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Registration number: 07527407

All For Freedom Ltd

Annual Report and Financial Statements

for the Year Ended 31 December 2023

 

All For Freedom Ltd

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

All For Freedom Ltd

Company Information
__________________________________________________________________________

Director

Miss S Aligholi Mayelzadeh

Registered office

7 Bell Yard
London
WC2A 2JR


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

All For Freedom Ltd

(Registration number: 07527407)
Balance Sheet as at 31 December 2023
__________________________________________________________________________

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

3

 

6,851

 

9,133

Current assets

   

 

Debtors

4

582,799

 

1,459,117

 

Cash at bank and in hand

 

150,838

 

71,789

 

 

733,637

 

1,530,906

 

Creditors: Amounts falling due within one year

5

(410,005)

 

(1,161,885)

 

Net current assets

   

323,632

 

369,021

Total assets less current liabilities

   

330,483

 

378,154

Creditors: Amounts falling due after more than one year

5

 

(152,297)

 

(200,000)

Net assets

   

178,186

 

178,154

Reserves

   

 

Retained earnings

178,186

 

178,154

 

Surplus

   

178,186

 

178,154

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 20 July 2024
 

Miss S Aligholi Mayelzadeh

Director

 

All For Freedom Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A'The Financial Reporting Standard applicable to the Small Entities'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

All For Freedom Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

All For Freedom Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 4).

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

19,704

19,704

At 31 December 2023

19,704

19,704

Depreciation

At 1 January 2023

10,569

10,569

Charge for the year

2,284

2,284

At 31 December 2023

12,853

12,853

Carrying amount

At 31 December 2023

6,851

6,851

At 31 December 2022

9,133

9,133

4

Debtors

Current

2023
£

2022
£

Corporation tax recoverable

-

437

Other debtors

582,799

1,458,680

 

582,799

1,459,117

 

All For Freedom Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Director's current account

103,995

85,966

Taxation and social security

 

42,339

53,578

Other creditors

 

258,421

1,018,591

Accruals

 

5,250

3,750

 

410,005

1,161,885

Due after one year

 

Loans and borrowings

152,297

200,000