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REGISTERED NUMBER: 11989380 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

FREERIDER COLLECTIVE LTD

FREERIDER COLLECTIVE LTD (REGISTERED NUMBER: 11989380)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FREERIDER COLLECTIVE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: F L Christie
S R Williams





REGISTERED OFFICE: Unit 48
Bolney Grange Business Park
Burgess Hill
RH17 5PB





REGISTERED NUMBER: 11989380 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

FREERIDER COLLECTIVE LTD (REGISTERED NUMBER: 11989380)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,878 8,295
Tangible assets 5 4,871 6,027
11,749 14,322

CURRENT ASSETS
Stocks 74,352 195,414
Debtors 6 20,651 34,679
Cash at bank 35,711 59,550
130,714 289,643
CREDITORS
Amounts falling due within one year 7 191,651 284,357
NET CURRENT (LIABILITIES)/ASSETS (60,937 ) 5,286
TOTAL ASSETS LESS CURRENT
LIABILITIES

(49,188

)

19,608

CREDITORS
Amounts falling due after more than one
year

8

(10,355

)

(15,349

)

PROVISIONS FOR LIABILITIES (4,645 ) (5,832 )
NET LIABILITIES (64,188 ) (1,573 )

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 5,990 5,990
Retained earnings (70,278 ) (7,663 )
(64,188 ) (1,573 )

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.

FREERIDER COLLECTIVE LTD (REGISTERED NUMBER: 11989380)

BALANCE SHEET - continued
31 MAY 2023


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 10 January 2024 and were signed on its behalf by:





F L Christie - Director


FREERIDER COLLECTIVE LTD (REGISTERED NUMBER: 11989380)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Freerider Collective 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 in relation to online retail of maternity clothing with the point of recognition being when an order is placed.

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 are being amortised evenly over their 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.

Fixtures & Fittings - 25% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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
Having considered the company's projected performance and expected cashflows, the directors have concluded that the company will be able to meet its liabilities as they fall due and is a going concern. As a result, these financial statements are prepared on a going concern basis.

3. EMPLOYEES

The average number of employees during the year was 3 (2022 - 3 ) .

FREERIDER COLLECTIVE LTD (REGISTERED NUMBER: 11989380)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. INTANGIBLE FIXED ASSETS
Developmen
costs
£   
COST
At 1 June 2022 14,231
Additions 2,710
At 31 May 2023 16,941
AMORTISATION
At 1 June 2022 5,936
Amortisation for year 4,127
At 31 May 2023 10,063
NET BOOK VALUE
At 31 May 2023 6,878
At 31 May 2022 8,295

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2022 8,927
Additions 1,396
At 31 May 2023 10,323
DEPRECIATION
At 1 June 2022 2,900
Charge for year 2,552
At 31 May 2023 5,452
NET BOOK VALUE
At 31 May 2023 4,871
At 31 May 2022 6,027

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,831 9,057
Other debtors 65 60
Prepayments and accrued income 1,755 25,562
20,651 34,679

FREERIDER COLLECTIVE LTD (REGISTERED NUMBER: 11989380)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,000 4,874
Trade creditors 630 1,172
Social security and other taxes 32,838 26,545
Other creditors 122,761 218,743
Directors' current accounts 29,938 31,574
Accruals and deferred income 484 1,449
191,651 284,357

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,355 10,121
Bank loans - 2-5 years - 5,228
10,355 15,349