944
8,925

Debtors: amounts falling due within one year
 6 
271,374
341,861

Cash at bank and in hand
  
363,102
559,747

  
642,420
910,533

Creditors: amounts falling due within one year
 7 
(453,932)
(549,316)

Net current assets
  
 
 
188,488
 
 
361,217

Total assets less current liabilities
  
223,042
408,796

Creditors: amounts falling due after more than one year
 8 
(11,667)
(21,667)

Provisions for liabilities
  

Deferred tax
  
(7,461)
(10,437)

  
 
 
(7,461)
 
 
(10,437)

Net assets
  
203,914
376,692

Page 1

 


MANAGEMENT FUTURES CONSULTING LIMITED
REGISTERED NUMBER:06036084


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
£
£

Capital and reserves
  

Called up share capital 
  
211
225

Share premium account
  
92,143
92,143

Capital redemption reserve
  
120
106

Profit and loss account
  
111,440
284,218

  
203,914
376,692


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 income statement 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: 






T D Cox
Director

Date: 1 December 2024


The notes on pages 3 to 10 form part of these financial statements.

Page 2

 


MANAGEMENT FUTURES CONSULTING LIMITED
 


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

1.


General information

Management Futures Consulting Limited is a private company limited by shares, registered in England and Wales. The company's trading address is 27 Old Gloucester Street, London, WC1N 3AX.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

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

 


MANAGEMENT FUTURES CONSULTING LIMITED
 


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

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 


MANAGEMENT FUTURES CONSULTING LIMITED
 


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

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Income Statement over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years
Other intangible fixed assets
-
5
years

Page 5

 


MANAGEMENT FUTURES CONSULTING LIMITED
 


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

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its 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.

Page 6

 


MANAGEMENT FUTURES CONSULTING LIMITED
 


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

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or
Page 7

 


MANAGEMENT FUTURES CONSULTING LIMITED
 


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

2.Accounting policies (continued)


2.14
Financial instruments (continued)

when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 10).


4.


Intangible assets




Computer software
Goodwill
Total

£
£
£



Cost


At 1 April 2023
10,000
205,804
215,804



At 31 March 2024

10,000
205,804
215,804



Amortisation


At 1 April 2023
4,167
168,773
172,940


Charge for the year on owned assets
2,000
9,264
11,264



At 31 March 2024

6,167
178,037
184,204



Net book value



At 31 March 2024
3,833
27,767
31,600



At 31 March 2023
5,833
37,031
42,864



Page 8

 


MANAGEMENT FUTURES CONSULTING LIMITED
 


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

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2023
8,099


Additions
537



At 31 March 2024

8,636



Depreciation


At 1 April 2023
3,384


Charge for the year on owned assets
2,298



At 31 March 2024

5,682



Net book value



At 31 March 2024
2,954



At 31 March 2023
4,715


6.


Debtors

2024
2023
£
£


Trade debtors
262,594
324,915

Other debtors
1,200
1,200

Prepayments and accrued income
7,580
15,746

271,374
341,861


Page 9

 


MANAGEMENT FUTURES CONSULTING LIMITED
 


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

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
98,968
113,964

Corporation tax
65,567
108,762

Other taxation and social security
63,898
47,939

Other creditors
53,231
45,834

Accruals and deferred income
162,268
222,817

453,932
549,316



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,667
21,667

11,667
21,667



9.Other financial commitments

In 2020 the company entered into an agreement to repurchase 100 shares for a total value of £250,000. As at the year end date, the outstanding commitment under this agreement was £Nil (2023 - £50,000).
 
Page 10