2023-01-012023-12-312023-12-31false11600091FREEBORNE MEDIA 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FREEBORNE MEDIA LIMITED

Registered Number
11600091
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

FREEBORNE MEDIA 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

11600091 (England and Wales)
FREEBORNE MEDIA LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3150910
Investments4101101
2511,011
Current assets
Debtors5146,30520,310
Cash at bank and on hand96,206138,392
242,511158,702
Creditors amounts falling due within one year6(159,339)(73,929)
Net current assets (liabilities)83,17284,773
Total assets less current liabilities83,42385,784
Provisions for liabilities7(29)(173)
Net assets83,39485,611
Capital and reserves
Called up share capital100100
Profit and loss account83,29485,511
Shareholders' funds83,39485,611
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. 11600091
FREEBORNE MEDIA LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
Freeborne Media Limited is a private company, limited by shares, registered in England and Wales, registration number 11600091. 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.
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.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
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
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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 year12
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 January 2311,57811,578
Disposals(8,685)(8,685)
At 31 December 232,8932,893
Depreciation and impairment
At 01 January 2310,66810,668
Charge for year760760
On disposals(8,685)(8,685)
At 31 December 232,7432,743
Net book value
At 31 December 23150150
At 31 December 22910910
4.Fixed asset investments
The company's investments are 100 Ordinary Shares in Freeborne Films Limited and 1 Ordinary Share in Freeborne Impact Limited.

Investments in groups1

Total

££
Cost or valuation
At 01 January 23101101
At 31 December 23101101
Net book value
At 31 December 23101101
At 31 December 22101101

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables128,509-
Amounts owed by group undertakings17,79620,000
Other debtors-310
Total146,30520,310
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables3,88610,409
Amounts owed to related parties9,3469,346
Taxation and social security32,14324,605
Other creditors113,96429,569
Total159,33973,929
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)29173
Total29173
8.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 directors, there are no transactions with related parties that have not been concluded under normal market conditions.