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Registered number: 04630741









DEELEY FREED ESTATES LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
DEELEY FREED ESTATES LIMITED
REGISTERED NUMBER: 04630741

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
6,036
8,107

Tangible assets
 5 
20,049
20,935

Investments
 6 
52
52

  
26,137
29,094

Current assets
  

Debtors
 7 
2,723,692
2,555,599

Cash at bank and in hand
 8 
32,680
327,922

  
2,756,372
2,883,521

Creditors: amounts falling due within one year
 9 
(92,434)
(96,020)

Net current assets
  
 
 
2,663,938
 
 
2,787,501

Total assets less current liabilities
  
2,690,075
2,816,595

Creditors: amounts falling due after more than one year
 10 
(1,301,885)
(1,357,726)

  

Net assets
  
1,388,190
1,458,869


Capital and reserves
  

Called up share capital 
  
497
497

Profit and loss account
  
1,387,693
1,458,372

  
1,388,190
1,458,869


Page 1

 
DEELEY FREED ESTATES LIMITED
REGISTERED NUMBER: 04630741
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Briggs
Director

Date: 7 November 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
DEELEY FREED ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Deeley Freed Estates Limited is a private company limited by shares and incorporated in England and Wales (registered number: 04630741). The registered office is 7 Whiteladies Road, Clifton, Bristol, BS8 1NN. 
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
DEELEY FREED ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15-20% straight line
Office equipment
-
15-20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
DEELEY FREED ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 6).


4.


Intangible assets




Computer software

£



Cost


At 1 May 2023
10,350



At 30 April 2024

10,350



Amortisation


At 1 May 2023
2,243


Charge for the year on owned assets
2,071



At 30 April 2024

4,314



Net book value



At 30 April 2024
6,036



At 30 April 2023
8,107



Page 5

 
DEELEY FREED ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
6,576
93,534
100,110


Additions
1,472
3,384
4,856



At 30 April 2024

8,048
96,918
104,966



Depreciation


At 1 May 2023
1,712
77,463
79,175


Charge for the year on owned assets
1,004
4,738
5,742



At 30 April 2024

2,716
82,201
84,917



Net book value



At 30 April 2024
5,332
14,717
20,049



At 30 April 2023
4,864
16,071
20,935

Page 6

 
DEELEY FREED ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Fixed asset investments





Investments in subsidiary companies
Investment in joint ventures
Total

£
£
£



Cost or valuation


At 1 May 2023
2
50
52



At 30 April 2024
2
50
52





7.


Debtors

2024
2023
£
£



Trade debtors
129
9,734

Amounts owed by group undertakings
1,615,643
1,473,212

Amounts owed by joint ventures and associated undertakings
-
39,800

Other debtors
1,048,565
1,015,835

Prepayments and accrued income
59,355
17,018

2,723,692
2,555,599



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
32,680
327,922

32,680
327,922


Page 7

 
DEELEY FREED ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
22,910
29,776

Amounts owed to group undertakings
25,000
-

Other taxation and social security
32,821
53,471

Other creditors
701
2,771

Accruals and deferred income
11,002
10,002

92,434
96,020



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
5,520
31,421

Amounts owed to other participating interests
1,296,365
1,326,305

1,301,885
1,357,726



11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,031 (2023: £2,031).


12.


Controlling party

The ultimate parent company is Freed Holdings Limited, a company registered in England and Wales. Copies of these financial statements are available from The Registrar of Companies, Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

The audit report was signed on 7 November 2024 by Stephen Haffner (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

 
Page 8