Registered number
11296890
Freelance Digital Limited
Unaudited Filleted Accounts
30 April 2023
Freelance Digital Limited
Registered number: 11296890
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,346 11,420
Current assets
Debtors 4 52,955 63,396
Cash at bank and in hand 16,478 7,581
69,433 70,977
Creditors: amounts falling due within one year 5 (20,250) (15,664)
Net current assets 49,183 55,313
Total assets less current liabilities 55,529 66,733
Creditors: amounts falling due after more than one year 6 (1,164) (4,657)
Provisions for liabilities (1,203) (2,169)
Net assets 53,162 59,907
Capital and reserves
Called up share capital 1 1
Profit and loss account 53,161 59,906
Shareholder's funds 53,162 59,907
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Michael Kawczynski
Director
Approved by the board on 20 October 2023
Freelance Digital Limited
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the financial currency of the company and are rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible Fixed Assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery Over 4 years
Motor Vehicles 25% Reducing Balance
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2022 6,172 19,977 26,149
Additions 1,646 - 1,646
At 30 April 2023 7,818 19,977 27,795
Depreciation
At 1 May 2022 3,742 10,987 14,729
Charge for the year 1,726 4,994 6,720
At 30 April 2023 5,468 15,981 21,449
Net book value
At 30 April 2023 2,350 3,996 6,346
At 30 April 2022 2,430 8,990 11,420
4 Debtors 2023 2022
£ £
Trade debtors 14,118 14,394
Other debtors 38,837 49,002
52,955 63,396
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 3,493 3,493
Trade creditors 281 313
Taxation and social security costs 16,476 11,858
20,250 15,664
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 1,164 4,657
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Director
Interest free and repayable on demand 47,501 50,317 (60,465) 37,353
47,501 50,317 (60,465) 37,353
8 Other information
Freelance Digital Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Providence Court
Pynes Hill
Exeter
Devon
EX2 5JL
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