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Registered number: 11676465
Freedom Family Investment Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
LDF Accountancy Services Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11676465
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 378,195 215,381
378,195 215,381
CURRENT ASSETS
Debtors 5 600 786
Cash at bank and in hand 32,586 746
33,186 1,532
Creditors: Amounts Falling Due Within One Year 6 (204,796 ) (142,077 )
NET CURRENT ASSETS (LIABILITIES) (171,610 ) (140,545 )
TOTAL ASSETS LESS CURRENT LIABILITIES 206,585 74,836
Creditors: Amounts Falling Due After More Than One Year 7 (369,457 ) (218,505 )
NET LIABILITIES (162,872 ) (143,669 )
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account (162,882 ) (143,679 )
SHAREHOLDERS' FUNDS (162,872) (143,669)
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Garry Crawford
Director
19th August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Freedom Family Investment Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11676465 . The registered office is 10 Fishbourne Grove, Ingleby Barwick, Stockton-On-Tees, TS17 5LG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No amortisation
Computer Equipment 33% Straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Computer Equipment Total
£ £ £
Cost
As at 1 December 2022 215,371 965 216,336
Additions 162,824 - 162,824
As at 30 November 2023 378,195 965 379,160
Depreciation
As at 1 December 2022 - 955 955
Provided during the period - 10 10
As at 30 November 2023 - 965 965
Net Book Value
As at 30 November 2023 378,195 - 378,195
As at 1 December 2022 215,371 10 215,381
Page 3
Page 4
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 600 786
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,350 10,486
Debentures 80,000 80,000
Other creditors 123,446 51,591
204,796 142,077
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 369,457 218,505
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10 10
Page 4