Registered number
05595590
FUTURECOURT INVESTMENTS LIMITED
Unaudited Filleted Accounts
30 April 2024
TEMPLETONS (UK) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
FUTURECOURT INVESTMENTS LIMITED
Registered number: 05595590
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,600,112 1,600,132
Current assets
Debtors 4 45,609 58,734
Cash at bank and in hand 212 4,013
45,821 62,747
Creditors: amounts falling due within one year 5 (73,371) (73,777)
Net current liabilities (27,550) (11,030)
Total assets less current liabilities 1,572,562 1,589,102
Creditors: amounts falling due after more than one year 6 (838,491) (837,948)
Provisions for liabilities (145,967) (145,966)
Net assets 588,104 605,188
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 621,952 621,952
Profit and loss account (33,948) (16,864)
Shareholder's funds 588,104 605,188
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.
Mr S Raisinghani
Director
Approved by the board on 24 July 2025
FUTURECOURT INVESTMENTS 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 receivable. Turnover includes revenue earned from rental of owned leasehold Investment Properties.
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 15% reducing balance
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
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/ Valuation Valuation
At 1 May 2023 1,600,000 3,441 1,603,441
At 30 April 2024 1,600,000 3,441 1,603,441
Depreciation
At 1 May 2023 - 3,309 3,309
Charge for the year - 20 20
At 30 April 2024 - 3,329 3,329
Net book value
At 30 April 2024 1,600,000 112 1,600,112
At 30 April 2023 1,600,000 132 1,600,132
Freehold land and buildings: 2024 2023
£ £
Historical cost 832,158 832,158
Cumulative depreciation based on historical cost - -
832,158 832,158
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 44,674 57,799
Other debtors 935 935
45,609 58,734
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 304
Trade creditors 50,902 55,857
Corporation tax 3,985 3,985
Other creditors 18,484 13,631
73,371 73,777
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 838,491 837,948
Bank loans are secured against the investment properties owned by the company.
7 Revaluation reserve 2024 2023
£ £
At 1 May 2023 621,952 621,952
At 30 April 2024 621,952 621,952
This related to the gain arising on revaluation of the company's Investment properties, as at
30 April 2024. The valuation was carried out by the company directors' based on market
values. The directors are not aware of any material change in value since the date of the valuation.
8 Related party transactions
(i) At the year end the inter-company balance with Futurecourt Delopments Limited, the holding
company ( see note 10 below) , was as follows:
Receivable from Futurecourt Delopments Limited 12,174 12,799
(disclosed under debtors in note 4 above)
(ii) At the year end the inter-company balance with Stone Black Limited, a company in which
Mr S Raisinghani is also a Director, was as follows:
Receivable from Stoneblack Limited 32,500 45,000
(disclosed under debtors in note 4 above)
9 Controlling party
The holding company is Futurecourt Developments Limited, a company registered in the UK which holds 100% share capital of Futurecourt Investments Limited.
10 Other information
FUTURECOURT INVESTMENTS 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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