2023-12-01 SC492177 2024-11-30 SC492177 2023-12-01 2024-11-30 SC492177 2023-11-30 SC492177 2022-12-01 2023-11-30 SC492177 uk-core:WithinOneYear 2023-11-30 SC492177 uk-core:WithinOneYear 2024-11-30 SC492177 uk-core:ShareCapital 2024-11-30 SC492177 uk-core:ShareCapital 2023-11-30 SC492177 uk-core:RetainedEarningsAccumulatedLosses 2024-11-30 SC492177 uk-core:RetainedEarningsAccumulatedLosses 2023-11-30 SC492177 uk-bus:Director1 2023-12-01 2024-11-30 SC492177 uk-core:ComputerEquipment 2023-12-01 2024-11-30 SC492177 uk-core:OfficeEquipment 2023-12-01 2024-11-30 SC492177 uk-core:ComputerEquipment 2023-11-30 SC492177 uk-core:OfficeEquipment 2023-11-30 SC492177 uk-core:OfficeEquipment 2024-11-30 SC492177 uk-core:ComputerEquipment 2024-11-30 SC492177 uk-core:WithinOneYear 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure SC492177 uk-bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 SC492177 uk-bus:FRS102 2023-12-01 2024-11-30 SC492177 uk-bus:FilletedAccounts 2023-12-01 2024-11-30 SC492177 uk-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30
Freak Design Ltd
Registered Number:SC492177
For the year ended 30 November 2024
Scotland
Unaudited Financial Statements
2
For the year ended 30 November 2024
Freak Design Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
SC492177
As at 30 November 2024
Freak Design Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
5,762
4,479
2
5,762
4,479
Current assets
Trade and other receivables
15,352
29,994
3
200,935
Cash and cash equivalents
238,928
268,922
216,287
Trade and other payables: amounts falling due within one
year
(20,573)
(50,240)
4
195,714
218,682
Net current assets
Total assets less current liabilities
224,444
200,193
224,444
Net assets
200,193
Capital and reserves
Called up share capital
10
10
Retained earnings
224,434
200,183
224,444
200,193
Shareholders' funds
For the year ended 30 November 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 of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
James P Feeney Director
These financial statements were approved and authorised for issue by the Board on 10 February 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 30 November 2024
Freak Design Ltd
Notes to the Financial Statements
Statutory Information
Freak Design Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number
SC492177.
Registered address:
7b West Castle Road
Edinburgh
EH10 5AT
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Reducing balance
Computer equipment
25% Reducing balance
Fixtures and fittings
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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5
For the year ended 30 November 2024
Freak Design Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
£
£
£
Cost or
valuation
At 01 December 2023
14,983
12,182
2,801
3,204
3,204
-
Additions
At 30 November 2024
2,801
15,386
18,187
Provision for depreciation and impairment
At 01 December 2023
10,504
8,879
1,625
Charge for year
1,921
1,627
294
At 30 November 2024
12,425
10,506
1,919
At 30 November 2024
Net book value
882
4,880
5,762
At 30 November 2023
1,176
3,303
4,479
3. Trade and other receivables
2023
2024
£
£
Trade debtors
29,079
15,352
Other debtors
915
-
15,352
29,994
Short-term debtors are measured at fair value at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and measured subsequently at amortised cost using the effective interest method, less any impairment.
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
6,051
1,187
Taxation and social security
40,173
16,210
Other creditors
4,016
3,176
50,240
20,573
Short-term creditors are measured at the transaction price. Other financial laibilities, 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.
5. Average number of persons employed
During the year the average number of employees was 1 (2023 : 1)
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