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Company Registration No. 07472344 (England and Wales)
FreeSourceUK Ltd Unaudited accounts for the year ended 31 December 2024
FreeSourceUK Ltd Unaudited accounts Contents
Page
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FreeSourceUK Ltd Company Information for the year ended 31 December 2024
Directors
Rick Squires Ruth Squires
Company Number
07472344 (England and Wales)
Registered Office
Sycamore Lodge, Holme House Farm Garth Row Lane, Skelsmergh Kendal LA8 9AQ
Accountants
Kate King Accountancy Services ltd 33a Market Place Kendal Cumbria LA9 4TP
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FreeSourceUK Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,341 
1,942 
Current assets
Inventories
5,880 
- 
Debtors
2,035 
(306)
Cash at bank and in hand
- 
1 
7,915 
(305)
Creditors: amounts falling due within one year
(7,667)
(6,486)
Net current assets/(liabilities)
248 
(6,791)
Total assets less current liabilities
2,589 
(4,849)
Creditors: amounts falling due after more than one year
(2,569)
(4,895)
Net assets/(liabilities)
20 
(9,744)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
18 
(9,746)
Shareholders' funds
20 
(9,744)
For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by
Rick Squires Director Company Registration No. 07472344
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FreeSourceUK Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
FreeSourceUK Ltd is a private company, limited by shares, registered in England and Wales, registration number 07472344. The registered office is Sycamore Lodge, Holme House Farm, Garth Row Lane, Skelsmergh, Kendal, LA8 9AQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 December 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2023. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% SL
4
Tangible fixed assets
Land & buildings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2024
859 
1,805 
2,664 
Additions
- 
950 
950 
At 31 December 2024
859 
2,755 
3,614 
Depreciation
At 1 January 2024
- 
722 
722 
Charge for the year
- 
551 
551 
At 31 December 2024
- 
1,273 
1,273 
Net book value
At 31 December 2024
859 
1,482 
2,341 
At 31 December 2023
859 
1,083 
1,942 
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FreeSourceUK Ltd Notes to the Accounts for the year ended 31 December 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,035 
(306)
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
2,682 
2,767 
Trade creditors
2,310 
560 
Taxes and social security
1,233 
(21)
Loans from directors
907 
2,180 
Accruals
535 
1,000 
7,667 
6,486 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
2,569 
4,895 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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