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REGISTERED NUMBER: 08011293 (England and Wales)













AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FUTURICE LIMITED

FUTURICE LIMITED (REGISTERED NUMBER: 08011293)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FUTURICE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: D J Mitchell
M Viikari
M D Edwards
T J Didcock
J Trindler





REGISTERED OFFICE: 10 John Street
London
WC1N 2EB





REGISTERED NUMBER: 08011293 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

FUTURICE LIMITED (REGISTERED NUMBER: 08011293)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 208 1,912

CURRENT ASSETS
Debtors 5 1,849,342 648,815
Cash at bank 445,307 672,144
2,294,649 1,320,959
CREDITORS
Amounts falling due within one year 6 1,026,536 478,902
NET CURRENT ASSETS 1,268,113 842,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,268,321

843,969

CAPITAL AND RESERVES
Called up share capital 8 2,342 2,338
Share premium 11,346 8,687
Other reserves 1,248 1,248
Retained earnings 1,253,385 831,696
SHAREHOLDERS' FUNDS 1,268,321 843,969

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2025 and were signed on its behalf by:





M D Edwards - Director


FUTURICE LIMITED (REGISTERED NUMBER: 08011293)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Futurice Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

After making enquiries, the director has the reasonable expectations that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least 12 months and 1 day from the date these financial statements were approved. This expectation is based on the significant improvement in trading seen in the year, and a review of all financial information available at the date of approval of these financial statements.

Turnover
Turnover represents net invoiced sales of services relating to contracts headed by the Company, excluding value added tax, recognised on a time spent basis over the length of the contract, which relates entirely to the principal activity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% - 33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Financial instruments
Basic financial instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company does not have any other financial instrument as covered by Section 12 of FRS 102.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
The company recognises Research and Development Tax Credits with HMRC on the receipts basis.

FUTURICE LIMITED (REGISTERED NUMBER: 08011293)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 31 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 17,245
DEPRECIATION
At 1 January 2024 15,333
Charge for year 1,704
At 31 December 2024 17,037
NET BOOK VALUE
At 31 December 2024 208
At 31 December 2023 1,912

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 1,225,534 421,914
Amounts owed by group undertakings - 15,735
Other debtors 623,808 211,166
1,849,342 648,815

FUTURICE LIMITED (REGISTERED NUMBER: 08011293)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 147,874 35,284
Amounts owed to group undertakings 203,209 -
Taxation and social security 180,452 159,346
Other creditors & accruals 495,001 284,272
1,026,536 478,902

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 7,648 7,648
Between one and five years 804 8,081
8,452 15,729

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
201,582 Ordinary £0.01 2,016 2,016
15,167 EO Shares £0.01 152 148
17,397 Deferred shares £0.01 174 174
2,342 2,338

400 EO Shares shares of £0.01 each were allotted as fully paid at a premium of 665p per share during the year.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Emma Crowley (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-

"Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."

FUTURICE LIMITED (REGISTERED NUMBER: 08011293)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

10. RELATED PARTY DISCLOSURES

In the year, Futurice Limited made purchases of £381,033 (2023: £106,218) and sales of £273,203 (2023: £8,034) to the parent company, Futurice Oy. The balance outstanding due to Futurice Oy at the year end is £118,998 (2023: Debtor £8,106).

In the year, Futurice Limited made purchases of £315,039 (2023: £25,534) and sales of £7,361 (2023: £12,993) to a sister company, Futurice GmbH.The balance outstanding due to Futurice GmbH at the year end is £27,983 (2023: Debtor £7,629)

In the year, Futurice Limited made purchases of £420,231 (2023: £115,704) from a sister company, Futurice Hubs Oy. The balance outstanding due to Futurice Hubs Oy at the year end is £51,936 (2023: £NIL)

In the year, Futurice Limited made purchases of £15,044 (2023: £104,465) from a group company, Columbia Road AB. The balance outstanding due to Futurice Hubs Oy at the year end is £4,292 (2023: £NIL)

As at 31 December 2024, other creditors includes a loan balance to Trevor Didcock, a director, of £108,778 (2023: £100,750).

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party in the opinion of the Directors.

12. ULTIMATE PARENT COMPANY

The ultimate parent company is Futurice OY., a company incorporated in Finland. Futurice OY's registered office is Kansakoulukatu 3, 00100 Helsinki, Finland. Futurice OY is the largest group company to prepare consolidated financial statements.

Consolidated financial statements are not made publicly available.