REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2023 |
for |
FREEDOM WORKS LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2023 |
for |
FREEDOM WORKS LTD |
FREEDOM WORKS LTD (REGISTERED NUMBER: 10118525) |
Contents of the Financial Statements |
for the Year Ended 30 April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
FREEDOM WORKS LTD |
Company Information |
for the Year Ended 30 April 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Church Street |
Brighton |
East Sussex |
BN1 1UJ |
FREEDOM WORKS LTD (REGISTERED NUMBER: 10118525) |
Balance Sheet |
30 April 2023 |
2023 | 2022 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) |
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. |
FREEDOM WORKS LTD (REGISTERED NUMBER: 10118525) |
Balance Sheet - continued |
30 April 2023 |
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 |
FREEDOM WORKS LTD (REGISTERED NUMBER: 10118525) |
Notes to the Financial Statements |
for the Year Ended 30 April 2023 |
1. | STATUTORY INFORMATION |
Freedom Works Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
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. |
Tangible fixed assets |
Long leasehold | - |
Fixtures and fittings | - |
Computer equipment | - |
Government grants |
Government grants are recognised in the profit and loss account based on the performance model. |
Grants that do not impose specified future performance-related conditions on the recipient are recognised in income when the grant proceeds are received or receivable. |
Grants that impose specified future performance-related conditions on the recipient are recognised in income only when the performance-related conditions are met. |
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 balance sheet date. |
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. |
FREEDOM WORKS LTD (REGISTERED NUMBER: 10118525) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2022 |
and 30 April 2023 |
AMORTISATION |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2022 |
Additions |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
FREEDOM WORKS LTD (REGISTERED NUMBER: 10118525) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Trade debtors |
Amounts owed by participating interests | - | 17,099 |
Other debtors |
Directors' loan accounts | - | 5,268 |
VAT |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Social security and other taxes |
VAT | 7,440 | - |
Other creditors |
Pension creditor | 1,598 | 981 |
Directors' loan accounts | 9,732 | - |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Trade creditors |
Other creditors |
Accruals and deferred income |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 12,958 | - |
9. | RELATED PARTY DISCLOSURES |
During the year, the company incurred rents totalling £120,000 (2022: £120,000) with Building Futures Holdings Ltd, a company under the common control of Mr J Trigg. |
FREEDOM WORKS LTD (REGISTERED NUMBER: 10118525) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |