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REGISTERED NUMBER: 04991066 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FREEDOM MOTOR CYCLES LTD

FREEDOM MOTOR CYCLES LTD (REGISTERED NUMBER: 04991066)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


FREEDOM MOTOR CYCLES LTD (REGISTERED NUMBER: 04991066)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 157,798 158,727

CURRENT ASSETS
Stocks 669,468 680,632
Debtors 5 22,289 22,497
Cash in hand 2,870 1,964
694,627 705,093
CREDITORS
Amounts falling due within one year 6 208,035 260,855
NET CURRENT ASSETS 486,592 444,238
TOTAL ASSETS LESS CURRENT
LIABILITIES

644,390

602,965

PROVISIONS FOR LIABILITIES 1,370 1,546
NET ASSETS 643,020 601,419

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 643,018 601,417
SHAREHOLDERS' FUNDS 643,020 601,419

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FREEDOM MOTOR CYCLES LTD (REGISTERED NUMBER: 04991066)

BALANCE SHEET - continued
31 DECEMBER 2024


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 20 May 2025 and were signed on its behalf by:




Mr M Spies - Director



Mr R Spies - Director


FREEDOM MOTOR CYCLES LTD (REGISTERED NUMBER: 04991066)

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


1. STATUTORY INFORMATION

Freedom Motor Cycles Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04991066

Registered office: Mill View
March
Cambridgeshire
PE15 8SY

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
Turnover represents the net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Improvements to property - 10% on cost
Plant & equipment - 15% on reducing balance
Office & computer equipment - 20% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.


FREEDOM MOTOR CYCLES LTD (REGISTERED NUMBER: 04991066)

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 balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant &
property property equipment
£    £    £   
COST
At 1 January 2024 150,590 29,246 59,802
Additions - - 417
At 31 December 2024 150,590 29,246 60,219
DEPRECIATION
At 1 January 2024 - 29,246 52,922
Charge for year - - 1,037
At 31 December 2024 - 29,246 53,959
NET BOOK VALUE
At 31 December 2024 150,590 - 6,260
At 31 December 2023 150,590 - 6,880

FREEDOM MOTOR CYCLES LTD (REGISTERED NUMBER: 04991066)

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


4. TANGIBLE FIXED ASSETS - continued

Office &
computer Motor
equipment vehicles Totals
£    £    £   
COST
At 1 January 2024 6,278 23,058 268,974
Additions - - 417
At 31 December 2024 6,278 23,058 269,391
DEPRECIATION
At 1 January 2024 5,580 22,499 110,247
Charge for year 169 140 1,346
At 31 December 2024 5,749 22,639 111,593
NET BOOK VALUE
At 31 December 2024 529 419 157,798
At 31 December 2023 698 559 158,727

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 22,289 22,497

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 38,797 141,739
Trade creditors 113,917 78,318
Taxation and social security 12,170 6,296
Other creditors 43,151 34,502
208,035 260,855

7. TRANSACTIONS WITH DIRECTORS

Included in other creditors falling due within one year is £11,902 (2023 - £11,902) in respect of loans from the directors. These loans are non-interest bearing and have no fixed date for repayment.