Company Registration No. 07644491 (England and Wales)
Future IT Consultancy Limited
Unaudited accounts
for the year ended 31 May 2025
Future IT Consultancy Limited
Statement of financial position
as at 31 May 2025
Cash at bank and in hand
513
3,624
Creditors: amounts falling due within one year
(335,646)
(269,372)
Net current assets
106,421
25,399
Total assets less current liabilities
106,421
25,399
Creditors: amounts falling due after more than one year
(58,602)
(41,394)
Net assets/(liabilities)
47,819
(15,995)
Called up share capital
2,000
2,000
Profit and loss account
45,819
(17,995)
Shareholders' funds
47,819
(15,995)
For the year ending 31 May 2025 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 August 2025 and were signed on its behalf by
Mohammed Faisal Aslam
Director
Company Registration No. 07644491
Future IT Consultancy Limited
Notes to the Accounts
for the year ended 31 May 2025
Future IT Consultancy Limited is a private company, limited by shares, registered in England and Wales, registration number 07644491. The registered office is Part Third Floor, Chester Wing,, City Point, 701 Chester Road, Stretford, Manchester, Lancashire, M32 0RW, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Amounts falling due within one year
Trade debtors
149,563
84,669
Accrued income and prepayments
288,991
203,478
Future IT Consultancy Limited
Notes to the Accounts
for the year ended 31 May 2025
5
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
5,684
6,994
Trade creditors
69,421
47,074
Taxes and social security
124,686
67,120
Other creditors
39,537
39,537
Loans from directors
69,854
92,722
6
Creditors: amounts falling due after more than one year
2025
2024
7
Average number of employees
During the year the average number of employees was 20 (2024: 10).