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REGISTERED NUMBER: 10118525 (England and Wales)












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: J Trigg





REGISTERED OFFICE: The Mill Building
31 Chatsworth Road
Worthing
West Sussex
BN11 1LY





REGISTERED NUMBER: 10118525 (England and Wales)





ACCOUNTANTS: Paddenburg & Co Limited
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 49,500 67,500
Tangible assets 5 997,560 678,345
1,047,060 745,845

CURRENT ASSETS
Debtors 6 322,195 234,338
Cash at bank 21,952 40,082
344,147 274,420
CREDITORS
Amounts falling due within one year 7 823,185 670,682
NET CURRENT LIABILITIES (479,038 ) (396,262 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

568,022

349,583

CREDITORS
Amounts falling due after more than one
year

8

489,091

163,751
NET ASSETS 78,931 185,832

CAPITAL AND RESERVES
Called up share capital 19 19
Share premium 105,000 105,000
Retained earnings (26,088 ) 80,813
78,931 185,832

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

FREEDOM WORKS LTD (REGISTERED NUMBER: 10118525)

Balance Sheet - continued
30 April 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 10 April 2024 and were signed by:





J Trigg - Director


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 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.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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 17 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 90,000
AMORTISATION
At 1 May 2022 22,500
Charge for year 18,000
At 30 April 2023 40,500
NET BOOK VALUE
At 30 April 2023 49,500
At 30 April 2022 67,500

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 May 2022 800,420 89,272 10,600 900,292
Additions 429,419 20,114 618 450,151
At 30 April 2023 1,229,839 109,386 11,218 1,350,443
DEPRECIATION
At 1 May 2022 175,484 41,480 4,983 221,947
Charge for year 107,526 20,288 3,122 130,936
At 30 April 2023 283,010 61,768 8,105 352,883
NET BOOK VALUE
At 30 April 2023 946,829 47,618 3,113 997,560
At 30 April 2022 624,936 47,792 5,617 678,345

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 96,729 36,554
Amounts owed by participating interests - 17,099
Other debtors 50,984 57,475
Directors' loan accounts - 5,268
VAT - 4,918
Prepayments 174,482 113,024
322,195 234,338

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 137,284 75,315
Trade creditors 437,943 489,951
Social security and other taxes 90,603 67,133
VAT 7,440 -
Other creditors 20,252 33,772
Pension creditor 1,598 981
Directors' loan accounts 9,732 -
Accruals and deferred income 118,333 3,530
823,185 670,682

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
as restated
£    £   
Bank loans - 1-2 years 150,777 -
Bank loans - 2-5 years 125,069 39,431
Bank loans more 5 yr by instal 12,958 -
Trade creditors 61,000 -
Other creditors 94,287 124,320
Accruals and deferred income 45,000 -
489,091 163,751

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 J Trigg.