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Registered number: 03126601
Futuristic Services Limited
Financial Statements
For The Year Ended 31 March 2025
Olive Pine Accountancy Ltd
MAAT
13 Napier House Elva Way
Bexhill On Sea
East Sussex
TN39 5BF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03126601
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,638 36,159
Investments 5 373,763 416,316
403,401 452,475
CURRENT ASSETS
Debtors 6 171,478 168,970
Cash at bank and in hand 215,742 160,998
387,220 329,968
Creditors: Amounts Falling Due Within One Year 7 (136,746 ) (181,257 )
NET CURRENT ASSETS (LIABILITIES) 250,474 148,711
TOTAL ASSETS LESS CURRENT LIABILITIES 653,875 601,186
Creditors: Amounts Falling Due After More Than One Year 8 - (10,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,183 ) (13,183 )
NET ASSETS 640,692 578,003
CAPITAL AND RESERVES
Called up share capital 9 125 125
Revaluation reserve 10 (160,343 ) (160,343 )
Profit and Loss Account 800,910 738,221
SHAREHOLDERS' FUNDS 640,692 578,003
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael O'Rourke
Director
17/11/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Futuristic Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03126601 . The registered office is 13 Napier House, Elva Way, Bexhill on Sea, East Sussex, TN39 5BF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold No Depreciation
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 33.33% Straight Line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
1Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 10,074 12,528 350,636 12,025 385,263
As at 31 March 2025 10,074 12,528 350,636 12,025 385,263
Depreciation
As at 1 April 2024 - 10,355 326,724 12,025 349,104
Provided during the period - 543 5,978 - 6,521
As at 31 March 2025 - 10,898 332,702 12,025 355,625
Net Book Value
As at 31 March 2025 10,074 1,630 17,934 - 29,638
As at 1 April 2024 10,074 2,173 23,912 - 36,159
5. Investments
Unlisted
£
Cost or Valuation
As at 1 April 2024 416,316
Additions 36,544
Disposals (114,250 )
Revaluations 35,153
As at 31 March 2025 373,763
Provision
As at 1 April 2024 -
As at 31 March 2025 -
Net Book Value
As at 31 March 2025 373,763
As at 1 April 2024 416,316
6. Debtors
2025 2024
£ £
Due within one year
Other debtors 2,750 18,047
Corporation tax recoverable assets 10,732 10,732
Amounts owed by associates 157,996 140,191
171,478 168,970
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors (1 ) (1 )
Bank loans and overdrafts 9,430 9,000
Corporation tax 10,475 18,594
Other taxes and social security 159 128
VAT 4,433 9,689
Other creditors 81 3,416
Accruals and deferred income 41,054 44,331
Director's loan account 71,115 96,100
136,746 181,257
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 10,000
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 125 125
10. Reserves
Revaluation reserve Profit and Loss Account
£ £
As at 1 April 2024 (160,343 ) 738,221
Profit for the year and total comprehensive income - 27,535
Transfer from revaluation reserve - 35,154
As at 31 March 2025 (160,343 ) 800,910
Page 5