The Freebird Club UK Ltd 14573395 false 2023-01-05 2024-03-31 2024-03-31 The principal activity of the company is development of Software-as-a-Service (SaaS) products, focusing on the 50 years and over age group. Digita Accounts Production Advanced 6.30.9574.0 true true 14573395 2023-01-05 2024-03-31 14573395 2024-03-31 14573395 bus:OrdinaryShareClass1 2024-03-31 14573395 core:CurrentFinancialInstruments 2024-03-31 14573395 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14573395 core:FurnitureFittingsToolsEquipment 2024-03-31 14573395 bus:SmallEntities 2023-01-05 2024-03-31 14573395 bus:AuditExemptWithAccountantsReport 2023-01-05 2024-03-31 14573395 bus:FilletedAccounts 2023-01-05 2024-03-31 14573395 bus:SmallCompaniesRegimeForAccounts 2023-01-05 2024-03-31 14573395 bus:RegisteredOffice 2023-01-05 2024-03-31 14573395 bus:Director1 2023-01-05 2024-03-31 14573395 bus:OrdinaryShareClass1 2023-01-05 2024-03-31 14573395 bus:PrivateLimitedCompanyLtd 2023-01-05 2024-03-31 14573395 core:FurnitureFittingsToolsEquipment 2023-01-05 2024-03-31 14573395 core:OfficeEquipment 2023-01-05 2024-03-31 14573395 1 2023-01-05 2024-03-31 14573395 countries:EnglandWales 2023-01-05 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14573395

The Freebird Club UK Ltd

Unaudited Filleted Financial Statements

for the Period from 5 January 2023 to 31 March 2024

 

The Freebird Club UK Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

The Freebird Club UK Ltd

Company Information

Director

P Mangan

Registered office

128 City Road
London
EC1V 2NX

 

The Freebird Club UK Ltd

(Registration number: 14573395)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

810

Current assets

 

Debtors

5

119,094

Cash at bank and in hand

 

20,658

 

139,752

Creditors: Amounts falling due within one year

6

(186,466)

Net current liabilities

 

(46,714)

Net liabilities

 

(45,904)

Capital and reserves

 

Called up share capital

1

Retained earnings

(45,905)

Shareholders' deficit

 

(45,904)

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 October 2024
 

.........................................
P Mangan
Director

 

The Freebird Club UK Ltd

Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
128 City Road
London
EC1V 2NX
United Kingdom

These financial statements were authorised for issue by the director on 4 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

These financial statement have been prepared covering a period of 15 months, from the date of incorporation to 31 March 2024.

Going concern

At 31 March 2024, the company had net liabilities. Despite this, the director has confirmed that, in his opinion, the company parent undertaking (Freebird Club) will continue to provide financial support as necessary to allow the company to meet its financial obligations for at least the next twelve months from the date of signing these accounts.

Consequently, the company is considered a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

The Freebird Club UK Ltd

Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

The Freebird Club UK Ltd

Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2.

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,012

1,012

At 31 March 2024

1,012

1,012

Depreciation

Charge for the period

202

202

At 31 March 2024

202

202

Carrying amount

At 31 March 2024

810

810

5

Debtors

Current

2024
£

Other debtors

119,094

 

119,094

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

164,753

Taxation and social security

 

2,276

Accruals and deferred income

 

9,665

Other creditors

 

9,772

 

186,466

 

The Freebird Club UK Ltd

Notes to the Unaudited Financial Statements for the Period from 5 January 2023 to 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary shares of £1 each

1

1