REGISTERED NUMBER: 03540076 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Future Ambitions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L M Warburton

M R Warburton

C F Warburton

REGISTERED OFFICE:

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

REGISTERED NUMBER:

03540076 (England and Wales)

ACCOUNTANTS:

Voisey & Co LLP

Chartered Accountants

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

725,000

725,000

725,000

725,000

CURRENT ASSETS

Debtors

6

167,586

219,042

Cash at bank

16,882

15,903

184,468

234,945

CREDITORS

Amounts falling due within one year

7

86,060

125,125

NET CURRENT ASSETS

98,408

109,820

TOTAL ASSETS LESS CURRENT LIABILITIES

823,408

834,820

CREDITORS

Amounts falling due after more than one year

8

191,504

238,896

NET ASSETS

631,904

595,924

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

366,492

366,492

Retained earnings

265,312

229,332

SHAREHOLDERS' FUNDS

631,904

595,924

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 6 October 2025 and were signed on its behalf by:

M R Warburton - Director

C F Warburton - Director

1.	STATUTORY INFORMATION

Future Ambitions 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 as modified by the revaluation of certain assets.

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.

Computer and office equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

In accordance with SSAP 19, the investment property portfolio of the company is revalued annually on an open market value basis by appropriately qualified external valuers and by the executive directors. Any revaluation surplus or deficit arising is taken to the revaluation reserve except where the deficit is considered to be permanent. Permanent deficits are taken to the profit and loss account. No depreciation or amortisation is provided in respect of freehold or leaseholds of over 50 years held as investment properties. The requirement of the Companies Act 1985 is to depreciate all properties, but that requirement conflicts with the generally accepted accounting principle set out in SSAP 19. The directors believe that, as these properties are not held for consumption but investment, to depreciate them would not give a true and fair view, and that it is necessary to adopt SSAP 19 in order to give a true and fair view. Depreciation is only one of the many factors reflected in the annual valuation, and the amount which might otherwise have been shown cannot be separately identified or quantified.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

and

office

equipment

£

COST

At 1 April 2024

and 31 March 2025

1,500

DEPRECIATION

At 1 April 2024

and 31 March 2025

1,500

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

725,000

NET BOOK VALUE

At 31 March 2025

725,000

At 31 March 2024

725,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2024

194,834

Cost

530,166

725,000

If Investment property had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

530,166

530,166

Aggregate depreciation

(195,059

)

(187,492

)

Investment property was valued on Open Market basis on 31 January 2024 by The Directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Amounts owed by group undertakings

167,586

215,786

Prepayments and accrued income

-

3,256

167,586

219,042

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

48,229

48,229

Tax

10,331

8,037

Social security and other taxes

4,026

5,286

Directors' current accounts

22,123

62,223

Accrued expenses

1,351

1,350

86,060

125,125

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 1-2 years

51,875

51,875

Bank loans - 2-5 years

139,629

169,636

Bank loans more 5 yr by instal

-

17,385

191,504

238,896

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

17,385

9.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

366,492