Registration number:
Futurepump Ltd
for the Year Ended 31 March 2024
Futurepump Ltd
Contents
Company Information |
|
Strategic Report |
|
Directors' Report |
|
Statement of Directors' Responsibilities |
|
Consolidated Profit and Loss Account and Statement of Retained Earnings |
|
Consolidated Balance Sheet |
|
Balance Sheet |
|
Consolidated Statement of Cash Flows |
|
Statement of Cash Flows |
|
Notes to the Financial Statements |
Futurepump Ltd
Company Information
Directors |
Quentin Baynes Toby Hammond |
Company secretary |
Quentin Baynes |
Registered office |
|
Futurepump Ltd
Strategic Report for the Year Ended 31 March 2024
The directors present their strategic report for the year ended 31 March 2024.
Principal activity
The principal activity of the group is the manufacture and sale of high quality affordable solar irrigation pumps. Futurepump make durable and robust solar irrigation pumps that are also designed to be portable, making them uniquely suited to small farms in sub-saharan Africa and across the tropics. The pumps are sold globally through selected distributors and also retail online.
Fair review of the business
Another strong year of sales for the Futurepump group saw revenues for the year ending 31 March 2024 in line with the previous year at £1,512,529 (2023: £1,497,658). Although this represents our highest recorded sales we had been looking to grow sales but the current market is proving tough with existing customers and new prospects finding it difficult to invest in maintaining their inventory levels.
Gross profit margin has decreased in the period 30% (2023: 33%), which has resulted in gross profits being 9% lower year on year despite the stable sales. This was largely due to increases in the costs of raw materials and subcontract services. The company continues to benefit from strong supplier relationships of our manufacturing subsidiary in India to maintain our material costs given continued inflation.
We have managed to reduce our administrative expenses to £417,147 for the year (2023: £446,324). This means we have managed to slightly reduce our net loss after tax for the financial year, which was £76,484.
The group remain focussed on increasing sales revenue, whilst continuing to maintain production and administration costs at comparable rates.
Increase in our fixed assets is due to investment in our manufacturing facility in India, as prescribed in the share raise, to increase production capacity and efficiency.
The non-current debtor is a deferred tax asset resulting from tax deducted at source under a double tax convention on sales from the UK to India. The Directors have included a provision against this value on the basis that the UK subsidiary is currently recording a loss and is therefore unable to recover the asset.
Principal risks and uncertainties
The principal risk facing the business is that sales levels do not continue to grow. Competition continues to grow with new entrants to the solar irrigation offering for small farms, however it is our assessment that the market for solar irrigation pumps is still nascent and our pumps remain a premium option within the target market.
A lot of the competition we are now facing is lower priced pumps. These are lower quality products and prove more expensive across the whole lifetime the product, however, given the economic position a lot of our customers face, we are finding it harder to compete with these pumps. We are focussing our development activities to address this risk.
Given our end user customers are inherently price sensitive we consider an increase to our sales price would have a negative impact on sales volumes. As such we are at risk from material price inflation, which would erode our profit margins.
Futurepump Ltd
Strategic Report for the Year Ended 31 March 2024
Approved and authorised by the
......................................... |
Futurepump Ltd
Directors' Report for the Year Ended 31 March 2024
The directors present their report and the for the year ended 31 March 2024.
Directors of the group
The directors who held office during the year were as follows:
Research and development
The group has spent £36,455 (2023: £25,892) on research and development costs in the year. Futurepump is continually looking to develop the best solar irrigation options for our targert customers.
Futurepump Ltd
Directors' Report for the Year Ended 31 March 2024
Statement of Directors' Responsibilities
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Futurepump Ltd
Directors' Report for the Year Ended 31 March 2024
Approved and authorised by the
......................................... |
Futurepump Ltd
Consolidated Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2024
Note |
2024 |
2023 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Distribution costs |
( |
( |
|
Administrative expenses |
( |
( |
|
Other operating income |
- |
|
|
Operating loss |
( |
( |
|
Other interest receivable and similar income |
|
|
|
Interest payable and similar charges |
|
( |
|
4,663 |
(46,099) |
||
Loss before tax |
( |
( |
|
Taxation |
( |
( |
|
Loss for the financial year |
( |
( |
|
Profit/(loss) attributable to: |
|||
Owners of the company |
( |
( |
|
Minority interests |
|
|
|
( |
( |
||
Retained earnings brought forward |
(407,413) |
(275,824) |
|
Retained earnings carried forward |
(483,897) |
(380,596) |
Futurepump Ltd
(Registration number: 08609110)
Consolidated Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Debtors |
|
|
|
Other financial assets |
4,789 |
4,969 |
|
|
|
||
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Other financial assets |
40,000 |
40,000 |
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
113 |
113 |
|
Share premium reserve |
699,542 |
699,542 |
|
Other reserves |
(78,746) |
(38,573) |
|
Retained earnings |
(498,955) |
(387,085) |
|
Equity attributable to owners of the company |
121,954 |
273,997 |
|
minority interests |
129,330 |
114,272 |
|
Shareholders' funds |
251,284 |
388,269 |
Approved and authorised by the
......................................... |
Futurepump Ltd
(Registration number: 08609110)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Investments |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Other financial assets |
40,000 |
40,000 |
|
Cash at bank and in hand |
|
|
|
|
|
||
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
113 |
113 |
|
Share premium reserve |
699,542 |
699,542 |
|
Retained earnings |
(50,389) |
(50,329) |
|
Shareholders' funds |
649,266 |
649,326 |
The company made a loss after tax for the financial year of £60 (2023 - loss of £923).
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
......................................... |
Futurepump Ltd
Consolidated Statement of Cash Flows for the Year Ended 31 March 2024
Note |
2024 |
2023 |
|
Cash flows from operating activities |
|||
Loss for the year |
( |
( |
|
Adjustments to cash flows from non-cash items |
|||
Depreciation and amortisation |
|
|
|
Profit on disposal of tangible assets |
( |
( |
|
Finance income |
( |
( |
|
Finance costs |
|
|
|
Income tax expense |
|
|
|
Foreign exchange gains/losses |
|
( |
|
( |
( |
||
Working capital adjustments |
|||
Decrease in stocks |
|
|
|
Increase in trade debtors |
( |
( |
|
Increase in trade creditors |
|
|
|
Increase in provisions |
|
|
|
Cash generated from operations |
|
|
|
Income taxes paid |
( |
( |
|
Net cash flow from operating activities |
|
( |
|
Cash flows from investing activities |
|||
Interest received |
|
|
|
Acquisitions of tangible assets |
( |
( |
|
Proceeds from sale of tangible assets |
|
|
|
Net cash flows from investing activities |
( |
( |
|
Cash flows from financing activities |
|||
Interest paid |
( |
( |
|
Repayment of other borrowing |
( |
( |
|
Net cash flows from financing activities |
( |
( |
|
Net decrease in cash and cash equivalents |
( |
( |
|
Cash and cash equivalents at 1 April |
|
|
|
Cash and cash equivalents at 31 March |
110,709 |
146,241 |
Futurepump Ltd
Statement of Cash Flows for the Year Ended 31 March 2024
Note |
2024 |
2023 |
|
Cash flows from operating activities |
|||
Loss for the year |
( |
( |
|
Working capital adjustments |
|||
Increase in trade debtors |
( |
( |
|
Net cash flow from operating activities |
( |
( |
|
Cash flows from investing activities |
|||
Acquisition of subsidiaries |
( |
- |
|
Net decrease in cash and cash equivalents |
( |
( |
|
Cash and cash equivalents at 1 April |
|
|
|
Cash and cash equivalents at 31 March |
44,931 |
79,991 |
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
General information |
Country of incorporation
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 March 2024.
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred 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 group operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
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 group will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
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 group 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.
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Provisions
Provisions are recognised when the group has an obligation at the reporting date as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Turnover |
The analysis of the group's turnover for the year from continuing operations is as follows:
2024 |
2023 |
|
Sale of goods |
|
|
Rendering of services |
|
|
Grants received |
- |
|
|
|
Other operating income |
The analysis of the group's other operating income for the year is as follows:
2024 |
2023 |
|
Government grants |
- |
|
Other gains and losses |
The analysis of the group's other gains and losses for the year is as follows:
2024 |
2023 |
|
Gain on disposal of tangible assets |
|
|
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Operating loss |
Arrived at after charging/(crediting)
2024 |
2023 |
|
Depreciation expense |
|
|
Research and development cost |
|
|
Profit on disposal of property, plant and equipment |
( |
( |
Other interest receivable and similar income |
2024 |
2023 |
|
Interest income on bank deposits |
|
|
Other finance income |
|
- |
|
|
Interest payable and similar expenses |
2024 |
2023 |
|
Interest on bank overdrafts and borrowings |
|
- |
Interest expense on other finance liabilities |
|
|
Foreign exchange (losses)/gains |
( |
|
( |
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
2024 |
2023 |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other post-employment benefit costs |
|
|
Other employee expense |
|
|
|
|
The average number of persons employed by the company (including directors) during the year, was
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Directors' remuneration |
The directors' remuneration for the year was as follows:
2024 |
2023 |
|
Remuneration |
|
|
Auditors' remuneration |
2024 |
2023 |
|
Audit of these financial statements |
1,798 |
1,853 |
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
2024 |
2023 |
|
Current taxation |
||
UK corporation tax |
|
|
UK corporation tax adjustment to prior periods |
|
( |
42,329 |
7,007 |
|
Deferred taxation |
||
Arising from previously unrecognised tax loss, tax credit or temporary difference of prior periods |
(1,350) |
245 |
Tax expense in the income statement |
|
|
Deferred tax
Group
Intangible assets |
Group
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Trademarks, patents and licenses |
Total |
|
Cost or valuation |
||
At 1 April 2023 |
|
|
At 31 March 2024 |
|
|
Amortisation |
||
At 1 April 2023 |
|
|
At 31 March 2024 |
|
|
Carrying amount |
||
At 31 March 2024 |
- |
- |
The aggregate amount of research and development expenditure recognised as an expense during the period is £
Tangible assets |
Group
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Short leasehold land and buildings |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
||
Cost or valuation |
||||||
At 1 April 2023 |
|
|
|
|
|
|
Additions |
- |
|
|
|
- |
|
Disposals |
- |
( |
- |
( |
- |
|
At 31 March 2024 |
|
|
|
|
|
|
Depreciation |
||||||
At 1 April 2023 |
|
|
|
|
|
|
Charge for the year |
- |
|
|
|
|
|
Eliminated on disposal |
- |
- |
- |
( |
- |
|
At 31 March 2024 |
|
|
|
|
|
|
Carrying amount |
||||||
At 31 March 2024 |
- |
|
|
|
|
|
At 31 March 2023 |
- |
|
|
( |
|
Total |
||||||
Cost or valuation |
||||||
At 1 April 2023 |
|
|||||
Additions |
|
|||||
Disposals |
( |
|||||
At 31 March 2024 |
|
|||||
Depreciation |
||||||
At 1 April 2023 |
|
|||||
Charge for the year |
|
|||||
Eliminated on disposal |
( |
|||||
At 31 March 2024 |
|
|||||
Carrying amount |
||||||
At 31 March 2024 |
|
|||||
At 31 March 2023 |
|
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
Investments |
Company
2024 |
2023 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 April 2023 |
|
Additions |
|
At 31 March 2024 |
|
Provision |
|
Carrying amount |
|
At 31 March 2024 |
|
At 31 March 2023 |
|
Other financial assets |
Group
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Financial assets at amortised cost |
Total |
|
Non-current financial assets |
||
Cost or valuation |
||
At 1 April 2023 |
4,789 |
4,789 |
At 31 March 2024 |
4,789 |
4,789 |
Impairment |
||
Carrying amount |
||
At 31 March 2024 |
|
4,789 |
Financial assets at cost less impairment |
Total |
|
Current financial assets |
||
Cost or valuation |
||
At 1 April 2023 |
40,000 |
40,000 |
At 31 March 2024 |
40,000 |
40,000 |
Impairment |
||
Carrying amount |
||
At 31 March 2024 |
|
40,000 |
Company
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Financial assets at cost less impairment |
Total |
|
Current financial assets |
||
Cost or valuation |
||
At 1 April 2023 |
40,000 |
40,000 |
At 31 March 2024 |
40,000 |
40,000 |
Impairment |
||
Carrying amount |
||
At 31 March 2024 |
|
40,000 |
Stocks |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
Raw materials and consumables |
|
|
- |
- |
Merchandise |
|
|
- |
- |
Production supplies |
|
|
- |
- |
Work in progress |
( |
( |
- |
- |
Finished goods and goods for resale |
|
|
- |
- |
|
|
- |
- |
Group
Debtors |
Group |
Company |
||||
Current |
Note |
2024 |
2023 |
2024 |
2023 |
Trade debtors |
|
|
- |
- |
|
Amounts owed by related parties |
- |
- |
|
|
|
Other debtors |
|
|
- |
- |
|
Prepayments |
- |
|
- |
- |
|
Deferred tax assets |
( |
( |
- |
- |
|
Income tax asset |
|
|
- |
- |
|
|
|
|
|
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Group |
Company |
||||
Non-current |
Note |
2024 |
2023 |
2024 |
2023 |
Deferred tax assets |
|
|
- |
- |
|
|
|
- |
- |
Cash and cash equivalents |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
Cash on hand |
|
|
|
|
Cash at bank |
|
|
|
|
|
|
|
|
|
Bank overdrafts |
( |
- |
- |
- |
Cash and cash equivalents in statement of cash flows |
110,709 |
146,241 |
44,931 |
79,991 |
Creditors |
Group |
Company |
||||
Note |
2024 |
2023 |
2024 |
2023 |
|
Due within one year |
|||||
Loans and borrowings |
|
|
- |
- |
|
Trade creditors |
|
|
- |
- |
|
Social security and other taxes |
|
|
- |
- |
|
Outstanding defined contribution pension costs |
|
|
- |
- |
|
Other payables |
|
|
- |
- |
|
Accruals |
|
|
- |
- |
|
Income tax liability |
41,440 |
42,877 |
- |
- |
|
Gross amount due to customers for contract work |
|
|
- |
- |
|
|
|
- |
- |
||
Due after one year |
|||||
Loans and borrowings |
|
|
- |
- |
Provisions for liabilities |
Group
Futurepump Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Deferred tax |
Other provisions |
Total |
|
At 1 April 2023 |
|
|
|
Additional provisions |
|
|
|
At 31 March 2024 |
|
|
|
|
Pension and other schemes |
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
- |
- |
- |
- |
Loans and borrowings |
Non-current loans and borrowings
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
Other borrowings |
|
|
- |
- |
Current loans and borrowings
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
Bank overdrafts |
|
- |
- |
- |
Other borrowings |
- |
|
- |
- |
|
|
- |
- |