| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| FUTURE POWER TEAM LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| FUTURE POWER TEAM LIMITED |
| FUTURE POWER TEAM LIMITED (REGISTERED NUMBER: 12140129) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| FUTURE POWER TEAM LIMITED |
| COMPANY INFORMATION |
| For The Year Ended 31 August 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 3 Park Square East |
| Leeds |
| LS1 2NE |
| FUTURE POWER TEAM LIMITED (REGISTERED NUMBER: 12140129) |
| BALANCE SHEET |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| FUTURE POWER TEAM LIMITED (REGISTERED NUMBER: 12140129) |
| BALANCE SHEET - continued |
| 31 August 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| FUTURE POWER TEAM LIMITED (REGISTERED NUMBER: 12140129) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| Future Power Team Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover and revenue recognition |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover represents revenue recognised in the accounts. Revenue comprises the fair value of the consideration received or receivable, net of value added tax. |
| Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is measured by surveys of work performed to date. Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| FUTURE POWER TEAM LIMITED (REGISTERED NUMBER: 12140129) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 August 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 5. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| S455 tax recoverable | 25,629 | 25,629 |
| Directors' current accounts | 91,346 | 76,048 |
| VAT |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loan |
| Hire purchase contracts |
| Trade creditors | ( |
) |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | - | 111 |
| Accruals and deferred income |
| FUTURE POWER TEAM LIMITED (REGISTERED NUMBER: 12140129) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 August 2024 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts |
| Bank loan | 3,476 | 9,820 |
| The bank loan represents a loan under HM Government Coronavirus Bounce Back Loan Scheme. The loan carries interest at a rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme. |
| 9. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 31,514 | 36,283 |
| Deferred |
| tax |
| £ |
| Balance at 1 September 2023 |
| Provided during year | ( |
) |
| Balance at 31 August 2024 |