Future Climate Info Ltd - Period Ending 2021-03-31

Future Climate Info Ltd

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 9

Future Climate Info Ltd

Company Information

Directors

Charlie Maccready Matthew Proud Tom Durbin St. George

Registered office

Courtyard House The Square Lightwater Surrey GU18 5SS

Accountants

SRC-Time Ltd Chartered Accountants and Chartered Tax Advisers 2nd Floor Stanford Gate South Road Brighton East Sussex BN1 6SB

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Future Climate Info Ltd
for the Year Ended 31 March 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Future Climate Info Ltd for the year ended 31 March 2021 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Future Climate Info Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Future Climate Info Ltd and state those matters that we have agreed to state to the Board of Directors of Future Climate Info Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Future Climate Info Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Future Climate Info 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 Future Climate Info Ltd. You consider that Future Climate Info 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 Future Climate Info 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.

......................................

SRC-Time Ltd
Chartered Accountants and Chartered Tax Advisers
2nd Floor
Stanford Gate
South Road
Brighton
East Sussex
BN1 6SB

9 December 2021

Future Climate Info Ltd

(Registration number: 08318444)
Balance Sheet as at 31 March 2021

	Note	2021 £	2020 £
Fixed assets
Intangible assets	4	8,633	9,972
Current assets
Debtors	5	874,882	1,518,413
Cash at bank and in hand		816,799	348,848
		1,691,681	1,867,261
Creditors: Amounts falling due within one year	6	(539,700)	(464,357)
Net current assets		1,151,981	1,402,904
Net assets		1,160,614	1,412,876
Capital and reserves
Called up share capital		9,700	10,000
Capital redemption reserve		300	-
Profit and loss account		1,150,614	1,402,876
Shareholders' funds		1,160,614	1,412,876

Future Climate Info Ltd

(Registration number: 08318444)
Balance Sheet as at 31 March 2021

For the financial year ending 31 March 2021 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and the Director's report have been taken.

Approved and authorised by the Board on 9 December 2021 and signed on its behalf by:
 

.........................................

Tom Durbin St. George
Director

Future Climate Info Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Courtyard House
The Square
Lightwater
Surrey
GU18 5SS
United Kingdom

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of products and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Trademarks and logos	10 years straight line

Future Climate Info Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for products sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2020 - 7).

Future Climate Info Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

4	Intangible assets

	Total £
Cost or valuation
At 1 April 2020	13,390
At 31 March 2021	13,390
Amortisation
At 1 April 2020	3,418
Amortisation charge	1,339
At 31 March 2021	4,757
Carrying amount
At 31 March 2021	8,633
At 31 March 2020	9,972

5

Debtors

	2021 £	2020 £
Trade debtors	658,358	1,168,177
Prepayments	23,131	27,662
Other debtors	193,393	322,574
	874,882	1,518,413

Future Climate Info Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

6

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Trade creditors	17,061	42,101
Taxation and social security	345,572	177,354
Accruals and deferred income	124,826	231,902
Other creditors	52,241	13,000
	539,700	464,357

7	Related party transactions

Future Climate Info Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2021

Summary of transactions with other related parties

During the year, Future Climate Info Limited traded on normal commercial terms with CLS Group Services Limited, a company under common ownership, receiving services worth £297,747 (2020: £678,701). At the balance sheet date, the total amount due to CLS Group Services Limited by Future Climate Info Limited was £2,151 (2020: £70,957).

During the year, Future Climate Info Limited traded on normal commercial terms with CLS Risk Solutions Limited, a company under common ownership, receiving services worth £nil (2020: £24,850). At the balance sheet date, the total amount due to CLS Risk Solutions Limited by Future Climate Info Limited was £nil (2020: £24,850).

During the year, Future Climate Info Limited traded on normal commercial terms with CLS Risk Solutions Malta, a company under common ownership, receiving services worth £10,500 (2020: £13,289). At the balance sheet date, the total amount due to CLS Risk Solutions Malta by Future Climate Info Limited was £875 (2020: £13,289).

During the year, Future Climate Info Limited traded on normal commercial terms with CLS Property Insight Limited, a company under common ownership, providing services worth £2,778,715 (2020: £2,391,910). At the balance sheet date, the total amount due from CLS Property Insight Limited to Future Climate Info Limited was £652,128 (2020: £1,160,538).

During the year, Future Climate Info Limited traded on normal commercial terms with CLS Data Limited, a company under common ownership, receiving services worth £189,986 (2020: £nil). At the balance sheet date, the total amount due to CLS Data Limited from Future Climate Info Limited was £nil (2020: £nil).