2023-02-012024-01-312024-01-31false07483116Freeland Risk Management 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Freeland Risk Management Limited

Registered Number
07483116
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

Freeland Risk Management Limited
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

Colin Richard Kneller

Company Secretary

KNELLER, Avril June

Registered Address

2 Upperton Gardens
Eastbourne
BN21 2AH

Registered Number

07483116 (England and Wales)
Freeland Risk Management Limited
Statement of Financial Position
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets35,8855,237
5,8855,237
Current assets
Debtors434,590471
Cash at bank and on hand32,53438,014
67,12438,485
Creditors amounts falling due within one year5(18,499)(10,072)
Net current assets (liabilities)48,62528,413
Total assets less current liabilities54,51033,650
Provisions for liabilities6(1,118)(1,001)
Net assets53,39232,649
Capital and reserves
Called up share capital22
Profit and loss account53,39032,647
Shareholders' funds53,39232,649
The financial statements were approved and authorised for issue by the Director on 17 October 2024, and are signed on its behalf by:
Colin Richard Kneller
Director
Registered Company No. 07483116
Freeland Risk Management Limited
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.
2.Average number of employees

20242023
Average number of employees during the year01
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 February 2315,831
Additions2,160
At 31 January 2417,992
Depreciation and impairment
At 01 February 2310,595
Charge for year1,511
At 31 January 2412,107
Net book value
At 31 January 245,885
At 31 January 235,237
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables34,590-
Other debtors-471
Total34,590471
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables10636
Taxation and social security16,9599,321
Other creditors77513
Accrued liabilities and deferred income659702
Total18,49910,072
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,1181,001
Total1,1181,001