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COMPANY REGISTRATION NUMBER: 05565503
FUTURE NETWORKING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2025
FUTURE NETWORKING LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2025
2025
2024
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
500
750
Tangible assets
6
40,816
54,497
--------
--------
41,316
55,247
CURRENT ASSETS
Debtors
7
187,919
193,615
Cash at bank and in hand
1,974
8,794
---------
---------
189,893
202,409
CREDITORS: amounts falling due within one year
8
36,326
41,227
---------
---------
NET CURRENT ASSETS
153,567
161,182
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
194,883
216,429
CREDITORS: amounts falling due after more than one year
9
42,640
56,830
---------
---------
NET ASSETS
152,243
159,599
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Profit and loss account
152,143
159,499
---------
---------
SHAREHOLDERS FUNDS
152,243
159,599
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
FUTURE NETWORKING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 8 August 2025 , and are signed on behalf of the board by:
Mr G L Butlin Director
Company registration number: 05565503
FUTURE NETWORKING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Carriage Drive, Kettering, Northamptonshire, NN16 9EN, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 20 years on a straight line basis
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% on a reducing balance method
Computer equipment
-
33% on a straight line basis
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
5,000
-------
Amortisation
At 1 April 2024
4,250
Charge for the year
250
-------
At 31 March 2025
4,500
-------
Carrying amount
At 31 March 2025
500
-------
At 31 March 2024
750
-------
6. TANGIBLE ASSETS
Motor vehicles
Computer equipment
Total
£
£
£
Cost
At 1 April 2024 and 31 March 2025
72,560
597
73,157
--------
----
--------
Depreciation
At 1 April 2024
18,140
520
18,660
Charge for the year
13,605
76
13,681
--------
----
--------
At 31 March 2025
31,745
596
32,341
--------
----
--------
Carrying amount
At 31 March 2025
40,815
1
40,816
--------
----
--------
At 31 March 2024
54,420
77
54,497
--------
----
--------
7. DEBTORS
2025
2024
£
£
Trade debtors
31,169
24,956
Other debtors
156,750
168,659
---------
---------
187,919
193,615
---------
---------
8. CREDITORS: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
7,200
7,200
Trade creditors
4,109
4,111
Corporation tax
13,347
18,246
Other creditors
11,670
11,670
--------
--------
36,326
41,227
--------
--------
9. CREDITORS: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,810
10,010
Other creditors
39,830
46,820
--------
--------
42,640
56,830
--------
--------
10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr G P Butlin
137,225
108,548
( 123,140)
122,633
---------
---------
---------
---------
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr G P Butlin
124,315
147,556
( 134,646)
137,225
---------
---------
---------
---------