Registered number
12286877
Freedomhunters Ltd
Filleted Accounts
31 October 2024
Freedomhunters Ltd
Registered number: 12286877
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 177,426 106,728
Current assets
Cash at bank and in hand 5,644 17,194
Creditors: amounts falling due within one year 4 (79,991) (48,302)
Net current liabilities (74,347) (31,108)
Total assets less current liabilities 103,079 75,620
Creditors: amounts falling due after more than one year 5 (166,662) (115,600)
Net liabilities (63,583) (39,980)
Capital and reserves
Called up share capital 2 2
Profit and loss account (63,585) (39,982)
Shareholders' funds (63,583) (39,980)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Simon Jessett
Director
Approved by the board on 17 April 2025
Freedomhunters Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvements to property 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Improvements to property Total
£ £ £
Cost
At 1 November 2023 80,000 40,943 120,943
Additions 65,000 16,507 81,507
At 31 October 2024 145,000 57,450 202,450
Depreciation
At 1 November 2023 - 14,215 14,215
Charge for the year - 10,809 10,809
At 31 October 2024 - 25,024 25,024
Net book value
At 31 October 2024 145,000 32,426 177,426
At 31 October 2023 80,000 26,728 106,728
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 79,991 48,302
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 166,662 115,600
6 Other information
Freedomhunters Ltd is a private company limited by shares and incorporated in England. Its registered office is:
34 Oxborne Parc
Helston
Cornwall
TR13 8PA
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