Futuris Group Limited - Accounts to registrar (filleted) - small 18.2
Futuris Group Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Period 1 January 2017 to 30 November 2017 |
| for |
| Futuris Group Limited |
| Futuris Group Limited (Registered number: 06003706) |
| Contents of the Financial Statements |
| for the Period 1 January 2017 to 30 November 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Futuris Group Limited |
| Company Information |
| for the Period 1 January 2017 to 30 November 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| 29 Withers Avenue |
| Warrington |
| Cheshire |
| WA2 8EU |
| Futuris Group Limited (Registered number: 06003706) |
| Balance Sheet |
| 30 November 2017 |
| 30.11.17 | 31.12.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | 11 |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| Futuris Group Limited (Registered number: 06003706) |
| Notes to the Financial Statements |
| for the Period 1 January 2017 to 30 November 2017 |
| 1. | STATUTORY INFORMATION |
| Futuris Group Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary |
| amounts in these financial statements are rounded to the nearest £. |
| The principal accounting policies adopted are set out below. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| Significant judgements and estimates |
| In the application of the company's accounting policies, the directors are required to make judgements, |
| estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from |
| other sources. The estimates and associated assumptions are based on historical experience and other factors |
| that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting |
| estimates are recognised in the period in which the estimate is revised where the revision affects only that |
| period, or in the period of the revision and future periods where the revision affects both current and future |
| periods. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Intangible assets |
| Costs incurred in the development of the brand names, trade marks and products of the Group have been |
| capitalised and are being amortised over a period of five years. |
| Costs incurred in respect of the development of the IT systems and software for the "Pick,Pack and Despatch |
| operations have been capitalised and are being amortised over a period of three years. |
| Tangible fixed assets |
| Motor vehicles | - |
| Futuris Group Limited (Registered number: 06003706) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2017 to 30 November 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Cash and cash equivalents |
| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with bank, |
| other short-term liquid investments with original maturities of three months or less, and bank overdrafts. |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 |
| 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
| Financial instruments are recognised in the company's statement of financial position when the company |
| becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when |
| there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net |
| basis or to realise the net asset and settle the liability simultaneously. |
| Basic financial assets |
| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction |
| price including transaction costs and are subsequently carried at amortised costs using the effective interest |
| method unless the arrangement constitutes a financing transaction, where the transaction is measured at the |
| present value of the future receipts discounted at a market rate of interest. Financial assets classified as |
| receivable within one year are not amortised. |
| Other financial assets |
| Other financial assets, including investments in equity instruments which are not subsidiaries, associates or |
| joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are |
| subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that |
| investments in equity instruments that are not publically traded and whose fair values cannot be measured |
| reliably are measured at cost less impairment. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except |
| to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different |
| from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and |
| laws that have been enacted or substantively enacted by the period end and that are expected to apply to the |
| reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Futuris Group Limited (Registered number: 06003706) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2017 to 30 November 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 profit or loss in the period to which they relate. |
| Going concern |
| At the time of approving the financial statements, the directors have a reasonable expectation that the company |
| has adequate resources to continue in operational existence for the foreseeable future. Thus the directors |
| continue to adopt the going concern basis of accounting in preparing the financial statements. |
| Provisions |
| A provision is recognised in the balance sheet when the company has a constructive or legal obligation as a |
| result of a past event and it is probable that an outflow of economic benefit will be required to settle the |
| obligation. Provisions are recognised at their discounted net present value. |
| Employee benefits |
| The costs of the short-term employee benefits are recognised as a liability and an expense, unless those costs |
| are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday |
| entitlement is recognised in the period in which the employee's services are received. Termination benefits are |
| recognised immediately as an expense when the company is demonstrably committed to terminate the |
| employment of an employee or to provide termination benefits. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL (2016 - 2 ). |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 January 2017 |
| Additions |
| At 30 November 2017 |
| AMORTISATION |
| At 1 January 2017 |
| Charge for period |
| At 30 November 2017 |
| NET BOOK VALUE |
| At 30 November 2017 |
| At 31 December 2016 |
| Futuris Group Limited (Registered number: 06003706) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2017 to 30 November 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 January 2017 |
| Disposals | ( |
) |
| At 30 November 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for period |
| Eliminated on disposal | ( |
) |
| At 30 November 2017 |
| NET BOOK VALUE |
| At 30 November 2017 |
| At 31 December 2016 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2017 |
| and 30 November 2017 |
| NET BOOK VALUE |
| At 30 November 2017 |
| At 31 December 2016 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: England & Wales |
| Nature of business: |
| % |
| Class of shares: | holding |
| 30.11.17 | 31.12.16 |
| £ | £ |
| Aggregate capital and reserves | ( |
) |
| (Loss)/profit for the period/year | ( |
) |
| Futuris Group Limited (Registered number: 06003706) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2017 to 30 November 2017 |
| 6. | FIXED ASSET INVESTMENTS - continued |
| Registered office: England & Wales |
| Nature of business: |
| % |
| Class of shares: | holding |
| 30.11.17 | 31.12.16 |
| £ | £ |
| Aggregate capital and reserves | ( |
) | ( |
) |
| Registered office: England & Wales |
| Nature of business: |
| % |
| Class of shares: | holding |
| 30.11.17 | 31.12.16 |
| £ | £ |
| Aggregate capital and reserves |
| Registered office: England & Wales |
| Nature of business: |
| % |
| Class of shares: | holding |
| 30.11.17 | 31.12.16 |
| £ | £ |
| Loss for the period/year | ( |
) |
| Registered office: England & Wales |
| Nature of business: |
| % |
| Class of shares: | holding |
| 30.11.17 | 31.12.16 |
| £ | £ |
| Aggregate capital and reserves |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.17 | 31.12.16 |
| £ | £ |
| Amounts owed by group undertakings |
| Deferred tax asset |
| Tax losses carried forward |
| Futuris Group Limited (Registered number: 06003706) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2017 to 30 November 2017 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.17 | 31.12.16 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Amounts owed to group undertakings |
| Social security and other taxes |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.11.17 | 31.12.16 |
| £ | £ |
| Hire purchase contracts |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.11.17 | 31.12.16 |
| value: | £ | £ |
| 'A' Ordinary | £1 | 109,504 | 109,504 |
| 'B' Ordinary | 10p | 130,466 | 130,466 |
| 'C' Ordinary | 5p | 80,000 | 80,000 |
| 319,970 | 319,970 |
| 11. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2017 |
| Profit for the period |
| Dividends | ( |
) |
| At 30 November 2017 |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |