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REGISTERED NUMBER: 05335999 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

Freeola Ltd

Freeola Ltd (Registered number: 05335999)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Freeola Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A L Rainbird
T J Rainbird





SECRETARY: Mrs D Maynard





REGISTERED OFFICE: 94 Church Street
Bocking
Braintree
Essex
CM7 5JY





REGISTERED NUMBER: 05335999 (England and Wales)





AUDITORS: Cartwrights
Chartered Accountants and Business Advisors
Statutory Auditor
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

Freeola Ltd (Registered number: 05335999)

Balance Sheet
31 May 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 729,947 765,998
Investments 5 8 8
729,955 766,006

CURRENT ASSETS
Stocks 3,819 1,201
Debtors 6 10,591 11,241
Cash at bank and in hand 191,162 128,897
205,572 141,339
CREDITORS
Amounts falling due within one year 7 207,989 206,041
NET CURRENT LIABILITIES (2,417 ) (64,702 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

727,538

701,304

PROVISIONS FOR LIABILITIES 27,344 27,062
NET ASSETS 700,194 674,242

CAPITAL AND RESERVES
Called up share capital 4,585 4,585
Retained earnings 695,609 669,657
SHAREHOLDERS' FUNDS 700,194 674,242

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 Board of Directors and authorised for issue on 20 January 2025 and were signed on its behalf by:





A L Rainbird - Director


Freeola Ltd (Registered number: 05335999)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Freeola Ltd 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

Compliance with accounting standards
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.

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Practice), which have been applied consistently (except as otherwise stated).

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.

Freehold property - 0%
Fixtures, fittings & plant - 25% on cost
Motor vehicles - 25% on cost

The freehold property is being continuously maintained and thus no depreciation is necessary.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


Freeola Ltd (Registered number: 05335999)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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 13 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Freehold fittings Motor
property & plant vehicles Totals
£    £    £    £   
COST
At 1 June 2023 586,028 208,979 145,900 940,907
Additions - 4,976 - 4,976
Disposals - (1,213 ) - (1,213 )
At 31 May 2024 586,028 212,742 145,900 944,670
DEPRECIATION
At 1 June 2023 - 143,626 31,283 174,909
Charge for year - 24,827 16,200 41,027
Eliminated on disposal - (1,213 ) - (1,213 )
At 31 May 2024 - 167,240 47,483 214,723
NET BOOK VALUE
At 31 May 2024 586,028 45,502 98,417 729,947
At 31 May 2023 586,028 65,353 114,617 765,998

Freeola Ltd (Registered number: 05335999)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 June 2023
and 31 May 2024 8
NET BOOK VALUE
At 31 May 2024 8
At 31 May 2023 8

The company own 100% of the shareholdings in RQ Sites Ltd., UK PC Ltd, Get Dotted Ltd. and Instant Sites Ltd. All these subsidiaries remained dormant during the year.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Prepayments and accrued income 10,591 11,241

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Bank loans and overdrafts - 11,130
Trade creditors 49,884 42,631
Tax 4,147 -
Social security and other taxes 11,300 11,610
Pension liability 1,857 3,242
VAT 39,643 38,042
Accruals and deferred income 101,158 99,386
207,989 206,041

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Eric McIntyre FCCA (Senior Statutory Auditor)
for and on behalf of Cartwrights

9. ULTIMATE CONTROLLING PARTY

No one individual has a controlling interest in the company.