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Company Registration No. 11143731 (England and Wales)
Freestyle Holdings Limited Unaudited accounts for the year ended 31 December 2023
Freestyle Holdings Limited Unaudited accounts Contents
Page
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Freestyle Holdings Limited Company Information for the year ended 31 December 2023
Directors
Mr W J H Everett Mr M Roberts
Company Number
11143731 (England and Wales)
Registered Office
2 Murrell Green Business Park London Road Hook Hampshire RG27 9GR United Kingdom
Accountants
Wulmer Associates Wulmer Cottage, Pitch Place Thursley Nr Godalming Surrey GU8 6QW
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Freestyle Holdings Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
- 
1,091,681 
Cash at bank and in hand
1,328 
8,115 
1,328 
1,099,796 
Creditors: amounts falling due within one year
- 
(121,814)
Net current assets
1,328 
977,982 
Net assets
1,328 
977,982 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
328 
976,982 
Shareholders' funds
1,328 
977,982 
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 23 September 2024 and were signed on its behalf by
Mr W J H Everett Director Company Registration No. 11143731
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Freestyle Holdings Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Freestyle Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 11143731. The registered office is 2 Murrell Green Business Park, London Road, Hook, Hampshire, RG27 9GR, United Kingdom.
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.
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Freestyle Holdings Limited Notes to the Accounts for the year ended 31 December 2023
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
- 
1,091,681 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
- 
121,814 
6
Controlling party
The immediate parent undertaking of the company at 31 December 2023 is Freestyle ITS Holdings Limited, a company registered in England and Wales. The ultimate parent undertaking at 31 December 2023 is Freestyle Employee Ownership Trustee Limited, also registered in England and Wales.
7
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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