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REGISTERED NUMBER: 01205736 (England and Wales)















ABRIDGED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FREEMAN, VOLKERS & STUART LIMITED

FREEMAN, VOLKERS & STUART LIMITED (REGISTERED NUMBER: 01205736)

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










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


FREEMAN, VOLKERS & STUART LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs A Preston MBE
Mr J R Godwin
Mr J D Preston


SECRETARY: Mrs A Preston MBE


REGISTERED OFFICE: Church Road
Stockton on Tees
TS18 2LY


REGISTERED NUMBER: 01205736 (England and Wales)


SENIOR STATUTORY AUDITOR: Anne Cowley BA FCA


AUDITORS: Baines Jewitt Limited
Statutory Auditors
Spitfire House
19 Falcon Court
Preston Farm Industrial Estate
Stockton-on-Tees
TS18 3TU


BANKERS: HSBC
PO Box 117
60 Albert Road
Middlesbrough
TS1 1RS

FREEMAN, VOLKERS & STUART LIMITED (REGISTERED NUMBER: 01205736)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 18,422 23,032

CURRENT ASSETS
Debtors 761,753 755,075
Cash at bank and in hand 8,346 9,680
770,099 764,755
CREDITORS
Amounts falling due within one year 48,569 39,515
NET CURRENT ASSETS 721,530 725,240
TOTAL ASSETS LESS CURRENT
LIABILITIES

739,952

748,272

PROVISIONS FOR LIABILITIES - 1,640
NET ASSETS 739,952 746,632

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 739,950 746,630
SHAREHOLDERS' FUNDS 739,952 746,632

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





Mrs A Preston MBE - Director


FREEMAN, VOLKERS & STUART LIMITED (REGISTERED NUMBER: 01205736)

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


1. STATUTORY INFORMATION

Freeman, Volkers & Stuart Limited 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is the amount derived from transport services excluding value added tax, trade discounts and other sales taxes. Revenue is recognised on the date that the service is provided.

Tangible fixed assets
Depreciation is provided to write down the cost of all tangible fixed assets over their expected useful lives. The rates applicable are as follows:

Plant & machinery15% on the reducing balance

Motor vehiclesLorries

17.5% of the cost for the first four years,
the remaining balance at the end of the
fourth year at 20% on the reducing balance

Trailers

12.5% of the cost for the first five years,
the remaining balance at the end of the
fifth year at 20% on the reducing balance.

Other motor vehicles

25% on the reducing balance.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


FREEMAN, VOLKERS & STUART LIMITED (REGISTERED NUMBER: 01205736)

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


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1 January 2023
and 31 December 2023 667,587
DEPRECIATION
At 1 January 2023 644,555
Charge for year 4,610
At 31 December 2023 649,165
NET BOOK VALUE
At 31 December 2023 18,422
At 31 December 2022 23,032


5. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Anne Cowley BA FCA (Senior Statutory Auditor)
for and on behalf of Baines Jewitt Limited

FREEMAN, VOLKERS & STUART LIMITED (REGISTERED NUMBER: 01205736)

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


6. CONTINGENT LIABILITIES

There is a cross guarantee and debenture between the company and its parent company, Richard Preston and Son Limited. That company has a secured bank overdraft of £nil at 31 December 2023.

7. ULTIMATE PARENT COMPANY

The company's immediate parent company is Richard Preston & Son Limited which is incorporated in England and Wales.


The ultimate parent company, which draws up the financial statements for the group, is Potto Group Limited, a company incorporated in England and Wales. The consolidated financial statements can be obtained from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.

8. PENSION COMMITMENTS

Amounts payable in relation to pension contributions as at 31 December 2023 amounted to £429 (2022: £217).