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Company Registration No. 11144453 (England and Wales)
Freestyle TS Limited Unaudited accounts for the year ended 31 December 2023
Freestyle TS Limited Unaudited accounts Contents
Page
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Freestyle TS Limited Company Information for the year ended 31 December 2023
Directors
Mr W J H Everett Mr M Roberts
Company Number
11144453 (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 TS Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,117 
- 
Current assets
Inventories
200,000 
- 
Debtors
2,616,729 
1,384,342 
Cash at bank and in hand
100,390 
244,033 
2,917,119 
1,628,375 
Creditors: amounts falling due within one year
(1,337,213)
(609,602)
Net current assets
1,579,906 
1,018,773 
Net assets
1,581,023 
1,018,773 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
1,580,023 
1,017,773 
Shareholders' funds
1,581,023 
1,018,773 
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. 11144453
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Freestyle TS Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Freestyle TS Limited is a private company, limited by shares, registered in England and Wales, registration number 11144453. 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.
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
20%
Fixtures & fittings
20%
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.
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.
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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Freestyle TS Limited Notes to the Accounts for the year ended 31 December 2023
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
- 
- 
- 
Additions
49,995 
27,314 
77,309 
At 31 December 2023
49,995 
27,314 
77,309 
Depreciation
Charge for the year
308 
165 
473 
Surplus on revaluation
48,948 
26,771 
75,719 
At 31 December 2023
49,256 
26,936 
76,192 
Net book value
At 31 December 2023
739 
378 
1,117 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
17,707 
- 
Trade debtors
872,844 
192,113 
Amounts due from group undertakings etc.
1,717,873 
1,192,229 
Accrued income and prepayments
8,305 
- 
2,616,729 
1,384,342 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
- 
34,236 
Trade creditors
918,946 
93,850 
Taxes and social security
365,936 
142,443 
Other creditors
20,737 
- 
Accruals
31,594 
339,073 
1,337,213 
609,602 
7
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.
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Freestyle TS Limited Notes to the Accounts for the year ended 31 December 2023
8
Average number of employees
During the year the average number of employees was 20 (2022: 12).
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