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Registration number: 13888777

Future Leap Clifton Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

Pages for filing with Registrar

 

Future Leap Clifton Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Future Leap Clifton Limited

Company Information

Directors

Mr A N Bailey

Mr P L Cooper

Registered office

The Old Chapel
16 Oakfield Road
Bristol
BS8 2AP

Registered number

13888777

Accountant

Corrigan Accountants Limited 1st Floor
25 King Street
Bristol
BS1 4PB

 

Future Leap Clifton Limited

(Registration number: 13888777)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

39,041

43,379

Current assets

 

Debtors

5

4,713

13,359

Cash at bank and in hand

 

4,654

40,976

 

9,367

54,335

Creditors: Amounts falling due within one year

6

(18,908)

(57,931)

Net current liabilities

 

(9,541)

(3,596)

Total assets less current liabilities

 

29,500

39,783

Provisions for liabilities

(6,750)

(8,242)

Net assets

 

22,750

31,541

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

22,650

31,441

Total equity

 

22,750

31,541

 

Future Leap Clifton Limited

(Registration number: 13888777)
Balance Sheet as at 31 May 2024

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 27 February 2025 and signed on its behalf by:
 

.........................................

Mr A N Bailey
Director

 

Future Leap Clifton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Old Chapel
16 Oakfield Road
Bristol
BS8 2AP

2

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 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.

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 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.

 

Future Leap Clifton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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.


Deferred tax
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

Plant and machinery

10% straight line

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.

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

 

Future Leap Clifton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 3).

4

Tangible fixed assets

Plant and machinery
£

Cost

At 1 June 2023

43,412

At 31 May 2024

43,412

Depreciation

At 1 June 2023

33

Charge for the year

4,338

At 31 May 2024

4,371

Carrying amount

At 31 May 2024

39,041

At 31 May 2023

43,379

5

Debtors: amounts falling due within one year

Note

2024
£

2023
£

Trade debtors

 

2,035

-

Amounts owed by group undertakings

8

-

13,359

Prepayments

 

1,854

-

Other debtors

 

355

-

Corporation tax

 

469

-

 

4,713

13,359

 

Future Leap Clifton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Creditors

Note

2024
£

2023
£

Amounts falling due within one year

 

Trade creditors

 

15,647

28,238

Amounts owed to group undertakings

8

-

25,611

Taxation and social security

 

-

1,963

Other creditors

 

1,000

-

Accruals

 

1,650

1,650

Corporation tax

 

-

469

Directors' loan accounts

 

611

-

 

18,908

57,931

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Future Leap Clifton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

8

Related party transactions

Summary of transactions with entities with joint control or significant interest

Income and receivables from related parties

2024

Parent
£

Entities with joint control or significant influence
£

Receipt of services

-

135,205

Amounts receivable from related party

100

-

2023

Parent
£

Entities with joint control or significant influence
£

Receipt of services

1,786

127,538

Amounts receivable from related party

100

13,259

Expenditure with and payables to related parties

2024

Parent
£

Entities with joint control or significant influence
£

Rendering of services

70,279

37,863

2023

Parent
£

Entities with joint control or significant influence
£

Rendering of services

28,018

18,710

Amounts payable to related party

13,611

12,000