34 33 T. Freemantle Limited 03147425 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is Manufacturing Machines Digita Accounts Production Advanced 6.30.9574.0 true false 03147425 2024-01-01 2024-12-31 03147425 2024-12-31 03147425 bus:OrdinaryShareClass1 2024-12-31 03147425 core:RetainedEarningsAccumulatedLosses 2024-12-31 03147425 core:ShareCapital 2024-12-31 03147425 core:CurrentFinancialInstruments 2024-12-31 03147425 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 03147425 core:FurnitureFittingsToolsEquipment 2024-12-31 03147425 core:MotorVehicles 2024-12-31 03147425 bus:SmallEntities 2024-01-01 2024-12-31 03147425 bus:Audited 2024-01-01 2024-12-31 03147425 bus:FilletedAccounts 2024-01-01 2024-12-31 03147425 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03147425 bus:RegisteredOffice 2024-01-01 2024-12-31 03147425 bus:Director2 2024-01-01 2024-12-31 03147425 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 03147425 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03147425 core:FurnitureFittings 2024-01-01 2024-12-31 03147425 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 03147425 core:MotorVehicles 2024-01-01 2024-12-31 03147425 1 2024-01-01 2024-12-31 03147425 countries:England 2024-01-01 2024-12-31 03147425 2023-12-31 03147425 core:FurnitureFittingsToolsEquipment 2023-12-31 03147425 core:MotorVehicles 2023-12-31 03147425 2023-01-01 2023-12-31 03147425 2023-12-31 03147425 bus:OrdinaryShareClass1 2023-12-31 03147425 core:RetainedEarningsAccumulatedLosses 2023-12-31 03147425 core:ShareCapital 2023-12-31 03147425 core:CurrentFinancialInstruments 2023-12-31 03147425 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03147425 core:FurnitureFittingsToolsEquipment 2023-12-31 03147425 core:MotorVehicles 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 03147425

T. Freemantle Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

T. Freemantle Limited

Registration number: 03147425

Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

80,149

63,988

Investments

6

110

110

 

80,259

64,098

Current assets

 

Stocks

1,330,761

1,482,619

Debtors

7

1,238,187

1,950,360

Cash at bank and in hand

 

3,135,848

2,844,369

 

5,704,796

6,277,348

Creditors: Amounts falling due within one year

8

(2,159,234)

(3,056,496)

Net current assets

 

3,545,562

3,220,852

Total assets less current liabilities

 

3,625,821

3,284,950

Provisions for liabilities

(8,201)

(10,369)

Net assets

 

3,617,620

3,274,581

Capital and reserves

 

Called up share capital

9

7,400

7,400

Profit and loss account

3,610,220

3,267,181

Shareholders' funds

 

3,617,620

3,274,581

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 26 March 2025 and signed on its behalf by:
 


Mr R D Kitchen
Director

   
 

T. Freemantle Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

Registration number: 03147425

2

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 were prepared in accordance with the provisions of Financial Reporting Standard 102 section 1A - smaller entities.

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.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 26 March 2025 was Robert Smith BSc FCA, who signed for and on behalf of RNS Chartered Accountants.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

T. Freemantle Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets is stated in the statement of financial position at deemed cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

15% or 25% on written down value

Motor vehicles

25% on written down value

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in 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 less a 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.

 

T. Freemantle Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

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 at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 34 (2023 - 33).

 

T. Freemantle Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4

Auditor's remuneration

2024
£

2023
£

Audit of the financial statements

7,801

4,959


 

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

216,150

81,018

297,168

Additions

3,643

35,000

38,643

Disposals

-

(29,476)

(29,476)

At 31 December 2024

219,793

86,542

306,335

Depreciation

At 1 January 2024

167,238

65,942

233,180

Charge for the year

10,356

8,280

18,636

Eliminated on disposal

-

(25,630)

(25,630)

At 31 December 2024

177,594

48,592

226,186

Carrying amount

At 31 December 2024

42,199

37,950

80,149

At 31 December 2023

48,912

15,076

63,988

6

Investments

2024
£

2023
£

Other investments

110

110

 

T. Freemantle Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

7

Debtors

2024
£

2023
£

Trade debtors

1,191,147

1,898,424

Other debtors

47,040

51,936

1,238,187

1,950,360

8

Creditors

2024
£

2023
£

Due within one year

Trade creditors

201,253

374,101

Social security and other taxes

397,447

297,962

Other creditors

1,560,534

2,384,433

2,159,234

3,056,496

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

7,400

7,400

7,400

7,400

         
 

T. Freemantle Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

10

Parent and ultimate parent undertaking

The company's immediate parent is Sorb Industri AB, incorporated in Sweden.

 The ultimate parent is Carl Bennet AB, incorporated in Sweden.

 

The parent of the largest group in which these financial statements are consolidated is Carl Bennet AB, incorporated in Sweden.
The address of Carl Bennet AB is:
Box 10035 S-434 21 Kungsbacka, Sweden.

The parent of the smallest group in which these financial statements are consolidated is Lifco AB, incorporated in Sweden.
The address of Lifco AB is:
Verkmastaregatan 1, SE-745 85 Enkoping, Sweden