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REGISTERED NUMBER: 09474055 (England and Wales)







Financial Statements for the Year Ended 31 December 2023

for

Freedome UK Site 1 Limited

Freedome UK Site 1 Limited (Registered number: 09474055)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Freedome UK Site 1 Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: T I McClure
D E Melhus
P I Haagaas



REGISTERED OFFICE: Unit 5 Britannia Road
Patchway
Bristol
BS34 5TA



REGISTERED NUMBER: 09474055 (England and Wales)



SENIOR STATUTORY AUDITOR: Matthew Dobbins FCA



AUDITORS: Dunkley's
Statutory Auditor
Chartered Accountants
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Freedome UK Site 1 Limited (Registered number: 09474055)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 2,321 -
Tangible assets 5 763,607 863,931
765,928 863,931

CURRENT ASSETS
Stocks 38,581 19,522
Debtors 6 858,878 727,116
Cash at bank and in hand 31,985 98,042
929,444 844,680
CREDITORS
Amounts falling due within one year 7 (3,140,480 ) (3,081,950 )
NET CURRENT LIABILITIES (2,211,036 ) (2,237,270 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,445,108 ) (1,373,339 )

CREDITORS
Amounts falling due after more than one year 8 - (23,296 )

PROVISIONS FOR LIABILITIES - (10,112 )
NET LIABILITIES (1,445,108 ) (1,406,747 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (1,445,208 ) (1,406,847 )
SHAREHOLDERS' FUNDS (1,445,108 ) (1,406,747 )

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





T I McClure - Director


Freedome UK Site 1 Limited (Registered number: 09474055)

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

1. STATUTORY INFORMATION

Freedome UK Site 1 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Computer software has been fully amortised in the current year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 15 years
Plant and machinery - Straight line over 3 - 7 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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.

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 31 (2022 - 26 ) .

Freedome UK Site 1 Limited (Registered number: 09474055)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 2,785
At 31 December 2023 2,785
AMORTISATION
Charge for year 464
At 31 December 2023 464
NET BOOK VALUE
At 31 December 2023 2,321

5. TANGIBLE FIXED ASSETS
Short Plant and Computer
leasehold machinery equipment Totals
£    £    £    £   
COST
At 1 January 2023 1,276,302 599,630 - 1,875,932
Additions - 48,709 4,100 52,809
At 31 December 2023 1,276,302 648,339 4,100 1,928,741
DEPRECIATION
At 1 January 2023 545,059 466,942 - 1,012,001
Charge for year 83,297 69,144 692 153,133
At 31 December 2023 628,356 536,086 692 1,165,134
NET BOOK VALUE
At 31 December 2023 647,946 112,253 3,408 763,607
At 31 December 2022 731,243 132,688 - 863,931

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 661,083 655,251
Other debtors 109,104 71,865
Prepayments 88,691 -
858,878 727,116

Freedome UK Site 1 Limited (Registered number: 09474055)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 23,540 9,984
Trade creditors 93,973 16,769
Amounts owed to group undertakings 2,980,101 2,830,101
Social security and other taxes 2,629 38,227
VAT 12,661 3,429
Other creditors 11,141 2,575
Accruals and deferred income 14,412 180,865
Accrued expenses 2,023 -
3,140,480 3,081,950

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Other loans - 1-2 years - 23,296

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 200,485 200,485
Between one and five years 723,090 828,288
In more than five years 844,965 945,129
1,768,540 1,973,902

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

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

The Report of the Auditors was unqualified.

Matthew Dobbins FCA (Senior Statutory Auditor)
for and on behalf of Dunkley's

12. PENSION COMMITMENTS

During the year, the company operated a defined contribution pension scheme through an external provider.

Employer contributions to the scheme for the year totalled £5,013 (2022 - £36,228).

Accrued pension contributions outstanding at the balance date totalled £964 (2022 - £2,575).

Freedome UK Site 1 Limited (Registered number: 09474055)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

13. RELATED PARTY DISCLOSURES

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.

14. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

15. ULTIMATE CONTROLLING PARTY

The parent of the smallest and largest group for which consolidated financial statements are drawn up of which this company is a member is Parc Invest AS, a company registered in Norway.

The registered office of the parent is Holtet 45, 1368 Stabekk, Norway.