2023-01-012023-12-312023-12-31false13077897FREEBORNE IMPACT 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FREEBORNE IMPACT LIMITED

Registered Number
13077897
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

FREEBORNE IMPACT LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

JA R Godfrey
J C Honeyborne

Registered Address

Edgecumbe Hall Richmond Hill
Clifton
Bristol
BS8 1AT

Registered Number

13077897 (England and Wales)
FREEBORNE IMPACT LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets31,4493,381
1,4493,381
Current assets
Debtors48,71716
Cash at bank and on hand65,06616,795
73,78316,811
Creditors amounts falling due within one year5(57,800)(20,000)
Net current assets (liabilities)15,983(3,189)
Total assets less current liabilities17,432192
Provisions for liabilities6(275)(642)
Accruals and deferred income(17,780)(1,680)
Net assets(623)(2,130)
Capital and reserves
Profit and loss account(623)(2,130)
Shareholders' funds(623)(2,130)
The financial statements were approved and authorised for issue by the Board of Directors on 20 September 2024, and are signed on its behalf by:
J C Honeyborne
Director
Registered Company No. 13077897
FREEBORNE IMPACT LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
Freeborne Impact Limited is a private company, limited by shares, registered in England and Wales, registration number 13077897. The registered office is Edgecumbe Hall, Richmond Hill, Clifton, Bristol, BS8 1AT.
Statement of compliance
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.
Basis of preparation
The accounts have been prepared under the historical cost convention. The company's Articles of Association do not permit the payment of dividends or the remuneration of officers of the company. Consequently, the company's activities are conducted on a "not-for-profit" basis.
Functional and presentation currency
The financial statements are presented in £ sterling and this is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss and the current tax charge is based upon the taxable profit for the year. Current tax assets are recognised when tax paid exceeds the tax payable. Current tax assets and liabilities are measured using tax rates that have been enacted or substantially enacted by the reporting date.
Deferred tax
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.
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:

Straight line (years)
Plant and machinery3
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 January 235,7965,796
At 31 December 235,7965,796
Depreciation and impairment
At 01 January 232,4152,415
Charge for year1,9321,932
At 31 December 234,3474,347
Net book value
At 31 December 231,4491,449
At 31 December 223,3813,381
4.Debtors: amounts due within one year

2023

2022

££
Other debtors8,71716
Total8,71716
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables37,800-
Amounts owed to related parties20,00020,000
Total57,80020,000
6.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)275642
Total275642
7.Related party transactions
The company has taken the exemption under FRS 102 section 1A para 1AC.35 and has not disclosed transactions with wholly owned members of the same group. In the opinion of the director, there are no transactions with related parties that have not been concluded under normal market conditions.
8.Controlling party
The company's parent undertaking is Freeborne Media Limited. The registered office and place of business of Freeborne Media Limited is Edgecumbe Hall, Richmond Hill, Clifton, Bristol, BS8 1AT.