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Registered number: 14314970














FTI ONLINE LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 APRIL 2024

 
FTI ONLINE LIMITED
REGISTERED NUMBER: 14314970

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note

Fixed assets
  

Tangible assets
 4 
3,750
4,796

 
Current assets
  

Stocks
  
153,232
49,755

Debtors: amounts falling due within one year
 5 
268,460
9,029

Cash at bank and in hand
 6 
39,958
5,131

Current liabilities
  
461,650
63,915

Creditors: amounts falling due within one year
 7 
(731,271)
(174,585)

Net current liabilities
  
 
 
(269,621)
 
 
(110,670)

  

Net liabilities
  
£(265,871)
£(105,874)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(265,971)
(105,974)

  
£(265,871)
£(105,874)


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 statement of comprehensive income 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 on 13 February 2025.




................................................
M F Roscoe
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 1

 
FTI ONLINE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Profit and loss account
Total equity


Comprehensive income for the period

Loss for the period
-
(105,974)
(105,974)
Total comprehensive income for the period
-
(105,974)
(105,974)


Contributions by and distributions to owners

Shares issued during the period
100
-
100


Total transactions with owners
£100
£-
£100



At 1 May 2023
100
(105,974)
(105,874)


Comprehensive income for the year

Loss for the year
-
(159,997)
(159,997)
Total comprehensive income for the year
-
(159,997)
(159,997)


At 30 April 2024
£100
£(265,971)
£(265,871)


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FTI ONLINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

FTI Online Limited is a private company, limited by shares, incorporated in England and Wales. 
The company registration number is 14314970. 
The registered office address is Henwood House, Henwood, Ashford, Kent TN24 8DH.
The principal place of business address is 12-16 Grosvenor Road, Tunbridge Wells, Kent, TN1 2AB.

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

Going concern

The financial statements have been prepared on a going concern basis.  The company is dependent on the continuing financial support of its associated entities in order to operate as a going concern. Accordingly, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

 
2.3

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.

The amounts presented in the accounts are rounded to the nearest whole GBP (£).

Page 3

 
FTI ONLINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Interest income

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

 
2.6

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:

Computer equipment
-
20%

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.

 
2.7

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 balance sheet 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.

Page 4

 
FTI ONLINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Computer equipment



Cost or valuation


At 1 May 2023
5,232



At 30 April 2024

5,232



Depreciation


At 1 May 2023
436


Charge for the year on owned assets
1,046



At 30 April 2024

1,482



Net book value



At 30 April 2024
£3,750



At 30 April 2023
£4,796

Page 5

 
FTI ONLINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023


Trade debtors
80,609
3,789

Amounts owed by group undertakings
-
60

Amounts owed by joint ventures and associated undertakings
40
40

Other debtors
2,984
2,046

Prepayments and accrued income
184,827
3,094

£268,460
£9,029



6.


Cash and cash equivalents

2024
2023

Cash at bank and in hand
£39,958
£5,131



7.


Creditors: Amounts falling due within one year

2024
2023

Trade creditors
43,757
71,181

Amounts owed to group undertakings
667,392
64,738

Other taxation and social security
592
-

Proceeds of factored debts
6,637
-

Accruals and deferred income
12,893
38,666

£731,271
£174,585


HSBC hold a fixed and floating charge over all company assets.


8.


Share capital

2024
2023
Allotted, called up and fully paid



100 (2023 - 100) ordinary shares of £1.00 each
£100
£100


Page 6

 
FTI ONLINE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.

Ultimate parent undertaking and controlling party

At the balance sheet date, the immediate and ultimate parent undertaking is Food Team Group Limited, a company incorporated in England and Wales. 
M Roscoe is the controlling party of the company.
The parent undertaking of the group to consolidate their financial statements is Food Team Group Limited, a company incorporated in England and Wales. The registered office of the company is 
Henwood House, Henwood, Ashford, Kent TN24 8DH. 
Food Team Group Limited is also the most senior parent entity producing publicly available financial statements.
Food Team Group Limited has prepared consolidated financial statements which include this company and are publicly available.
 



10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

The audit report was signed on 14 February 2025 by Andrew John Childs FCA (Senior statutory auditor) on behalf of Magee Gammon Corporate Limited.


Page 7