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REGISTERED NUMBER: 03189258 (England and Wales)















M.A. FREEMAN LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023






M.A. FREEMAN LIMITED (REGISTERED NUMBER: 03189258)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M.A. FREEMAN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: D Feltham





REGISTERED OFFICE: The Exchange
5 Bank Street
Bury
BL9 0DN





REGISTERED NUMBER: 03189258 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
The Exchange
5 Bank Street
Bury
BL9 0DN

M.A. FREEMAN LIMITED (REGISTERED NUMBER: 03189258)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 34,498 36,400
Investment property 5 300,000 350,000
334,498 386,400

CURRENT ASSETS
Debtors 6 17,233 19,213
Cash at bank 434 52
17,667 19,265
CREDITORS
Amounts falling due within one year 7 (221,726 ) (199,676 )
NET CURRENT LIABILITIES (204,059 ) (180,411 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,439

205,989

PROVISIONS FOR LIABILITIES (25,863 ) (29,428 )
NET ASSETS 104,576 176,561

CAPITAL AND RESERVES
Called up share capital 1 1
Other reserves 149,697 196,132
Retained earnings (45,122 ) (19,572 )
SHAREHOLDERS' FUNDS 104,576 176,561

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.

M.A. FREEMAN LIMITED (REGISTERED NUMBER: 03189258)

STATEMENT OF FINANCIAL POSITION - 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 March 2024 and were signed by:





D Feltham - Director


M.A. FREEMAN LIMITED (REGISTERED NUMBER: 03189258)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

M.A. Freeman Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03189258 and its registered office address is The Exchange, 5 Bank Street, Bury, BL9 0DN.

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 as modified by the revaluation of certain assets.

The director has considered the business risks and believe that the company is well placed to manage these risks successfully, thus the going concern basis of accounting has been adopted in preparing these financial statements.

Critical accounting estimates and judgements
In the application of the company's accounting policies, the director is required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Determining the fair value of investment property is considered to be a key judgement.

Revenue
Revenue comprises the aggregate of the fair value of the rental services provided. Revenue is recognised as those services are provided to the occupants of the properties.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings - 2% on cost

Depreciation is not provided in first year of acquisition.

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Investment property
Investment properties are recognised at fair value. Revaluation surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

M.A. FREEMAN LIMITED (REGISTERED NUMBER: 03189258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 ) .

M.A. FREEMAN LIMITED (REGISTERED NUMBER: 03189258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
Buildings etc Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 40,421 10,090 50,511
DEPRECIATION
At 1 July 2022 11,312 2,799 14,111
Charge for year 808 1,094 1,902
At 30 June 2023 12,120 3,893 16,013
NET BOOK VALUE
At 30 June 2023 28,301 6,197 34,498
At 30 June 2022 29,109 7,291 36,400

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 350,000
Revaluations (50,000 )
At 30 June 2023 300,000
NET BOOK VALUE
At 30 June 2023 300,000
At 30 June 2022 350,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2023 175,561
Cost 124,439
300,000

Investment properties were revalued by Michael J Jones & Co in July 2022.

The director valued the properties as at 30 June 2023 at the same carrying value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 17,233 19,213

M.A. FREEMAN LIMITED (REGISTERED NUMBER: 03189258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 7,533 11,953
Other creditors 214,193 187,723
221,726 199,676

8. RELATED PARTY DISCLOSURES

Included within other debtors are amounts totalling £17,233 (2022: £19,213) due from related companies.

Included within trade creditors at the year end are amounts due to related companies totalling £7,533 (2022: £11,953).

Included within other creditors are amounts totalling £214,193 (2022: £187,723) due to related companies and parties.