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REGISTERED NUMBER: 11929210 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Freola Holdings Limited

Freola Holdings Limited (Registered number: 11929210)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Freola Holdings Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: R G Marsden





REGISTERED OFFICE: The Old School
Simpson Street
Sunderland
Tyne and Wear
SR4 6DR





REGISTERED NUMBER: 11929210 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Freola Holdings Limited (Registered number: 11929210)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 598,609 598,609
Investment property 5 1,400,000 1,400,000
1,998,609 1,998,609

CURRENT ASSETS
Debtors 6 335,729 54,107
Cash at bank and in hand 33,940 35,015
369,669 89,122
CREDITORS
Amounts falling due within one year 7 201,783 81,580
NET CURRENT ASSETS 167,886 7,542
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,166,495

2,006,151

CREDITORS
Amounts falling due after more than one
year

8

(926,899

)

(947,325

)

PROVISIONS FOR LIABILITIES 10 (9,009 ) -
NET ASSETS 1,230,587 1,058,826

CAPITAL AND RESERVES
Called up share capital 11 107 107
Share premium 36,830 36,830
Retained earnings 1,193,650 1,021,889
SHAREHOLDERS' FUNDS 1,230,587 1,058,826

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Freola Holdings Limited (Registered number: 11929210)

Balance Sheet - continued
30 June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2023 and were signed by:





R G Marsden - Director


Freola Holdings Limited (Registered number: 11929210)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Freola Holdings 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 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.

There were no material departures from the 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group or those concluded at market rate.

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

Income recognition
Turnover from commercial rental income is recognised in line with the lease terms.

Turnover from residential rental income is recognised for the period to which it relates.

Government grants
Capital based grants are credited to the profit and loss account in equal instalments, over the estimated useful life of the related asset.

Revenue based grants are credited to the profit and loss account on receipt.

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

Investment property
Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Freola Holdings Limited (Registered number: 11929210)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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 1 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2022
and 30 June 2023 598,609
NET BOOK VALUE
At 30 June 2023 598,609
At 30 June 2022 598,609

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 1,400,000
Disposals (75,824 )
Revaluations 75,824
At 30 June 2023 1,400,000
NET BOOK VALUE
At 30 June 2023 1,400,000
At 30 June 2022 1,400,000

The director has reviewed the valuation of the investment property at 30 June 2023 and has concluded that the valuation above still reflects market value.

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2022 (28,407 )
Valuation in 2023 75,824
Cost 1,352,583
1,400,000

Freola Holdings Limited (Registered number: 11929210)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,018 -
Amounts owed by group undertakings 21,395 15,149
Other debtors 85,174 500
Directors' current accounts 178,142 38,458
Prepayments and accrued income 30,000 -
335,729 54,107

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 43,744 73,534
Trade creditors 14,597 1,868
Taxation and social security 2,835 -
Other creditors 135,601 -
Accruals and deferred income 5,006 6,178
201,783 81,580

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 46,857 75,131
Bank loans - 2-5 years 163,215 235,324
Bank loans more 5 yr by instal 716,827 635,505
Accruals and deferred income - 1,365
926,899 947,325

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 716,827 635,505

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 970,643 1,019,494

Bank loans are secured by way of a fixed and floating charge over all property present and future.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 9,009 -

Freola Holdings Limited (Registered number: 11929210)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Accelerated capital allowances 9,009
Balance at 30 June 2023 9,009

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,666 Ordinary £0.01 107 107

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
R G Marsden
Balance outstanding at start of year 38,458 -
Amounts advanced 370,578 335,716
Amounts repaid (230,894 ) (297,258 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 178,142 38,458

13. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market condition, except for those shown below:

2023 2022
£ £
Amounts due from directors 178,142 38,458
Amounts due from subsidiary companies 21,395 15,149
Rent received from subsidiary company 58,719 47,011
No interest has been charged.

14. POST BALANCE SHEET EVENTS

On 21 September 2023, Freola Holdings Limited acquired 100% of the share capital in Fitz Architects Limited.