Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true3falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.32023-04-01No description of principal activitytruefalse 10471834 2023-04-01 2024-03-31 10471834 2022-04-01 2023-03-31 10471834 2024-03-31 10471834 2023-03-31 10471834 c:Director3 2023-04-01 2024-03-31 10471834 d:CurrentFinancialInstruments 2024-03-31 10471834 d:CurrentFinancialInstruments 2023-03-31 10471834 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10471834 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10471834 d:ShareCapital 2024-03-31 10471834 d:ShareCapital 2023-03-31 10471834 d:RetainedEarningsAccumulatedLosses 2024-03-31 10471834 d:RetainedEarningsAccumulatedLosses 2023-03-31 10471834 c:FRS102 2023-04-01 2024-03-31 10471834 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10471834 c:FullAccounts 2023-04-01 2024-03-31 10471834 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10471834 2 2023-04-01 2024-03-31 10471834 6 2023-04-01 2024-03-31 10471834 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 10471834









FREED PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
FREED PROPERTIES LIMITED
REGISTERED NUMBER: 10471834

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
971,567
1,151,772

  
971,567
1,151,772

Current assets
  

Debtors: amounts falling due within one year
 5 
1,826,318
938,424

  
1,826,318
938,424

Creditors: amounts falling due within one year
 6 
(1,977,680)
(1,095,909)

Net current liabilities
  
 
 
(151,362)
 
 
(157,485)

Total assets less current liabilities
  
820,205
994,287

  

Net assets
  
820,205
994,287


Capital and reserves
  

Called up share capital 
  
14
14

Profit and loss account
  
820,191
994,273

  
820,205
994,287


Page 1

 
FREED PROPERTIES LIMITED
REGISTERED NUMBER: 10471834
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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: 




M O Freed
Director

Date: 2 December 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
FREED PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Freed Properties Limited is a private company limited by shares, incorporated in England & Wales (registered number: 10471834). The registered office of the company is 7 Whiteladies Road, 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.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 3

 
FREED PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2023
1,151,772


Share of profits/(losses)
(180,205)



At 31 March 2024
971,567




Page 4

 
FREED PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
1,826,318
938,424

1,826,318
938,424



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to related parties
1,063,888
-

Amounts owed to other participating interests
51,554
5,783

Corporation tax
-
227,888

Other creditors
860,738
860,738

Accruals and deferred income
1,500
1,500

1,977,680
1,095,909



7.


Related party transactions

Included within creditors, is an amount of £860,738 (2023: £860,738) owed to a director of the company. The balance is repayable on demand and it is interest-free. 

 
Page 5