Company Registration No. 4806568 (England and Wales)
FutureProspects Ltd
Unaudited accounts
for the year ended 30 September 2021
FutureProspects Ltd
Unaudited accounts
Contents
FutureProspects Ltd
Company Information
for the year ended 30 September 2021
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 2021
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 2021 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 loss 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
28 February 2022
FutureProspects Ltd
Statement of financial position
as at
30 September 2021
Tangible assets
1,428
2,143
Cash at bank and in hand
32,343
23,809
Creditors: amounts falling due within one year
(69,827)
(57,028)
Net current assets
3,897
4,074
Total assets less current liabilities
5,325
6,217
Creditors: amounts falling due after more than one year
(7,000)
-
Net (liabilities)/assets
(1,675)
6,217
Called up share capital
1
1
Profit and loss account
(1,676)
6,216
Shareholders' funds
(1,675)
6,217
For the year ending 30 September 2021 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 4 March 2022 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 2021
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.
These financial statements for the year ended 30 September 2021 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2019.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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 2020
9,386
13,731
23,117
At 30 September 2021
9,386
13,731
23,117
At 1 October 2020
7,694
13,280
20,974
Charge for the year
564
151
715
At 30 September 2021
8,258
13,431
21,689
At 30 September 2021
1,128
300
1,428
At 30 September 2020
1,692
451
2,143
FutureProspects Ltd
Notes to the Accounts
for the year ended 30 September 2021
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
35,701
37,143
6
Creditors: amounts falling due within one year
2021
2020
Taxes and social security
-
2,300
Loans from directors
68,957
53,948
7
Creditors: amounts falling due after more than one year
2021
2020
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.
During this accounting period, grant income of £88 was received to cover the interest due of £88 on this loan.
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 (2020: 0).