Future Technology Services Limited - Abbreviated accounts 16.1
Future Technology Services Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts For The Year Ended 31st May 2016 |
| for |
| Future Technology Services Limited |
| Future Technology Services Limited (Registered number: 03812979) |
| Contents of the Abbreviated Accounts |
| For The Year Ended 31st May 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Future Technology Services Limited |
| Company Information |
| For The Year Ended 31st May 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Future Technology Services Limited (Registered number: 03812979) |
| Abbreviated Balance Sheet |
| 31st May 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Capital redemption reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Future Technology Services Limited (Registered number: 03812979) |
| Abbreviated Balance Sheet - continued |
| 31st May 2016 |
| The financial statements were approved by the Board of Directors on its behalf by: |
| Future Technology Services Limited (Registered number: 03812979) |
| Notes to the Abbreviated Accounts |
| For The Year Ended 31st May 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with |
| the Financial Reporting Standard for Smaller Entities (effective January 2015). |
| Turnover |
| Turnover represents the value of services provided under contracts to the extent that there is a right to |
| consideration and is recorded at the value of the consideration due. Where a contract has only been |
| partially completed at the balance sheet date, turnover represents the value of the service provided to date |
| based on a proportion of the total expected consideration at completion. Where payments are received |
| from customers in advance of services provided, the amounts are recorded as deferred income and |
| included as part of creditors due within one year. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due |
| allowance for obsolete and slow moving items. |
| Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
| held under hire purchase contracts are depreciated over their estimated useful lives. Those held under |
| finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. |
| The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over |
| the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's |
| pension scheme are charged to the profit and loss account in the period to which they relate. |
| Future Technology Services Limited (Registered number: 03812979) |
| Notes to the Abbreviated Accounts - continued |
| For The Year Ended 31st May 2016 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1st June 2015 |
| Additions |
| Disposals | ( |
) |
| At 31st May 2016 |
| DEPRECIATION |
| At 1st June 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31st May 2016 |
| NET BOOK VALUE |
| At 31st May 2016 |
| At 31st May 2015 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| A Shares | £1 |
| B Shares | £1 |
| 28 | 28 |
| The A and B Ordinary shares have no rights attached to them beyond the right to receive a dividend when |
| so declared. |
| Future Technology Services Limited (Registered number: 03812979) |
| Notes to the Abbreviated Accounts - continued |
| For The Year Ended 31st May 2016 |
| 5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31st May 2016 and |
| 31st May 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| The loans to the directors were unsecured and repayable on demand. Interest is payable at the HMRC rate |
| applicable to beneficial loan arrangements. |