F.T. Technologies Limited Filleted accounts for Companies House (small and micro)

F.T. TECHNOLOGIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 01603909

F.T. Technologies Limited

Filleted Unaudited Financial Statements

31 December 2018

F.T. Technologies Limited

Balance Sheet

31 December 2018

	2018		2017
Note	£	£	£

Current assets

Debtors	5	3,681,826	2,225,312
Cash at bank and in hand		354,720	2,243,084
		------------	------------
		4,036,546	4,468,396

Creditors: amounts falling due within one year	6	698,299		1,081,981
		------------		------------
Net current assets			3,338,247	3,386,415
			------------	------------
Total assets less current liabilities			3,338,247	3,386,415
			------------	------------
Net assets			3,338,247	3,386,415
			------------	------------

Capital and reserves

Called up share capital	171,000	171,000
Profit and loss account	3,167,247	3,215,415
	------------	------------
Shareholders funds	3,338,247	3,386,415
	------------	------------

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 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 (including profit and loss account) has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 29 March 2019 , and are signed on behalf of the board by:

Dr S Kapartis-Executive Chairman

Director

Company registration number: 01603909

F.T. Technologies Limited

Notes to the Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sunbury House, Brooklands Close, Sunbury-on-Thames, TW16 7DX.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', Companies Act 2006 and FRC Abstracts.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. 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.

Revenue recognition

Turnover is the total amount receivable by the company for goods supplied and services rendered, excluding VAT.

Corporation tax

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.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2017: 3 ).

5. Debtors

	2018	2017
	£	£
Trade debtors	2,892,287	1,782,498
Other debtors	789,539	442,814
	------------	------------
	3,681,826	2,225,312
	------------	------------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	18,744	528,083
Corporation tax	–	63,680
Other creditors	679,555	490,218
	---------	------------
	698,299	1,081,981
	---------	------------

7. Related party transactions

During the year the company had a number of transactions with two companies controlled by the Directors of FT Technologies Ltd. At the 31 December 2018 the company was owed by the first company £644,275 (2017 £122,572), included in other debtors and owed £10,575 (2017 £494,308) included in trade creditors and £0 (2017 £87,787) included in other creditors. At the 31 December 2018 the company owed the second company £0 (2017 £31,681), included in trade creditors and £275,789 (2017 £6,535), included in other creditors.