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REGISTERED NUMBER: 10979623 (England and Wales)















FREEAGENT247.COM LTD

Unaudited Financial Statements for the Year Ended 31 May 2023






FREEAGENT247.COM LTD (REGISTERED NUMBER: 10979623)






Contents of the Financial Statements
for the year ended 31 May 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


FREEAGENT247.COM LTD

Company Information
for the year ended 31 May 2023







Directors: G Smith
D C Lewis





Registered office: First Floor
Saggar House
Princes Drive
Worcester
WR1 2PG





Registered number: 10979623 (England and Wales)





Accountants: Haines Watts South East LLP
5 - 6 Greenfield Crescent
Edgbaston
Birmingham
B15 3BE

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
FreeAgent247.com Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of FreeAgent247.com Ltd for the year ended 31 May 2023 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of FreeAgent247.com Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of FreeAgent247.com Ltd and state those matters that we have agreed to state to the Board of Directors of FreeAgent247.com Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FreeAgent247.com Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that FreeAgent247.com Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of FreeAgent247.com Ltd. You consider that FreeAgent247.com 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 financial statements of FreeAgent247.com 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 financial statements.






Haines Watts South East LLP
5 - 6 Greenfield Crescent
Edgbaston
Birmingham
B15 3BE


18 August 2023

FREEAGENT247.COM LTD (REGISTERED NUMBER: 10979623)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 1,652 320
Investments 6 - 30
1,652 350

Current assets
Debtors 7 19,582 17,645
Cash at bank 495,673 474,604
515,255 492,249
Creditors
Amounts falling due within one year 8 194,779 183,458
Net current assets 320,476 308,791
Total assets less current liabilities 322,128 309,141

Capital and reserves
Called up share capital 2,000 2,000
Retained earnings 320,128 307,141
Shareholders' funds 322,128 309,141

FREEAGENT247.COM LTD (REGISTERED NUMBER: 10979623)

Balance Sheet - continued
31 May 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 18 August 2023 and were signed on its behalf by:




D C Lewis - Director



G Smith - Director


FREEAGENT247.COM LTD (REGISTERED NUMBER: 10979623)

Notes to the Financial Statements
for the year ended 31 May 2023

1. Statutory information

FreeAgent247.com Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year 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 year 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.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

FREEAGENT247.COM LTD (REGISTERED NUMBER: 10979623)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

4. Intangible fixed assets
Computer
software
£   
Cost
At 1 June 2022
and 31 May 2023 3,072
Amortisation
At 1 June 2022
and 31 May 2023 3,072
Net book value
At 31 May 2023 -
At 31 May 2022 -

5. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1 June 2022 200 449 649
Additions - 2,298 2,298
At 31 May 2023 200 2,747 2,947
Depreciation
At 1 June 2022 67 262 329
Charge for year 50 916 966
At 31 May 2023 117 1,178 1,295
Net book value
At 31 May 2023 83 1,569 1,652
At 31 May 2022 133 187 320

6. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 June 2022 30
Disposals (30 )
At 31 May 2023 -
Net book value
At 31 May 2023 -
At 31 May 2022 30

FREEAGENT247.COM LTD (REGISTERED NUMBER: 10979623)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 17,308 14,263
Amounts owed by group undertakings - 1,187
Prepayments 2,274 2,195
19,582 17,645

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 8,584 18,136
Tax 26,972 40,237
Social security and other taxes 172 218
VAT 12,220 12,374
Directors' current accounts 145,469 111,111
Accrued expenses 1,362 1,382
194,779 183,458