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Company Registration No. 09455817 (England and Wales)
Freet Footwear Ltd Unaudited accounts for the year ended 31 December 2023
Freet Footwear Ltd Unaudited accounts Contents
Page
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Freet Footwear Ltd Company Information for the year ended 31 December 2023
Directors
SJ Jackson AG Jackson
Company Number
09455817 (England and Wales)
Registered Office
16 High Garth Richmond North Yorkshire DL10 4DG
Accountants
Pearson & Associates Suite E, Canal Wharf Eshton Road Gargrave, Skipton North Yorkshire BD23 3SE
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Freet Footwear Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,948 
305 
Current assets
Inventories
347,078 
327,171 
Debtors
40,010 
8,624 
Cash at bank and in hand
393,166 
288,253 
780,254 
624,048 
Creditors: amounts falling due within one year
(178,754)
(127,427)
Net current assets
601,500 
496,621 
Total assets less current liabilities
610,448 
496,926 
Provisions for liabilities
Deferred tax
(834)
(834)
Net assets
609,614 
496,092 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
609,604 
496,082 
Shareholders' funds
609,614 
496,092 
For the 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. 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by
SJ Jackson Director Company Registration No. 09455817
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Freet Footwear Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Freet Footwear Ltd is a private company, limited by shares, registered in England and Wales, registration number 09455817. The registered office is 16 High Garth, Richmond, North Yorkshire, DL10 4DG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% on Cost
Fixtures & fittings
33% on Cost
Computer equipment
33% on Cost
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Freet Footwear Ltd Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
22,666 
2,652 
5,300 
30,618 
Additions
10,563 
2,565 
- 
13,128 
At 31 December 2023
33,229 
5,217 
5,300 
43,746 
Depreciation
At 1 January 2023
22,666 
2,652 
4,995 
30,313 
Charge for the year
3,486 
846 
153 
4,485 
At 31 December 2023
26,152 
3,498 
5,148 
34,798 
Net book value
At 31 December 2023
7,077 
1,719 
152 
8,948 
At 31 December 2022
- 
- 
305 
305 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
40,010 
8,624 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
11,265 
12,555 
Trade creditors
66,142 
26,095 
Taxes and social security
62,939 
64,093 
Proposed dividends
- 
42 
Other creditors
19,962 
2,292 
Loans from directors
4,782 
19,850 
Accruals
13,664 
2,500 
178,754 
127,427 
7
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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