Company Registration No. 4806568 (England and Wales)
FutureProspects Ltd
Unaudited accounts
for the year ended 30 September 2022
FutureProspects Ltd
Unaudited accounts
Contents
FutureProspects Ltd
Company Information
for the year ended 30 September 2022
Company Number
4806568 (England and Wales)
Registered Office
48 MELVIN WAY
HISTON
CAMBRIDGE
CB24 9HY
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
FutureProspects Ltd
Accountants' report
Accountants' report to the director of FutureProspects Ltd on the preparation of the unaudited statutory accounts for the year ended 30 September 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
FutureProspects Ltd for the year ended
30 September 2022 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of FutureProspects Ltd , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of FutureProspects Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FutureProspects Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that FutureProspects Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of FutureProspects Ltd . You consider that FutureProspects Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of FutureProspects Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
21 March 2023
FutureProspects Ltd
Statement of financial position
as at 30 September 2022
Cash at bank and in hand
17,665
32,343
Creditors: amounts falling due within one year
(77,044)
(69,827)
Net current assets
5,379
3,897
Total assets less current liabilities
6,092
5,325
Creditors: amounts falling due after more than one year
(6,300)
(7,000)
Net liabilities
(208)
(1,675)
Called up share capital
1
1
Profit and loss account
(209)
(1,676)
Shareholders' funds
(208)
(1,675)
For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 April 2023 and were signed on its behalf by
Diana Barden
Director
Company Registration No. 4806568
FutureProspects Ltd
Notes to the Accounts
for the year ended 30 September 2022
FutureProspects Ltd is a private company, limited by shares, registered in England and Wales, registration number 4806568. The registered office is 48 MELVIN WAY, HISTON, CAMBRIDGE, CB24 9HY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% on cost
Computer equipment
33% on cost
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 October 2021
9,386
13,731
23,117
At 30 September 2022
9,386
13,731
23,117
At 1 October 2021
8,258
13,431
21,689
Charge for the year
564
151
715
At 30 September 2022
8,822
13,582
22,404
At 30 September 2022
564
149
713
At 30 September 2021
1,128
300
1,428
Amounts falling due within one year
Trade debtors
59,590
35,701
FutureProspects Ltd
Notes to the Accounts
for the year ended 30 September 2022
6
Creditors: amounts falling due within one year
2022
2021
Loans from directors
77,044
68,957
7
Creditors: amounts falling due after more than one year
2022
2021
The company received a Bounce Back Loan of £7,000, which is a 100% UK Government backed loan.
Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government.
After the first 12 months, an interest rate of 2.5% is applicable.
The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
8
Transactions with related parties
Included in debtors is a loan of £4,000 to El Nido Properties Limited, a related company. The loan is interest-free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 0 (2021: 0).