REGISTERED NUMBER: 13089125 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Furusato Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D S Fitzsimmons

K C Hazard

REGISTERED OFFICE:

Oriel House

2 - 8 Oriel Road

Bootle

Merseyside

L20 7EP

REGISTERED NUMBER:

13089125 (England and Wales)

ACCOUNTANTS:

SB&P

Chartered Accountants

Oriel House

2-8 Oriel Road

Bootle

Liverpool

Merseyside

L20 7EP

FIXED ASSETS

Tangible assets

4

49,663

62,555

CURRENT ASSETS

Stocks

6,321

15,000

Debtors

5

8,255

1,131

Cash at bank and in hand

38,273

19,338

52,849

35,469

CREDITORS

Amounts falling due within one year

6

128,482

121,076

NET CURRENT LIABILITIES

(75,633

)

(85,607

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(25,970

)

(23,052

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(25,971

)

(23,053

)

SHAREHOLDERS' FUNDS

(25,970

)

(23,052

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

D S Fitzsimmons - Director

1.	STATUTORY INFORMATION

Furusato Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

89,910

4,400

94,310

Additions

-

748

748

At 31 December 2024

89,910

5,148

95,058

DEPRECIATION

At 1 January 2024

30,288

1,467

31,755

Charge for year

11,924

1,716

13,640

At 31 December 2024

42,212

3,183

45,395

NET BOOK VALUE

At 31 December 2024

47,698

1,965

49,663

At 31 December 2023

59,622

2,933

62,555

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

8,000

702

Prepayments

255

429

8,255

1,131

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

22,849

16,898

Tax

1,885

267

Social security and other taxes

15,566

4,836

Pension

1,076

669

VAT

42,787

33,397

Other creditors

22,551

50,525

Directors' current accounts

19,463

11,148

Accrued expenses

2,305

3,336

128,482

121,076

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

D S Fitzsimmons

Balance outstanding at start of year

-

6,068

Amounts advanced

-

4,990

Amounts repaid

-

(11,058

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-