Acorah Software Products - Accounts Production 16.2.850 false true true 31 March 2023 20 May 2022 false 1 April 2023 31 March 2024 31 March 2024 14120646 Mr R M Rezk iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14120646 2023-03-31 14120646 2024-03-31 14120646 2023-04-01 2024-03-31 14120646 frs-core:ShareCapital 2024-03-31 14120646 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 14120646 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14120646 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 14120646 frs-bus:SmallEntities 2023-04-01 2024-03-31 14120646 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 14120646 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 14120646 frs-core:CostValuation 2023-03-31 14120646 frs-core:CostValuation 2024-03-31 14120646 frs-core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal 2024-03-31 14120646 frs-core:ProvisionsForImpairmentInvestments 2024-03-31 14120646 frs-bus:Director1 2023-04-01 2024-03-31 14120646 frs-countries:EnglandWales 2023-04-01 2024-03-31 14120646 2022-05-19 14120646 2023-03-31 14120646 2022-05-20 2023-03-31 14120646 frs-core:ShareCapital 2023-03-31 14120646 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 14120646
Future Hospitality Group Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Abridged Balance Sheet 1
Notes to the Abridged Financial Statements 2
Page 1
Abridged Balance Sheet
Registered number: 14120646
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 2,702,680 7,019,046
2,702,680 7,019,046
CURRENT ASSETS
Debtors 100 100
100 100
Creditors: Amounts Falling Due Within One Year (2,722,598 ) (7,032,370 )
NET CURRENT ASSETS (LIABILITIES) (2,722,498 ) (7,032,270 )
TOTAL ASSETS LESS CURRENT LIABILITIES (19,818 ) (13,224 )
NET LIABILITIES (19,818 ) (13,224 )
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account (19,918 ) (13,324 )
SHAREHOLDERS' FUNDS (19,818) (13,224)
For the year ending 31 March 2024 the company was entitled to exemption from audit 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr R M Rezk
Director
13 May 2025
The notes on page 2 form part of these financial statements.
Page 1
Page 2
Notes to the Abridged Financial Statements
1. General Information
Future Hospitality Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14120646 . The registered office is Regent House Allum Gate, Theobald Street, Borehamwood, Herts, WD6 4RS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the balance sheet date, the company had net current liabilities of £2,722,498 (2023: £7,032,270) and a net deficit of £19,818 (2023: £13,224). The parent company has given an undertaking to financially support the company for at least 12 months from the date of the signature on the Balance Sheet. The situation will be reviewed after this time. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
2.3. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.4. Valutaion of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Investments
Total
£
Cost
As at 1 April 2023 7,019,046
As at 31 March 2024 7,019,046
Provision
As at 1 April 2023 -
Revaluations 4,316,366
As at 31 March 2024 4,316,366
Net Book Value
As at 31 March 2024 2,702,680
As at 1 April 2023 7,019,046
The investment relates to the 98.02% ownership of Future Touristic Investment Company S.A.E, a company registered in Egypt. The original investment is stated at cost and was made in Egyptian Pounds. The revaluation during the year reflects the conversion to GBP using the rate at the balance sheet date.
5. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
Page 2