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FREELANCE SURGICAL LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






FREELANCE SURGICAL LIMITED (REGISTERED NUMBER: 04039065)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


FREELANCE SURGICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: S R Fletcher
G C Sporri





REGISTERED OFFICE: Unit 7 Havyatt Business Park
Havyatt Road
Wrington
Somerset
BS40 5PA





REGISTERED NUMBER: 04039065 (England and Wales)





AUDITORS: Nyman Libson Paul LLP
Chartered Accountants
124 Finchley Road
London
NW3 5JS

FREELANCE SURGICAL LIMITED (REGISTERED NUMBER: 04039065)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 273,542 316,558
273,542 316,558

CURRENT ASSETS
Stocks 6 1,694,748 1,841,898
Debtors 7 753,513 848,730
Cash at bank and in hand 4,190,640 2,347,753
6,638,901 5,038,381
CREDITORS
Amounts falling due within one year 8 1,153,135 1,025,053
NET CURRENT ASSETS 5,485,766 4,013,328
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,759,308

4,329,886

PROVISIONS FOR LIABILITIES 10 66,543 76,796
NET ASSETS 5,692,765 4,253,090

CAPITAL AND RESERVES
Called up share capital 64 64
Capital redemption reserve 36 36
Retained earnings 5,692,665 4,252,990
SHAREHOLDERS' FUNDS 5,692,765 4,253,090

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 May 2025 and were signed on its behalf by:




S R Fletcher - Director



G C Sporri - Director


FREELANCE SURGICAL LIMITED (REGISTERED NUMBER: 04039065)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Freelance Surgical Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue represents amounts chargeable to clients for goods or professional services provided during the year, net of any sales tax. Where invoices are issued in advance for services, revenue is recognised once that service has been provided. Services to clients, which at the balance sheet date have not been billed, have been recognised as revenue.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - written off over 15 years on cost
Equipment & fixtures - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

At each reporting date stock is assessed for impairment. If stock is impaired the carrying amount is reduced to selling price less costs to sell. The impairment loss is recognised immediately in profit and loss.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the company's cash management.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


FREELANCE SURGICAL LIMITED (REGISTERED NUMBER: 04039065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The accounts have been prepared on the going concern basis. The business is currently profitable, there are no issues relating to cash flow, and it is anticipated that this will continue to be the case for the foreseeable future.

Functional and presentational currency
The company's functional and presentational currency is GBP.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 January 2024
and 31 December 2024 30,095
AMORTISATION
At 1 January 2024
and 31 December 2024 30,095
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

FREELANCE SURGICAL LIMITED (REGISTERED NUMBER: 04039065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. TANGIBLE FIXED ASSETS
Leasehold Equipment
improvements & fixtures Totals
£    £    £   
COST
At 1 January 2024 96,983 483,069 580,052
Additions - 9,168 9,168
At 31 December 2024 96,983 492,237 589,220
DEPRECIATION
At 1 January 2024 80,357 183,137 263,494
Charge for year 5,004 47,180 52,184
At 31 December 2024 85,361 230,317 315,678
NET BOOK VALUE
At 31 December 2024 11,622 261,920 273,542
At 31 December 2023 16,626 299,932 316,558

6. STOCKS
2024 2023
£    £   
Stocks 1,694,748 1,841,898

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 700,796 789,163
Other debtors - 348
Prepayments 52,717 59,219
753,513 848,730

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 486,960 674,854
Tax 230,028 50,542
Social security and other taxes 19,330 12,835
VAT 270,344 268,893
Other creditors - 5,492
Accruals 146,473 12,437
1,153,135 1,025,053

FREELANCE SURGICAL LIMITED (REGISTERED NUMBER: 04039065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 71,295 93,469
Between one and five years 76,277 98,076
147,572 191,545

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 66,543 76,796

Deferred
tax
£   
Balance at 1 January 2024 76,796
Credit to Income Statement during year (10,253 )
Balance at 31 December 2024 66,543

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Hetal Mistry (Senior Statutory Auditor)
for and on behalf of Nyman Libson Paul LLP

12. RELATED PARTY DISCLOSURES

The company is exempt from disclosing other related party transactions as they are with companies that are wholly owed within the group.

13. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its parent company, Vimian Group AB.

14. DIRECTORS' EMOLUMENTS


Year ended
31.12.24
Year ended
31.12.23
£ £
Directors' remuneration 90,000 90,000
Directors' pension contributions to money purchase schemes 3,606 3,500