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REGISTERED NUMBER: 14882751 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 19 MAY 2023 TO 31 MAY 2024

FOR

FREEWHEEL DRIVING SCHOOL LTD

FREEWHEEL DRIVING SCHOOL LTD (REGISTERED NUMBER: 14882751)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 19 MAY 2023 TO 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

FREEWHEEL DRIVING SCHOOL LTD

COMPANY INFORMATION
FOR THE PERIOD 19 MAY 2023 TO 31 MAY 2024







DIRECTORS: S J Davies
B C Pegge





REGISTERED OFFICE: 22 Knights Meadow
Battle
East Sussex
TN33 0EW





REGISTERED NUMBER: 14882751 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ

FREEWHEEL DRIVING SCHOOL LTD (REGISTERED NUMBER: 14882751)

BALANCE SHEET
31 MAY 2024

Notes £   
CURRENT ASSETS
Cash at bank 1,315

CREDITORS
Amounts falling due within one year 4 40,247
NET CURRENT LIABILITIES (38,932 )
TOTAL ASSETS LESS CURRENT LIABILITIES (38,932 )

CAPITAL AND RESERVES
Called up share capital 6 100
Retained earnings 7 (39,032 )
SHAREHOLDERS' FUNDS (38,932 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 19 February 2025 and were signed on its behalf by:





S J Davies - Director


FREEWHEEL DRIVING SCHOOL LTD (REGISTERED NUMBER: 14882751)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 19 MAY 2023 TO 31 MAY 2024

1. STATUTORY INFORMATION

Freewheel Driving School 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

Basis of preparing the financial statements
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.

As at the balance sheet date the balance sheet reflects net current liabilities totalling £38,932

The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements.

The directors are satisfied that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they consider that no material uncertainty exists. As a result, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements..

Turnover
Turnover represents net invoiced sales of services of driving lessons, excluding value added tax.
Turnover is recognised when the company obtains the right to consideration.

Taxation
Taxation for the period 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.

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 period 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 period was 2 .

FREEWHEEL DRIVING SCHOOL LTD (REGISTERED NUMBER: 14882751)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 19 MAY 2023 TO 31 MAY 2024

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts (see note 5) 1,003
Other loans (see note 5) 18,698
Trade creditors 299
Social security and other taxes 8,137
VAT 11,110
Directors' current accounts 1
Accrued expenses 999
40,247

5. LOANS

An analysis of the maturity of loans is given below:

£   
Amounts falling due within one year or on demand:
Bank overdrafts 1,003
Other loans 18,698
19,701

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary 1 100

7. RESERVES
Retained
earnings
£   

Deficit for the period (32,932 )
Dividends (6,100 )
At 31 May 2024 (39,032 )

8. RELATED PARTY DISCLOSURES

As at the balance sheet date the director was owed £1 by the entity.

There are no terms attached to this loan.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FREEWHEEL DRIVING SCHOOL LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Freewheel Driving School Ltd for the period ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Freewheel Driving School Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Freewheel Driving School Ltd and state those matters that we have agreed to state to the Board of Directors of Freewheel Driving School Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Freewheel Driving School Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Freewheel Driving School Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Freewheel Driving School Ltd. You consider that Freewheel Driving School Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Freewheel Driving School Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ


19 March 2025