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Registered Number: 08057161
England and Wales

 

 

 

FUTURE DEVELOPMENTS (LEEDS) LIMITED


Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 October 2024
Directors Gary Ineson
Ryan McHale
Registered Number 08057161
Registered Office 48 Ringwood Drive
Wellington Hill
Leeds
West Yorkshire
LS14 1AP
Accountants UWM Accountants
UWM House
6 Fusion Court
Leeds
West Yorkshire
LS25 2GH
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,073,149    1,103,631 
1,073,149    1,103,631 
Current assets      
Stocks 4 7,500    2,338 
Debtors 5 276,208    13,238 
Cash at bank and in hand 519,096    346,277 
802,804    361,853 
Creditors: amount falling due within one year 6 (349,804)   (15,394)
Net current assets 453,000    346,459 
 
Total assets less current liabilities 1,526,149    1,450,090 
Creditors: amount falling due after more than one year 7 (261,260)   (450,726)
Provisions for liabilities 8 (72,668)   (79,530)
Net assets 1,192,221    919,834 
 

Capital and reserves
     
Called up share capital 100    100 
Fair Value Reserves 9 211,874    231,374 
Profit and loss account 980,247    688,360 
Shareholders' funds 1,192,221    919,834 
 


For the period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 10 March 2025 and were signed on its behalf by:


-------------------------------
Ryan McHale
Director
2
General Information
Future Developments (Leeds) Limited is a private company, limited by shares, registered in England and Wales, registration number 08057161, registration address 48 Ringwood Drive, Wellington Hill, Leeds, West Yorkshire, LS14 1AP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 25% reducing balance
Investment properties
Investment properties are included in the statement of financial position at their open market value at the statement of financial position date. The resulting aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the period was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Investment properties   Plant and machinery etc   Total
  £   £   £
At 01 June 2023 1,090,975    30,000    1,120,975 
Additions    
Disposals    
Revaluations (26,000)     (26,000)
At 31 October 2024 1,064,975    30,000    1,094,975 
Depreciation
At 01 June 2023   17,344    17,344 
Charge for period   4,482    4,482 
On disposals    
At 31 October 2024   21,826    21,826 
Net book values
Closing balance as at 31 October 2024 1,064,975    8,174    1,073,149 
Opening balance as at 01 June 2023 1,090,975    12,656    1,103,631 


4.

Stocks

2024
£
  2023
£
Stocks 7,500    2,338 
7,500    2,338 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 124,761    4,649 
Other Debtors 151,447    8,589 
276,208    13,238 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 42,622    3,405 
Bank Loans & Overdrafts 189,848    8,168 
Taxation and Social Security 113,421   
Other Creditors 3,913    3,821 
349,804    15,394 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 261,260    450,726 
261,260    450,726 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 72,668    79,530 
72,668    79,530 

9.

Fair Value Reserves

2024
£
  2023
£
Fair Value Reserve (19,500)  
Fair Value Reserve b/fwd 231,374    231,374 
211,874    231,374 

3