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REGISTERED NUMBER: 04293320 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

FREELAND SCIENTIFIC LIMITED

FREELAND SCIENTIFIC LIMITED (REGISTERED NUMBER: 04293320)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FREELAND SCIENTIFIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: G Longmuir
P H Thornton





SECRETARY: G Longmuir





REGISTERED OFFICE: Rosedale Nursery
College Road
Hextable
Kent
BR8 7LT





REGISTERED NUMBER: 04293320 (England and Wales)





AUDITORS: D.R.E. & Co. (Audit) Limited
7 Lower Brook Street
Oswestry
Shropshire
SY11 2HG

FREELAND SCIENTIFIC LIMITED (REGISTERED NUMBER: 04293320)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 5,020 10,133

CURRENT ASSETS
Stocks 64,787 60,094
Debtors 6 39,544 35,894
Cash at bank 6,624 -
110,955 95,988
CREDITORS
Amounts falling due within one year 7 66,259 129,325
NET CURRENT ASSETS/(LIABILITIES) 44,696 (33,337 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,716

(23,204

)

CREDITORS
Amounts falling due after more than one
year

8

548,852

475,852
NET LIABILITIES (499,136 ) (499,056 )

CAPITAL AND RESERVES
Called up share capital 2 2
Capital redemption reserve 1 1
Retained earnings (499,139 ) (499,059 )
(499,136 ) (499,056 )

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 17 June 2025 and were signed on its behalf by:





G Longmuir - Director


FREELAND SCIENTIFIC LIMITED (REGISTERED NUMBER: 04293320)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Freeland Scientific 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The accounts are for the individual entity only.

These financial statements are presented in (£) sterling, rounded to the nearest £1.

Going concern
The financial statements have been prepared under the going concern basis on the expectation that the company shall continue to operate for the foreseeable future and due to the continued support of the group and those involved.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition, as follows:

Raw materials and consumables - purchase cost on a first in, first out basis
Finished goods - cost of direct materials and labour

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.


FREELAND SCIENTIFIC LIMITED (REGISTERED NUMBER: 04293320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. 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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 23,733
Additions 664
Reclassification/transfer (4,070 )
At 30 September 2024 20,327
DEPRECIATION
At 1 October 2023 13,600
Charge for year 2,894
Reclassification/transfer (1,187 )
At 30 September 2024 15,307
NET BOOK VALUE
At 30 September 2024 5,020
At 30 September 2023 10,133

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 24,276 30,281
Other debtors 15,268 5,613
39,544 35,894

FREELAND SCIENTIFIC LIMITED (REGISTERED NUMBER: 04293320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts - 60,530
Trade creditors 50,056 47,094
Taxation and social security 8,378 9,047
Other creditors 7,825 12,654
66,259 129,325

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Other creditors 548,852 475,852

9. SECURED DEBTS

The company's bankers hold a debenture including a fixed charge over all freehold and leasehold property including fixtures and fittings, fixed plant and machinery and books and other debts, all securities and trade debts; along with a floating charge over all other assets.

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

The Report of the Auditors was unqualified.

Aled Davies FCCA (Senior Statutory Auditor)
for and on behalf of D.R.E. & Co. (Audit) Limited

11. RELATED PARTY DISCLOSURES

The company has been provided a loan from Freeland (UK) Ltd, a company which holds a 50% shareholding.
They were advanced a further £73,000 during the year. The balance due as at 30 September 2024 was £454,590 (2023: £381,590).

12. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by Mr G Longmuir by virtue of their beneficial holding.