Registration number:
Future Leap Finance Ltd
for the Year Ended 31 March 2024
Pages for filing with Registrar
Future Leap Finance Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Future Leap Finance Ltd
Company Information
Directors |
D Proctor A Bailey |
Registered office |
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Registered number |
13982042 |
Accountant |
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Future Leap Finance Ltd
(Registration number: 13982042)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
|
Current assets |
|||
Debtors |
12,586 |
2,303 |
|
Cash at bank and in hand |
2,082 |
2,311 |
|
14,668 |
4,614 |
||
Creditors: Amounts falling due within one year |
(9,486) |
(5,310) |
|
Net assets/(liabilities) |
5,182 |
(696) |
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Profit and loss account |
5,082 |
(796) |
|
Total equity |
5,182 |
(696) |
Future Leap Finance Ltd
(Registration number: 13982042)
Balance Sheet as at 31 March 2024
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:
• |
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• |
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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
Director
Future Leap Finance Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The comparative information is for the period from 16 March 2022 to 31 March 2023 and thus not entirely comparable.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.
Future Leap Finance Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company 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 company's activities.
Tax
The tax expense for the period comprises current 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 company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
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 company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are recognised at the transaction price.
Future Leap Finance Ltd
Notes to the Unaudited 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 company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Debtors: amounts falling due within one year |
Note |
2024 |
2023 |
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Trade debtors |
9,660 |
- |
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Amounts owed by group undertakings |
50 |
50 |
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Prepayments |
2,363 |
2,250 |
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Other debtors |
513 |
3 |
|
12,586 |
2,303 |
Future Leap Finance Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Creditors |
Note |
2024 |
2023 |
|
Amounts falling due within one year |
|||
Trade creditors |
3,780 |
2,700 |
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Amounts owed to group undertakings |
650 |
850 |
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Taxation and social security |
1,771 |
- |
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Other creditors |
100 |
- |
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Accruals |
1,735 |
1,500 |
|
Corporation tax |
1,190 |
- |
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Directors' loan accounts |
260 |
260 |
|
9,486 |
5,310 |
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Future Leap Finance Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Related party transactions |
Income and receivables from related parties
2024 |
Parent |
Amounts receivable from related party |
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2023 |
Parent |
Amounts receivable from related party |
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Loans from related parties
2024 |
Entities with joint control or significant influence |
At start of period |
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At end of period |
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2023 |
Entities with joint control or significant influence |
Advanced |
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Repaid |
( |
At end of period |
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