FUTURE BOUND IT LTD

Company Registration Number:
11240184 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

FUTURE BOUND IT LTD

Contents of the Financial Statements

for the Period Ended 31 March 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

FUTURE BOUND IT LTD

Company Information

for the Period Ended 31 March 2024




Director: John Pegram
Registered office: 86-90
Paul Street
London
GBR
EC2A 4NE
Company Registration Number: 11240184 (England and Wales)

FUTURE BOUND IT LTD

Directors' Report Period Ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal Activities

The company's principal activities during this period were IT consultancy services and some small commission payments from a distribution channel for an existing customer.

Political and charitable donations

No political or charitable donations were made but the company intends to donate to a charity or not for profit organisation once a quarter in 2025.

Additional information

2025 sees the company in good standing for recovering losses and clearing aged debt. The director will be loaning the business up to £10,000 for sustainability by the end of May 2025. His mental health has played a primary factor over the past 2 years in the company's poor performance however he is now taking ownership and gradually returning to work. We have recently partnered with IBM, Node4 and Clio. Financial forecasting has predicted a £79,000 turnover by the end of 2026. We estimate over 40,000 will be achieved in 2025.

Directors

The directors shown below have held office during the whole of the period from 01 April 2023 to 31 March 2024
John Pegram

This report was approved by the board of directors on 5 January 2025
And Signed On Behalf Of The Board By:

Name: John Pegram
Status: Director

FUTURE BOUND IT LTD

Profit and Loss Account

for the Period Ended 31 March 2024


Notes

2024
£

2023
£
Turnover 3,078 4,629
Cost of sales ( 0 ) ( 0 )
Gross Profit or (Loss) 3,078 4,629
Income from coronavirus (COVID-19) business support grants 0 0
Distribution Costs ( 0 ) ( 0 )
Administrative Expenses ( 858 ) ( 737 )
Other operating income 0 0
Operating Profit or (Loss) 2,220 3,892
Interest Receivable and Similar Income 0 0
Interest Payable and Similar Charges ( 0 ) ( 0 )
Profit or (Loss) Before Tax 2,220 3,892
Tax on Profit ( 554 ) ( 984 )
Profit or (Loss) for Period 1,666 2,908

The notes form part of these financial statements

FUTURE BOUND IT LTD

Balance sheet

As at 31 March 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 50 50
Total fixed assets: 50 50
Current assets
Stocks: 0 0
Cash at bank and in hand: 0 0
Total current assets: 0 0
Prepayments and accrued income: 0 0
Net current assets (liabilities): 0 0
Total assets less current liabilities: 50 50
Provision for liabilities: ( 0 ) ( 0 )
Accruals and deferred income: ( 0 ) ( 0 )
Total net assets (liabilities): 50 50

The notes form part of these financial statements

FUTURE BOUND IT LTD

Balance sheet continued

As at 31 March 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 50 50
Profit and loss account: 0 0
Shareholders funds: 50 50

For the year ending 31 March 2024 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 5 January 2025
And Signed On Behalf Of The Board By:

Name: John Pegram
Status: Director

The notes form part of these financial statements

FUTURE BOUND IT LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

FUTURE BOUND IT LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 1 1

    Sole director, aiming to work with contractors once again in 2025 for positions in IT sales, Digital Marketing and engineering. Implementation of contract roles in April 2025.

FUTURE BOUND IT LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 3. Off balance sheet disclosure

    No

FUTURE BOUND IT LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Tangible assets

Office equipment Total
Cost £ £
At 01 April 2023 50 50
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 March 2024 50 50
Depreciation
At 01 April 2023 - -
Charge for year - -
On disposals - -
Other adjustments - -
At 31 March 2024 - -
Net book value
At 31 March 2024 50 50
At 31 March 2023 50 50