COMPANY REGISTRATION NUMBER:
12400899
|
Atlantic Future Forum Limited |
|
|
Filleted Financial Statements |
|
|
Atlantic Future Forum Limited |
|
|
Statement of Financial Position |
|
31 March 2025
Current assets
|
Debtors |
4 |
308,743 |
283,061 |
|
Cash at bank and in hand |
120,156 |
213,971 |
|
--------- |
--------- |
|
428,899 |
497,032 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
416,108 |
490,357 |
|
--------- |
--------- |
|
Net current assets |
12,791 |
6,675 |
|
-------- |
------- |
|
Total assets less current liabilities |
12,791 |
6,675 |
|
-------- |
------- |
|
Net assets |
12,791 |
6,675 |
|
-------- |
------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
100 |
100 |
|
Profit and loss account |
12,691 |
6,575 |
|
-------- |
------- |
|
Shareholder funds |
12,791 |
6,675 |
|
-------- |
------- |
|
|
|
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.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
23 December 2025
, and are signed on behalf of the board by:
Company registration number:
12400899
|
Atlantic Future Forum Limited |
|
|
Notes to the Financial Statements |
|
Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 114 St Martin's Lane, London, WC2N 4BE, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of 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 profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
4.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Director's loan account |
215,226 |
211,726 |
|
Other debtors |
93,517 |
71,335 |
|
--------- |
--------- |
|
308,743 |
283,061 |
|
--------- |
--------- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
186 |
6,059 |
|
Accruals and deferred income |
413,750 |
413,020 |
|
Corporation tax |
2,172 |
71,278 |
|
--------- |
--------- |
|
416,108 |
490,357 |
|
--------- |
--------- |
|
|
|
6.
Director's remuneration
No remuneration was paid to the director during the period.
7.
Summary audit opinion
The auditor's report dated
23 December 2025
was
unqualified
.
The senior statutory auditor was
Mr Jayantkumar Maganlal Mistry
, for and on behalf of
Asta Accountants Ltd
.
8.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
|
2025 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mr S H W Watson |
211,726 |
3,500 |
215,226 |
|
|
--------- |
------- |
--------- |
|
|
|
|
|
|
2024 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mr S H W Watson |
– |
211,726 |
211,726 |
|
|
---- |
--------- |
--------- |
|
|
|
|
|
9.
Related party transactions
During the period under review, the company utilised Corporate Television Networks Limited, a company controlled by the director and shareholder, to provide necessary working capital, supply chain management and event management services. The total cost of services utilsed during the period was £136,000 (2024: £Nil). At the balance sheet date an amount of £76,000 (2024: £3,659)remained payable to Corporate Television Networks Limited.