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REGISTERED NUMBER: 10207735 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

FREESTYLE FABRICATIONS LIMITED

FREESTYLE FABRICATIONS LIMITED (REGISTERED NUMBER: 10207735)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FREESTYLE FABRICATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mrs A Court





SECRETARY: Mrs A Court





REGISTERED OFFICE: The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ





REGISTERED NUMBER: 10207735 (England and Wales)





ACCOUNTANTS: RE Group Accountants Limited
The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ

FREESTYLE FABRICATIONS LIMITED (REGISTERED NUMBER: 10207735)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 83,752 106,382

CURRENT ASSETS
Stocks 19,500 27,199
Debtors 5 113,001 181,688
Cash at bank and in hand 311,176 155,074
443,677 363,961
CREDITORS
Amounts falling due within one year 6 208,019 165,638
NET CURRENT ASSETS 235,658 198,323
TOTAL ASSETS LESS CURRENT LIABILITIES 319,410 304,705

CREDITORS
Amounts falling due after more than one
year

7

(21,143

)

(67,427

)

PROVISIONS FOR LIABILITIES (22,194 ) (26,595 )
NET ASSETS 276,073 210,683

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 275,973 210,583
SHAREHOLDERS' FUNDS 276,073 210,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FREESTYLE FABRICATIONS LIMITED (REGISTERED NUMBER: 10207735)

BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 September 2024 and were signed by:





Mrs A Court - Director


FREESTYLE FABRICATIONS LIMITED (REGISTERED NUMBER: 10207735)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Freestyle Fabrications Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

FREESTYLE FABRICATIONS LIMITED (REGISTERED NUMBER: 10207735)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 191,215
Additions 7,155
Disposals (13,975 )
At 31 May 2024 184,395
DEPRECIATION
At 1 June 2023 84,833
Charge for year 27,920
Eliminated on disposal (12,110 )
At 31 May 2024 100,643
NET BOOK VALUE
At 31 May 2024 83,752
At 31 May 2023 106,382

FREESTYLE FABRICATIONS LIMITED (REGISTERED NUMBER: 10207735)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 127,185
DEPRECIATION
At 1 June 2023 34,228
Charge for year 23,240
At 31 May 2024 57,468
NET BOOK VALUE
At 31 May 2024 69,717
At 31 May 2023 92,957

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 93,388 159,374
Other debtors 19,613 22,314
113,001 181,688

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 36,284 36,560
Trade creditors 58,587 73,214
Taxation and social security 82,183 32,401
Other creditors 20,965 13,463
208,019 165,638

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 10,000 20,000
Hire purchase contracts (see note 8) 11,143 47,427
21,143 67,427

FREESTYLE FABRICATIONS LIMITED (REGISTERED NUMBER: 10207735)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 38,414 41,286
Between one and five years 11,939 50,353
50,353 91,639

Finance charges repayable:
Within one year 2,130 4,726
Between one and five years 796 2,926
2,926 7,652

Net obligations repayable:
Within one year 36,284 36,560
Between one and five years 11,143 47,427
47,427 83,987

Non-cancellable operating leases
2024 2023
£    £   
Within one year 37,000 37,000
Between one and five years 95,583 132,583
132,583 169,583

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100