Freemantle Developments (West End) Limited 14885263 false 2023-05-22 2024-03-31 2024-03-31 The principal activity of the company is property development. Digita Accounts Production Advanced 6.30.9574.0 true false 14885263 2023-05-22 2024-03-31 14885263 2024-03-31 14885263 bus:OrdinaryShareClass1 2024-03-31 14885263 core:CurrentFinancialInstruments 2024-03-31 14885263 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14885263 core:ParentEntities 2024-03-31 14885263 bus:SmallEntities 2023-05-22 2024-03-31 14885263 bus:AuditExemptWithAccountantsReport 2023-05-22 2024-03-31 14885263 bus:FullAccounts 2023-05-22 2024-03-31 14885263 bus:SmallCompaniesRegimeForAccounts 2023-05-22 2024-03-31 14885263 bus:RegisteredOffice 2023-05-22 2024-03-31 14885263 bus:Director1 2023-05-22 2024-03-31 14885263 bus:Director2 2023-05-22 2024-03-31 14885263 bus:OrdinaryShareClass1 2023-05-22 2024-03-31 14885263 bus:PrivateLimitedCompanyLtd 2023-05-22 2024-03-31 14885263 core:ParentEntities 2023-05-22 2024-03-31 14885263 1 2023-05-22 2024-03-31 14885263 countries:AllCountries 2023-05-22 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14885263

Freemantle Developments (West End) Limited

Annual Report and Unaudited Financial Statements

for the Period from 22 May 2023 to 31 March 2024

 

Freemantle Developments (West End) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Freemantle Developments (West End) Limited

Company Information

Directors

Mr N J Warfield

Mrs V A Warfield

Registered office

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Freemantle Developments (West End) Limited

(Registration number: 14885263)
Balance Sheet as at 31 March 2024

Note

2024
£

Current assets

 

Stocks

3

1,175,037

Debtors

4

100

 

1,175,137

Creditors: Amounts falling due within one year

5

(1,176,887)

Net liabilities

 

(1,750)

Capital and reserves

 

Called up share capital

6

100

Retained earnings

(1,850)

Shareholders' deficit

 

(1,750)

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 September 2024 and signed on its behalf by:
 

.........................................
Mr N J Warfield
Director

 

Freemantle Developments (West End) Limited

Notes to the Unaudited Financial Statements for the Period from 22 May 2023 to 31 March 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Freemantle Developments (West End) Limited

Notes to the Unaudited Financial Statements for the Period from 22 May 2023 to 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

3

Stocks

2024
£

Work in progress

1,175,037

4

Debtors

Current

Note

2024
£

Amounts owed by related parties

7

100

 

Freemantle Developments (West End) Limited

Notes to the Unaudited Financial Statements for the Period from 22 May 2023 to 31 March 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

800

Accruals and deferred income

186,292

Other creditors

989,795

1,176,887

6

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary shares of £1 each

100

100

     

7

Related party transactions

Loans to related parties

2024

Parent
£

Total
£

Advanced

100

100

At end of period

100

100

8

Parent and ultimate parent undertaking

The company's immediate parent is Freemantle Investments Limited, incorporated in England & Wales.

 The ultimate controlling party is Mr N & Mrs V Warfield by virtue of their shareholding in Freemantle Investments Limited.