Company Registration No. 11274733 (England and Wales)
Freestyle Consulting Limited
Unaudited accounts
for the year ended 31 March 2023
Freestyle Consulting Limited
Statement of financial position
as at 31 March 2023
Tangible assets
1,650
2,821
Cash at bank and in hand
62,473
36,477
Creditors: amounts falling due within one year
(10,673)
(8,950)
Net current assets
61,238
38,225
Total assets less current liabilities
62,888
41,046
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
62,038
40,509
Shareholders' funds
62,039
40,510
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 November 2023 and were signed on its behalf by
Owen Grover
Director
Company Registration No. 11274733
Freestyle Consulting Limited
Notes to the Accounts
for the year ended 31 March 2023
Freestyle Consulting Limited is a private company, limited by shares, registered in England and Wales, registration number 11274733. The registered office is 3 Yeomans Close, Thorley, Bishops Stortford, CM23 4EU, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
3 years
Computer equipment
3 years
The accounts are presented in £ sterling.
Income is recognised when the service is performed.
Current tax is recognised on taxable profit for the current and past periods.
Deferred tax is recognised in respect of all timing differences at the reporting date. Losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Current and deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date.
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised in the profit and loss.
Debtors do not carry any interest and are stated at the transaction price. Appropriate allowances are made for irrecoverable amounts when there is objective evidence that the asset is impaired.
Trade creditors do not carry any interest and are stated at transaction price.
Freestyle Consulting Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Trade debtors
8,925
10,625
Accrued income and prepayments
513
73
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
8,330
5,424
Loans from directors
195
32
7
Deferred taxation
2023
2022
Accelerated capital allowances
849
536
Provision at start of year
536
265
Charged to the profit and loss account
313
271
Provision at end of year
849
536
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Freestyle Consulting Limited
Notes to the Accounts
for the year ended 31 March 2023
9
Transactions with related parties
There were no related party transactions other than loans made by Mr Grover to the company and dividends paid to the director.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).