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Company registration number: 04570133
Shaping Tomorrow Limited
Unaudited filleted financial statements
31 December 2024
Shaping Tomorrow Limited
Contents
Statement of financial position
Notes to the financial statements
Shaping Tomorrow Limited
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Intangible assets 4 - -
Current assets
Debtors 5 5,567 52,063
Cash at bank and in hand 17,275 13,075
_______ _______
22,842 65,138
Creditors: amounts falling due
within one year 6 ( 29,260) ( 51,480)
_______ _______
Net current (liabilities)/assets ( 6,418) 13,658
_______ _______
Total assets less current liabilities ( 6,418) 13,658
Creditors: amounts falling due
after more than one year 7 ( 32,263) ( 39,777)
_______ _______
Net liabilities ( 38,681) ( 26,119)
_______ _______
Capital and reserves
Called up share capital 1,725 1,725
Share premium account 900 900
Profit and loss account ( 41,306) ( 28,744)
_______ _______
Shareholders deficit ( 38,681) ( 26,119)
_______ _______
For the year ending 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:
- 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.
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.
These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:
Mr M N Richardson
Director
Company registration number: 04570133
Shaping Tomorrow Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Red Barn, Marchants Close, Hurstpierpoint, BN6 9UZ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Going concern
As at 31 December 2024, the company had an excess of liabilities over assets totalling £38,681. The company is dependent upon the future financial support of its bankers, and on the basis that the director considers this support is forthcoming, it is appropriate for the financial statements to prepared on the going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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:
Patents & Licences - 20 % straight line
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.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 January 2024 and 31 December 2024 211 211
_______ _______
Amortisation
At 1 January 2024 and 31 December 2024 211 211
_______ _______
Carrying amount
At 31 December 2024 - -
_______ _______
At 31 December 2023 - -
_______ _______
5. Debtors
2024 2023
£ £
Trade debtors 4,900 51,436
Other debtors 667 627
_______ _______
5,567 52,063
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 7,412 6,212
Trade creditors 48 9,142
Social security and other taxes 1,252 5,651
Other creditors 20,548 30,475
_______ _______
29,260 51,480
_______ _______
7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 32,263 39,777
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr M N Richardson ( 25,556) 9,500 ( 16,056)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr M N Richardson ( 5,017) ( 20,539) ( 25,556)
_______ _______ _______
The loan is provided on an interest free basis and is repayable on demand.