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REGISTERED NUMBER: 00913144 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Freedom Engineering Co Limited

Freedom Engineering Co Limited (Registered number: 00913144)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Freedom Engineering Co Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M J Freeman
Mrs A M Freeman





SECRETARY: Mrs A M Freeman





REGISTERED OFFICE: Rivendell
25 Hall Park
Swanland
North Ferriby
East Yorkshire
HU14 3NL





REGISTERED NUMBER: 00913144 (England and Wales)





ACCOUNTANTS: WOODGATES
Chartered Accountants
25 Woodgates Lane
North Ferriby
East Yorkshire
HU14 3JR

Freedom Engineering Co Limited (Registered number: 00913144)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,345 36,876

CURRENT ASSETS
Stocks 3,250 3,250
Debtors 5 303,168 267,359
Cash at bank and in hand 360,347 379,413
666,765 650,022
CREDITORS
Amounts falling due within one year 6 120,350 103,741
NET CURRENT ASSETS 546,415 546,281
TOTAL ASSETS LESS CURRENT
LIABILITIES

577,760

583,157

PROVISIONS FOR LIABILITIES 5,750 6,850
NET ASSETS 572,010 576,307

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 571,010 575,307
SHAREHOLDERS' FUNDS 572,010 576,307

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Freedom Engineering Co Limited (Registered number: 00913144)

Balance Sheet - continued
30 June 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





M J Freeman - Director


Freedom Engineering Co Limited (Registered number: 00913144)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Freedom Engineering Co Limited 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.

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.
Plant and machinery etc - 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Freedom Engineering Co Limited (Registered number: 00913144)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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.

Cash and bank balances
Cash and bank balances are recognised at transaction price.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 450,519
DEPRECIATION
At 1 July 2023 413,643
Charge for year 5,531
At 30 June 2024 419,174
NET BOOK VALUE
At 30 June 2024 31,345
At 30 June 2023 36,876

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 192,784 166,155
Amounts owed by group undertakings 76,408 68,909
Other debtors 33,976 32,295
303,168 267,359

Freedom Engineering Co Limited (Registered number: 00913144)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 31,254 36,444
Taxation and social security 79,726 62,868
Other creditors 9,370 4,429
120,350 103,741

7. ULTIMATE PARENT COMPANY

The ultimate parent company is Spiral Tech Research UK Limited (Company Number 09695172) registered in England & Wales. Spiral Tech Research UK Limited registered address and principal place of business is Rivendell, 25 Hall Park, Swanland, North Ferriby, East Yorkshire HU14 3NL.