Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 07604555 Mr P Walsh Mr J Harris iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07604555 2023-05-31 07604555 2024-05-31 07604555 2023-06-01 2024-05-31 07604555 frs-core:CurrentFinancialInstruments 2024-05-31 07604555 frs-core:Non-currentFinancialInstruments 2024-05-31 07604555 frs-core:BetweenOneFiveYears 2024-05-31 07604555 frs-core:FurnitureFittings 2024-05-31 07604555 frs-core:FurnitureFittings 2023-06-01 2024-05-31 07604555 frs-core:FurnitureFittings 2023-05-31 07604555 frs-core:MotorVehicles 2024-05-31 07604555 frs-core:MotorVehicles 2023-06-01 2024-05-31 07604555 frs-core:MotorVehicles 2023-05-31 07604555 frs-core:WithinOneYear 2024-05-31 07604555 frs-core:ShareCapital 2024-05-31 07604555 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 07604555 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07604555 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 07604555 frs-bus:SmallEntities 2023-06-01 2024-05-31 07604555 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07604555 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07604555 frs-bus:Director1 2023-06-01 2024-05-31 07604555 frs-bus:Director2 2023-06-01 2024-05-31 07604555 frs-core:CurrentFinancialInstruments 1 2024-05-31 07604555 frs-countries:EnglandWales 2023-06-01 2024-05-31 07604555 2022-05-31 07604555 2023-05-31 07604555 2022-06-01 2023-05-31 07604555 frs-core:CurrentFinancialInstruments 2023-05-31 07604555 frs-core:Non-currentFinancialInstruments 2023-05-31 07604555 frs-core:BetweenOneFiveYears 2023-05-31 07604555 frs-core:WithinOneYear 2023-05-31 07604555 frs-core:ShareCapital 2023-05-31 07604555 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 07604555 frs-core:CurrentFinancialInstruments 1 2023-05-31
Registered number: 07604555
Freedom Search Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
SJK
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07604555
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 112,642 149,193
112,642 149,193
CURRENT ASSETS
Debtors 5 1,360 1,360
Cash at bank and in hand 208,599 212,883
209,959 214,243
Creditors: Amounts Falling Due Within One Year 6 (169,427 ) (160,597 )
NET CURRENT ASSETS (LIABILITIES) 40,532 53,646
TOTAL ASSETS LESS CURRENT LIABILITIES 153,174 202,839
Creditors: Amounts Falling Due After More Than One Year 7 (55,587 ) (82,839 )
NET ASSETS 97,587 120,000
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account 97,577 119,990
SHAREHOLDERS' FUNDS 97,587 120,000
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 J Harris
Director
05/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Freedom Search Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07604555 . The registered office is Suite 5c, First Floor, Millennium City Office Park, Barnfield Way, Preston, Lancashire, PR2 5DB.
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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was  10 (2023: 13)
10 13
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Page 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 213,590 17,058 230,648
As at 31 May 2024 213,590 17,058 230,648
Depreciation
As at 1 June 2023 71,867 9,588 81,455
Provided during the period 35,431 1,120 36,551
As at 31 May 2024 107,298 10,708 118,006
Net Book Value
As at 31 May 2024 106,292 6,350 112,642
As at 1 June 2023 141,723 7,470 149,193
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,360 1,360
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 27,253 27,253
Trade creditors (2 ) -
Corporation tax 87,720 72,121
VAT 48,729 55,932
Nest pension account 125 1,607
Accruals and deferred income 450 1,056
Directors' loan accounts 5,152 2,628
169,427 160,597
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 55,587 82,839
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Page 5
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 27,253 27,253
Later than one year and not later than five years 55,587 82,839
82,840 110,092
82,840 110,092
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 5