FUTURE TRANSFORMATION CIC

Company limited by guarantee

Company Registration Number:
12884286 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 1 October 2023

End date: 30 September 2024

FUTURE TRANSFORMATION CIC

Contents of the Financial Statements

for the Period Ended 30 September 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

FUTURE TRANSFORMATION CIC

Balance sheet

As at 30 September 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 3,368 4,689
Total fixed assets: 3,368 4,689
Current assets
Debtors: 4 2,870 6,616
Cash at bank and in hand: 1,908 12,550
Total current assets: 4,778 19,166
Creditors: amounts falling due within one year: 5 ( 59,090 ) ( 19,746 )
Net current assets (liabilities): (54,312) (580)
Total assets less current liabilities: (50,944) 4,109
Total net assets (liabilities): (50,944) 4,109
Members' funds
Profit and loss account: (50,944) 4,109
Total members' funds: ( 50,944) 4,109

The notes form part of these financial statements

FUTURE TRANSFORMATION CIC

Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 5 March 2025
and signed on behalf of the board by:

Name: Tim Rogers
Status: Director

The notes form part of these financial statements

FUTURE TRANSFORMATION CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

    Tangible fixed assets depreciation policy

    Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Computers 20% straight line Motor vehicles 20% straight line

    Other accounting policies

    Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

FUTURE TRANSFORMATION CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 3

FUTURE TRANSFORMATION CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 October 2023 2,605 4,000 6,605
Additions
Disposals
Revaluations
Transfers
At 30 September 2024 2,605 4,000 6,605
Depreciation
At 1 October 2023 649 1,267 1,916
Charge for year 521 800 1,321
On disposals
Other adjustments
At 30 September 2024 1,170 2,067 3,237
Net book value
At 30 September 2024 1,435 1,933 3,368
At 30 September 2023 1,956 2,733 4,689

FUTURE TRANSFORMATION CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Debtors

2024 2023
£ £
Other debtors 2,870 6,616
Total 2,870 6,616

FUTURE TRANSFORMATION CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 59,090 19,746
Total 59,090 19,746

COMMUNITY INTEREST ANNUAL REPORT

FUTURE TRANSFORMATION CIC

Company Number: 12884286 (England and Wales)

Year Ending: 30 September 2024

Company activities and impact

The company runs Future Transformation which provides outreach & inspiration to young people from disadvantaged communities. Future Transformation has benefitted the community in the following ways: - Providing access to technology to young people from disadvantaged backgrounds preparing them for sustainable, high skilled, well paid employment. - The previous financial year has given a base for an additional new job in Future Transformation. - Thousands of young people have had aspirations raised and are now aware of tech roles available to them after school. - Employers, schools and college relationships have been improved with better access for students to see working life and new tech courses and apprenticeships. - 66% of young people want further tech courses and interactions.

Consultation with stakeholders

The company's stakeholders are schools, colleges, businesses and young people across the region. We ask participants of programmes and activities about their experiences. This helps build a profile of more engaging fulfilling experiences which will develop new skills and provide the workforce of the future.

Directors' remuneration

Directors remuneration amounted to £42,666 in total. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director's loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
5 March 2025

And signed on behalf of the board by:
Name: Tim Rogers
Status: Director