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Registration number: 3698044

The Freehold Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

The Freehold Group Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

The Freehold Group Limited

Company Information

Directors

R Steinhouse

J Jackson-Shilling

A Steinhouse

Company secretary

S Whybrow

Registered office

Leavesden Park
Suite 1
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

Accountants

Landmark Accountants Limited Leavesden Park
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

 

The Freehold Group Limited

(Registration number: 3698044)
Balance Sheet as at 31 October 2024

Note

2024

2023

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

12,600

 

8,358

Investments

5

 

157,747

 

157,747

   

170,347

 

166,105

Current assets

   

 

Debtors

6

6,820,465

 

4,723,625

 

Cash at bank and in hand

 

196,032

 

457,910

 

 

7,016,497

 

5,181,535

 

Creditors: Amounts falling due within one year

7

(4,847,741)

 

(3,013,314)

 

Net current assets

   

2,168,756

 

2,168,221

Total assets less current liabilities

   

2,339,103

 

2,334,326

Provisions for liabilities

 

(3,150)

 

(2,090)

Net assets

   

2,335,953

 

2,332,236

Capital and reserves

   

 

Called up share capital

1,750,000

 

1,750,000

 

Profit and loss account

585,953

 

582,236

 

Total equity

   

2,335,953

 

2,332,236

For the financial year ending 31 October 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 and delivered in accordance with the special 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 21 May 2025 and signed on its behalf by:
 

 

The Freehold Group Limited

(Registration number: 3698044)
Balance Sheet as at 31 October 2024

.........................................
R Steinhouse
Director

 

The Freehold Group Limited

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

1

General information

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

The address of its registered office is:
Leavesden Park
Suite 1
5 Hercules Way
Watford
Hertfordshire
WD25 7GS
United Kingdom

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 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.

The financial statements are presented in sterling, which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

Tax

The tax expense for the period comprises tax together with the value of tax losses surrendered or relieved as appropriate, charged on a £1 for £1 basis. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

The Freehold Group Limited

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

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Straight line method

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.

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 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.

 

The Freehold Group Limited

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

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
 Recognition and measurement
Basic financial instruments are recognised at amortised cost.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

The Freehold Group Limited

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

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 November 2023

9,748

9,748

Additions

6,928

6,928

At 31 October 2024

16,676

16,676

Depreciation

At 1 November 2023

1,390

1,390

Charge for the year

2,686

2,686

At 31 October 2024

4,076

4,076

Carrying amount

At 31 October 2024

12,600

12,600

At 31 October 2023

8,358

8,358

5

Investments

2024
£

2023
£

Investments in subsidiaries

521

521

Other investments

157,226

157,226

157,747

157,747

Subsidiaries

£

Cost or valuation

At 1 November 2023

521

Carrying amount

At 31 October 2024

521

At 31 October 2023

521



 

 

The Freehold Group Limited

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

Other investments

£

Cost

At 1 November 2023

157,226

At 31 October 2024

157,226

Carrying amount

At 31 October 2024

157,226

At 31 October 2023

157,226

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

5,975

4,325

Amounts owed by group undertakings

8

6,204,464

4,005,085

Other debtors

 

602,786

706,110

Prepayments

 

7,240

8,105

   

6,820,465

4,723,625

Less non-current portion

 

(50,000)

(50,000)

 

6,770,465

4,673,625

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings

8

4,139,206

2,640,643

Other creditors

 

708,535

372,671

 

4,847,741

3,013,314

 

The Freehold Group Limited

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

8

Related party transactions

The company has taken advantage of the exemption under FRS 102 Section 1AC.35 from disclosing transactions with other companies wholly owned within the group.

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Loan to director (interest charged at 2% and 2.25% and is repayable on demand)

-

1,426,718

(1,426,718)

-