Registered number
03758766
FUTURECOURT DEVELOPMENTS LIMITED
Unaudited Filleted Accounts
30 April 2024
TEMPLETONS (HOLDINGS) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
FUTURECOURT DEVELOPMENTS LIMITED
Registered number: 03758766
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 60,021 60,028
Investments 4 100 100
60,121 60,128
Current assets
Stocks 11,797 11,797
Debtors 5 435,954 445,537
Cash at bank and in hand 7,055 6,349
454,806 463,683
Creditors: amounts falling due within one year 6 (84,456) (88,663)
Net current assets 370,350 375,020
Total assets less current liabilities 430,471 435,148
Creditors: amounts falling due after more than one year 7 (3,250) (6,250)
Provisions for liabilities (30) (30)
Net assets 427,191 428,868
Capital and reserves
Called up share capital 2 2
Profit and loss account 427,189 428,866
Shareholder's funds 427,191 428,868
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Raisinghani
Director
Approved by the board on 24 July 2025
FUTURECOURT DEVELOPMENTS LIMITED
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned ground rent Income and service charges.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 60,000 629 60,629
At 30 April 2024 60,000 629 60,629
Depreciation
At 1 May 2023 - 601 601
Charge for the year - 7 7
At 30 April 2024 - 608 608
Net book value
At 30 April 2024 60,000 21 60,021
At 30 April 2023 60,000 28 60,028
Freehold land and buildings: 2024 2023
£ £
Historical cost 60,000 60,000
Cumulative depreciation based on historical cost - -
60,000 60,000
The land and building consist of ground rent interest. The director believe that the cost and the
valuation of the ground rent interest are not materially different and therefore no adjustment is
done for valuation.
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 May 2023 100
At 30 April 2024 100
The investment in subsidiary undertakings relates to the investment in Futurecourt Investments
Limited, a company incorporated in the UK, and is 100% owned by Futurecourt Developments
Limited.
The company has taken advantage of the exemption under section 402 of Companies Act 2006,
not to prepare Consolidated Accounts, as the group qualifies as a small group.
5 Debtors 2024 2023
£ £
Trade debtors 105,482 28,400
Other debtors 330,472 417,137
435,954 445,537
Other debtors include an amount of £133,346 (2023: £176,346) for loan given to other organisation and is repayable in full on demand.
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loan ( see note 7 below) 3,000 3,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest 34,580 45,718
Taxation and social security costs 26,474 26,474
Other creditors 20,402 13,471
84,456 88,663
7 Creditors: amounts falling due after more than one year 2024 2023
£ £
Bank loan 3,250 6,250
The bank loan is unsecured and is repayable over a period of 5 years and with an interest rate of 2.5% yearly
8 Controlling Party
The company was under the control of Mr S Raisinghani, a director and sole shareholder of the
company throughout the year.
9 Related party transactions
(i) At the year end, the inter-company balance with Stoneblack Limited , a company in which
Mr S Raisinghani is also a Director was as follows:
2024 2023
£ £
Payable to Stoneblack Limited - as disclosed under creditors 16,306 28,018
in note 6 above
(ii) At the year end, the inter-company balance with Futurecourt Investments Limited was as
follows:
2024 2023
£ £
Payable to Futurecourt Investments Limited (note 6 above) 16,635 12,699
(iii) At the year end, the inter-company balance with Stoneblack Development Limited , a company
in which Mr S Raisinghani is also a shareholder and director was as follows:
2024 2023
£ £
Payable to Stoneblack development Limited - 5,000 5,000
disclosed under creditors in notes 6 above
(v) The Director's loan was overdrawn at the year end by £146,292 ( 2023 - £122,032) and is
included under other debtors in note 5 above. Interest of 3% was charged on the loan.
10 Other information
FUTURECOURT DEVELOPMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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