IRIS Accounts Production v24.1.9.2 04991066 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh049910662022-12-31049910662023-12-31049910662023-01-012023-12-31049910662021-12-31049910662022-01-012022-12-31049910662022-12-3104991066ns15:EnglandWales2023-01-012023-12-3104991066ns14:PoundSterling2023-01-012023-12-3104991066ns10:Director12023-01-012023-12-3104991066ns10:Director22023-01-012023-12-3104991066ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3104991066ns10:SmallEntities2023-01-012023-12-3104991066ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3104991066ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3104991066ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104991066ns10:FullAccounts2023-01-012023-12-3104991066ns5:CurrentFinancialInstruments2023-12-3104991066ns5:CurrentFinancialInstruments2022-12-3104991066ns5:ShareCapital2023-12-3104991066ns5:ShareCapital2022-12-3104991066ns5:RetainedEarningsAccumulatedLosses2023-12-3104991066ns5:RetainedEarningsAccumulatedLosses2022-12-3104991066ns10:RegisteredOffice2023-01-012023-12-3104991066ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-3104991066ns5:LeaseholdImprovements2023-01-012023-12-3104991066ns5:PlantMachinery2023-01-012023-12-3104991066ns5:FurnitureFittings2023-01-012023-12-3104991066ns5:MotorVehicles2023-01-012023-12-3104991066ns5:LandBuildings2022-12-3104991066ns5:LeaseholdImprovements2022-12-3104991066ns5:PlantMachinery2022-12-3104991066ns5:LandBuildings2023-01-012023-12-3104991066ns5:LandBuildings2023-12-3104991066ns5:LeaseholdImprovements2023-12-3104991066ns5:PlantMachinery2023-12-3104991066ns5:LandBuildings2022-12-3104991066ns5:LeaseholdImprovements2022-12-3104991066ns5:PlantMachinery2022-12-3104991066ns5:FurnitureFittings2022-12-3104991066ns5:MotorVehicles2022-12-3104991066ns5:FurnitureFittings2023-12-3104991066ns5:MotorVehicles2023-12-3104991066ns5:FurnitureFittings2022-12-3104991066ns5:MotorVehicles2022-12-3104991066ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3104991066ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 04991066 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FREEDOM MOTOR CYCLES LTD

FREEDOM MOTOR CYCLES LTD (REGISTERED NUMBER: 04991066)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


FREEDOM MOTOR CYCLES LTD (REGISTERED NUMBER: 04991066)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 158,727 151,237

CURRENT ASSETS
Stocks 680,632 627,906
Debtors 5 22,497 47,244
Cash in hand 1,964 3,274
705,093 678,424
CREDITORS
Amounts falling due within one year 6 260,855 246,348
NET CURRENT ASSETS 444,238 432,076
TOTAL ASSETS LESS CURRENT
LIABILITIES

602,965

583,313

PROVISIONS FOR LIABILITIES 1,546 1,699
NET ASSETS 601,419 581,614

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 601,417 581,612
SHAREHOLDERS' FUNDS 601,419 581,614

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

FREEDOM MOTOR CYCLES LTD (REGISTERED NUMBER: 04991066)

BALANCE SHEET - continued
31 DECEMBER 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 8 August 2024 and were signed on its behalf by:




Mr M Spies - Director



Mr R Spies - Director


FREEDOM MOTOR CYCLES LTD (REGISTERED NUMBER: 04991066)

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


1. STATUTORY INFORMATION

Freedom Motor Cycles Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04991066

Registered office: Mill View
March
Cambridgeshire
PE15 8SY

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 represents the net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Improvements to property - 10% on cost
Plant & equipment - 15% on reducing balance
Office & computer equipment - 20% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

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.

FREEDOM MOTOR CYCLES LTD (REGISTERED NUMBER: 04991066)

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


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant &
property property equipment
£    £    £   
COST
At 1 January 2023 142,295 29,246 59,333
Additions 8,295 - 469
At 31 December 2023 150,590 29,246 59,802
DEPRECIATION
At 1 January 2023 - 29,246 51,741
Charge for year - - 1,181
At 31 December 2023 - 29,246 52,922
NET BOOK VALUE
At 31 December 2023 150,590 - 6,880
At 31 December 2022 142,295 - 7,592

Office &
computer Motor
equipment vehicles Totals
£    £    £   
COST
At 1 January 2023 5,953 23,058 259,885
Additions 325 - 9,089
At 31 December 2023 6,278 23,058 268,974
DEPRECIATION
At 1 January 2023 5,349 22,312 108,648
Charge for year 231 187 1,599
At 31 December 2023 5,580 22,499 110,247
NET BOOK VALUE
At 31 December 2023 698 559 158,727
At 31 December 2022 604 746 151,237

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 320
Other debtors 22,497 46,924
22,497 47,244

FREEDOM MOTOR CYCLES LTD (REGISTERED NUMBER: 04991066)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 141,739 100,327
Trade creditors 78,318 100,496
Taxation and social security 6,296 9,058
Other creditors 34,502 36,467
260,855 246,348

7. TRANSACTIONS WITH DIRECTORS

Included in other creditors falling due within one year is £11,902 (2022 - £1,902) in respect of loans from the directors. These loans are non-interest bearing and have no fixed date for repayment.