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Company Registration No. SC631653 (Scotland)
Freeman Tabor Real Estate Limited Unaudited accounts for the year ended 31 May 2024
Freeman Tabor Real Estate Limited Unaudited accounts Contents
Page
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Freeman Tabor Real Estate Limited Company Information for the year ended 31 May 2024
Directors
Oluwatoyin Freeman Brian Freeman
Company Number
SC631653 (Scotland)
Registered Office
31 Marshall Drive California Falkirk FK1 2AB
Accountants
Armet Accounting Ltd Room 31 Haypark Business Centre Polmont FK2 0NZ
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Freeman Tabor Real Estate Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
256 
436 
Investment property
447,000 
431,000 
447,256 
431,436 
Current assets
Debtors
304 
185 
Cash at bank and in hand
1,122 
1,312 
1,426 
1,497 
Creditors: amounts falling due within one year
(99,419)
(102,682)
Net current liabilities
(97,993)
(101,185)
Total assets less current liabilities
349,263 
330,251 
Creditors: amounts falling due after more than one year
(278,612)
(278,615)
Provisions for liabilities
Deferred tax
(13,359)
(10,353)
Net assets
57,292 
41,283 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
57,192 
41,183 
Shareholders' funds
57,292 
41,283 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2025 and were signed on its behalf by
Brian Freeman Director Company Registration No. SC631653
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Freeman Tabor Real Estate Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Freeman Tabor Real Estate Limited is a private company, limited by shares, registered in Scotland, registration number SC631653. The registered office is 31 Marshall Drive, California, Falkirk, FK1 2AB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5 Years Straight Line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Freeman Tabor Real Estate Limited Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 June 2023
903 
At 31 May 2024
903 
Depreciation
At 1 June 2023
467 
Charge for the year
180 
At 31 May 2024
647 
Net book value
At 31 May 2024
256 
At 31 May 2023
436 
5
Investment property
2024 
£ 
Fair value at 1 June 2023
431,000 
Net gain from fair value adjustments
16,000 
At 31 May 2024
447,000 
The value of the investment property has been determined with reference to online property valuation resources.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
304 
185 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
551 
80 
Loans from directors
96,874 
99,926 
Accruals
766 
1,484 
Deferred income
1,228 
1,192 
99,419 
102,682 
The directors have advanced funds of £96,874 to the company (31 May 2023: £99,926) in order to fund the purchase of the properties.
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Freeman Tabor Real Estate Limited Notes to the Accounts for the year ended 31 May 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
278,612 
278,612 
Loans from directors
- 
3 
278,612 
278,615 
Aggregate of amounts that fall due for payment after five years
278,612 
278,612 
Creditors falling due after more than one year represent mortgages which are secured on the properties owned by the company.
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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