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Registration number: 06222029

Freemantle Capital Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Freemantle Capital Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Freemantle Capital 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 Capital Limited

(Registration number: 06222029)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

3

114

214

Other financial assets

4

660

680

 

774

894

Current assets

 

Debtors

5

3,899,156

2,041,506

Cash at bank and in hand

 

2,163,591

2,632,502

 

6,062,747

4,674,008

Creditors: Amounts falling due within one year

6

(24,986)

(466,161)

Net current assets

 

6,037,761

4,207,847

Net assets

 

6,038,535

4,208,741

Capital and reserves

 

Called up share capital

7

230

230

Retained earnings

6,038,305

4,208,511

Shareholders' funds

 

6,038,535

4,208,741

For the financial year 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 year 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.

 

Freemantle Capital Limited

(Registration number: 06222029)
Balance Sheet as at 31 March 2024

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 20 March 2025 and signed on its behalf by:
 

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

 

Freemantle Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 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.

Tax

The tax expense for the period comprises current 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.

The current income 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. 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.

 

Freemantle Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Due to the nature of the business, significant liquid levels of cash are required to be maintained to cover its current, ongoing and future obligations and opportunities as they arise. Each potential transaction can be of an individually significant sum, meaning that adequate levels of liquid funds are required to be retained.

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.

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.

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Freemantle Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Investments

2024
£

2023
£

Investments in subsidiaries

114

214

Subsidiaries

£

Cost or valuation

At 1 April 2023

214

Disposals

(100)

At 31 March 2024

114

Provision

Carrying amount

At 31 March 2024

114

At 31 March 2023

214

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Freemantle Developments Limited

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

England & Wales

Ordinary shares

100%

100%

Freemantle Developments (Homefield) Limited

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

England & Wales

Ordinary shares

100%

100%

 

Freemantle Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

Freemantle Developments (Compton Martin) Limited

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

England & Wales

Ordinary shares

100%

100%

Freemantle Capital Partners (Players Close) Limited

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

England & Wales

Ordinary shares

60%

60%

Freemantle Developments (Smallway) Limited

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

England & Wales

Ordinary shares

100%

100%

Freemantle Capital Partners (Almondsbury) Limited

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

England & Wales

Ordinary shares

0%

100%

Freemantle Capital Partners (Wellington) Limited

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

England & Wales

Ordinary shares

75%

75%

Joint ventures

Freemantle Capital Partners (Broadway) Limited

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

Ordinary shares

50%

50%

 

England & Wales

     
 

Freemantle Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

Freemantle Capital Partners (Chasefield) Limited

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

Ordinary shares

0%

50%

 

England & Wales

     

Freemantle Capital Partners (Hallen) Limited

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

Ordinary shares

50%

50%

 

England & Wales

     

Freemantle Capital Partners (Malborough) Limited

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

Ordinary shares

50%

50%

 

England & Wales

     

Freemantle Capital Partners (Hollow) Limited

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

Ordinary shares

50%

50%

 

England & Wales

     

Subsidiary undertakings

Freemantle Developments Limited

The principal activity of Freemantle Developments Limited is property development.

Freemantle Developments (Homefield) Limited

The principal activity of Freemantle Developments (Homefield) Limited is property development.

Freemantle Developments (Compton Martin) Limited

The principal activity of Freemantle Developments (Compton Martin) Limited is property development.

Freemantle Capital Partners (Players Close) Limited

The principal activity of Freemantle Capital Partners (Players Close) Limited is property development.

 

Freemantle Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Freemantle Developments (Smallway) Limited

The principal activity of Freemantle Developments (Smallway) Limited is property development.

Freemantle Capital Partners (Almondsbury) Limited

The principal activity of Freemantle Capital Partners (Almondsbury) Limited is property development.

Freemantle Capital Partners (Wellington) Limited

The principal activity of Freemantle Capital Partners (Wellington) Limited is property development.

Joint ventures

Freemantle Capital Partners (Broadway) Limited

The principal activity of Freemantle Capital Partners (Broadway) Limited is property development.

Freemantle Capital Partners (Chasefield) Limited

The principal activity of Freemantle Capital Partners (Chasefield) Limited is property development.

Freemantle Capital Partners (Hallen) Limited

The principal activity of Freemantle Capital Partners (Hallen) Limited is property development.

Freemantle Capital Partners (Malborough) Limited

The principal activity of Freemantle Capital Partners (Malborough) Limited is property development.

Freemantle Capital Partners (Hollow) Limited

The principal activity of Freemantle Capital Partners (Hollow) Limited is property development.

 

Freemantle Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

680

680

Disposals

(20)

(20)

At 31 March 2024

660

660

Impairment

Carrying amount

At 31 March 2024

660

660

5

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

1,328,995

1,394,969

Other debtors

 

2,570,161

646,537

 

3,899,156

2,041,506

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

15,108

1,125

Accruals and deferred income

894

840

Other creditors

8,984

464,196

24,986

466,161

 

Freemantle Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

230

230

230

230

         

8

Related party transactions

Loans to related parties

2024

Subsidiary
£

Joint ventures
£

Total
£

At start of period

1,394,969

-

1,394,969

Advanced

431,026

775,808

1,206,834

Repaid

(497,000)

-

(497,000)

At end of period

1,328,995

775,808

2,104,803

2023

Subsidiary
£

Joint ventures
£

Key management
£

Total
£

At start of period

2,525,058

567,238

147,958

3,240,254

Advanced

547,228

190,448

-

737,676

Repaid

(1,677,317)

(757,686)

(147,958)

(2,582,961)

At end of period

1,394,969

-

-

1,394,969

Terms of loans to related parties

All loans are interest free.
 

Loans from related parties

2024

Joint ventures
£

Key management
£

Total
£

At start of period

84,112

380,084

464,196

Advanced

265,020

348,179

613,199

Repaid

(349,132)

(719,279)

(1,068,411)

At end of period

-

8,984

8,984

 

Freemantle Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2023

Joint ventures
£

Key management
£

Total
£

Advanced

84,112

1,052,042

1,136,154

Repaid

-

(671,958)

(671,958)

At end of period

84,112

380,084

464,196

Terms of loans from related parties

All loans are interest free.