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Registered Number: 10521711
England and Wales

 

 

 

FUTURE HORIZONS PROPERTY DEVELOPMENT LTD



Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
Directors Dave Fenty
Gary James Stead
Registered Number 10521711
Registered Office 49 Oldfield Lane
Leeds
West Yorkshire
LS12 4BS
Accountants UWM Accountants
UWM House
6 Fusion Court
Garforth
Leeds
LS25 2GH
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 377,500    262,936 
377,500    262,936 
Current assets      
Cash at bank and in hand 1,711    1,769 
Creditors: amount falling due within one year 4 (260,714)   (260,065)
Net current assets (259,003)   (258,296)
 
Total assets less current liabilities 118,497    4,640 
Provisions for liabilities 5 (21,767)  
Net assets 96,730    4,640 
 

Capital and reserves
     
Called up share capital 2    2 
Fair Value Reserves 6 92,797   
Profit and loss account 3,931    4,638 
Shareholders' funds 96,730    4,640 
 


For the year ended 31 December 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 year 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 02 June 2025 and were signed on its behalf by:


-------------------------------
Gary James Stead
Director
2
General Information
Future Horizons Property Development Ltd is a private company, limited by shares, registered in England and Wales, registration number 10521711, registration address 49 Oldfield Lane, Leeds, West Yorkshire, LS12 4BS.

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
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:
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 year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 January 2024 262,936    262,936 
Additions  
Disposals  
Revaluations 114,564    114,564 
At 31 December 2024 377,500    377,500 
Depreciation
At 01 January 2024  
Charge for year  
On disposals  
At 31 December 2024  
Net book values
Closing balance as at 31 December 2024 377,500    377,500 
Opening balance as at 01 January 2024 262,936    262,936 


4.

Creditors: amount falling due within one year

2024
£
  2023
£
Bank Loans & Overdrafts 108,220    118,618 
Other Creditors 152,494    141,447 
260,714    260,065 

5.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 21,767   
21,767   

6.

Fair Value Reserves

2024
£
  2023
£
Fair Value Reserve 92,797   
92,797   

3