3 01/04/2024 31/03/2025 2025-03-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2024-04-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 12572230 2024-04-01 2025-03-31 12572230 2025-03-31 12572230 2024-03-31 12572230 2023-04-01 2024-03-31 12572230 2024-03-31 12572230 2023-03-31 12572230 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 12572230 bus:Director1 2024-04-01 2025-03-31 12572230 core:WithinOneYear 2025-03-31 12572230 core:WithinOneYear 2024-03-31 12572230 core:FurnitureFittingsToolsEquipment 2025-03-31 12572230 core:ShareCapital 2025-03-31 12572230 core:ShareCapital 2024-03-31 12572230 core:RetainedEarningsAccumulatedLosses 2025-03-31 12572230 core:RetainedEarningsAccumulatedLosses 2024-03-31 12572230 bus:OrdinaryShareClass1 core:ShareCapital 2025-03-31 12572230 bus:OrdinaryShareClass1 core:ShareCapital 2024-03-31 12572230 bus:Director1 2024-03-31 12572230 bus:Director1 2025-03-31 12572230 bus:Director1 2023-03-31 12572230 bus:Director1 2024-03-31 12572230 bus:Director1 2023-04-01 2024-03-31 12572230 bus:SmallEntities 2024-04-01 2025-03-31 12572230 bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 12572230 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 12572230 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 12572230 bus:FullAccounts 2024-04-01 2025-03-31 12572230 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31
Company registration number: 12572230
The Future Project Ltd
Unaudited filleted financial statements
31 March 2025
The Future Project Ltd
Contents
Balance sheet
Notes to the financial statements
The Future Project Ltd
Balance sheet
31 March 2025
2025 2024
Note £ £ £ £
Current assets
Debtors 6 259,286 270,715
Cash at bank and in hand 163,556 9,402
_______ _______
422,842 280,117
Creditors: amounts falling due
within one year 7 ( 173,437) ( 99,587)
_______ _______
Net current assets 249,405 180,530
_______ _______
Total assets less current liabilities 249,405 180,530
_______ _______
Net assets 249,405 180,530
_______ _______
Capital and reserves
Called up share capital 8 60 60
Profit and loss account 249,345 180,470
_______ _______
Shareholder funds 249,405 180,530
_______ _______
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 April 2025 , and are signed on behalf of the board by:
......................................................
S Jacobson
Director
Company registration number: 12572230
The Future Project Ltd
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 84 Roseberry Gardens, London, N4 1JL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer Equipment - Over 3 Years
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2024 and 31 March 2025 381 381
_______ _______
Depreciation
At 1 April 2024 and 31 March 2025 381 381
_______ _______
Carrying amount
At 31 March 2025 - -
_______ _______
At 31 March 2024 - -
_______ _______
6. Debtors
2025 2024
£ £
Trade debtors 223,524 251,101
Other debtors 35,762 19,614
_______ _______
259,286 270,715
_______ _______
7. Creditors: amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts - 2,295
Trade creditors 109,922 63,989
Accruals and deferred income 870 500
Corporation tax 42,661 24,308
Social security and other taxes 9,984 8,495
Other creditors 10,000 -
_______ _______
173,437 99,587
_______ _______
8. Called up share capital
Issued, called up and fully paid
2025 2024
No £ No £
Ordinary shares of £ 1.00 each 60 60 60 60
_______ _______ _______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
S Jacobson 19,614 16,148 35,762
_______ _______ _______
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
S Jacobson 10,037 9,577 19,614
_______ _______ _______