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REGISTERED NUMBER: 03876095 (England and Wales)


























Financial Statements

for the Year Ended 28 February 2018

for

Freethorn Limited

Freethorn Limited (Registered number: 03876095)






Contents of the Financial Statements
for the Year Ended 28 February 2018




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Freethorn Limited

Company Information
for the Year Ended 28 February 2018







DIRECTORS: K Sheikh
Dr S A Akhter





SECRETARY: Dr S A Akhter





REGISTERED OFFICE: Granite Buildings
6 Stanley Street
Liverpool
Merseyside
L1 6AF





REGISTERED NUMBER: 03876095 (England and Wales)





ACCOUNTANTS: Sloan & Co.
Chartered Certified Accountants
Granite Buildings
6 Stanley Street
Liverpool
Merseyside
L1 6AF

Freethorn Limited (Registered number: 03876095)

Abridged Balance Sheet
28 February 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 36,780 55,170
Tangible assets 5 79,072 81,575
115,852 136,745

CURRENT ASSETS
Stocks 69,570 71,261
Debtors 146,991 175,607
Cash at bank and in hand 4,127,683 4,255,998
4,344,244 4,502,866
CREDITORS
Amounts falling due within one year 808,268 987,282
NET CURRENT ASSETS 3,535,976 3,515,584
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,651,828

3,652,329

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,651,728 3,652,229
SHAREHOLDERS' FUNDS 3,651,828 3,652,329

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

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.

Freethorn Limited (Registered number: 03876095)

Abridged Balance Sheet - continued
28 February 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 October 2018 and were signed on its behalf by:





Dr S A Akhter - Director


Freethorn Limited (Registered number: 03876095)

Notes to the Financial Statements
for the Year Ended 28 February 2018

1. STATUTORY INFORMATION

Freethorn Limited is a private company, limited by shares , registered in England and Wales. The 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
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added
tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of two pharmacies is being written off evenly over its
estimated useful life of twenty years.


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving
items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2017 - 15 ) .

Freethorn Limited (Registered number: 03876095)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2018

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2017
and 28 February 2018 367,800
AMORTISATION
At 1 March 2017 312,630
Amortisation for year 18,390
At 28 February 2018 331,020
NET BOOK VALUE

At 28 February 2018 36,780
At 28 February 2017 55,170

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2017
and 28 February 2018 136,103
DEPRECIATION
At 1 March 2017 54,528
Charge for year 2,503
At 28 February 2018 57,031
NET BOOK VALUE
At 28 February 2018 79,072
At 28 February 2017 81,575