IRIS Accounts Production v25.1.4.42 05150824 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh051508242023-06-30051508242024-06-30051508242023-07-012024-06-30051508242022-06-30051508242022-07-012023-06-30051508242023-06-3005150824ns15:EnglandWales2023-07-012024-06-3005150824ns14:PoundSterling2023-07-012024-06-3005150824ns10:Director12023-07-012024-06-3005150824ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3005150824ns10:SmallEntities2023-07-012024-06-3005150824ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3005150824ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3005150824ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3005150824ns10:FullAccounts2023-07-012024-06-3005150824ns10:Director22023-07-012024-06-3005150824ns10:CompanySecretary12023-07-012024-06-3005150824ns10:RegisteredOffice2023-07-012024-06-3005150824ns5:CurrentFinancialInstruments2024-06-3005150824ns5:CurrentFinancialInstruments2023-06-3005150824ns5:Non-currentFinancialInstruments2024-06-3005150824ns5:Non-currentFinancialInstruments2023-06-3005150824ns5:ShareCapital2024-06-3005150824ns5:ShareCapital2023-06-3005150824ns5:RetainedEarningsAccumulatedLosses2024-06-3005150824ns5:RetainedEarningsAccumulatedLosses2023-06-3005150824ns5:FurnitureFittings2023-07-012024-06-3005150824ns5:MotorVehicles2023-07-012024-06-3005150824ns5:ComputerEquipment2023-07-012024-06-3005150824ns5:PlantMachinery2023-06-3005150824ns5:FurnitureFittings2023-06-3005150824ns5:MotorVehicles2023-06-3005150824ns5:ComputerEquipment2023-06-3005150824ns5:PlantMachinery2023-07-012024-06-3005150824ns5:PlantMachinery2024-06-3005150824ns5:FurnitureFittings2024-06-3005150824ns5:MotorVehicles2024-06-3005150824ns5:ComputerEquipment2024-06-3005150824ns5:PlantMachinery2023-06-3005150824ns5:FurnitureFittings2023-06-3005150824ns5:MotorVehicles2023-06-3005150824ns5:ComputerEquipment2023-06-3005150824ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-3005150824ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-07-012024-06-3005150824ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-06-3005150824ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-3005150824ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3005150824ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3005150824ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-06-3005150824ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-06-3005150824ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-06-3005150824ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-06-3005150824ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-06-3005150824ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-06-3005150824ns5:HirePurchaseContracts2024-06-3005150824ns5:HirePurchaseContracts2023-06-3005150824ns5:WithinOneYear2024-06-3005150824ns5:WithinOneYear2023-06-3005150824ns5:BetweenOneFiveYears2024-06-3005150824ns5:BetweenOneFiveYears2023-06-3005150824ns5:AllPeriods2024-06-3005150824ns5:AllPeriods2023-06-30051508241ns10:Director12023-06-30051508241ns10:Director12022-06-30051508241ns10:Director12023-07-012024-06-30051508241ns10:Director12022-07-012023-06-30051508241ns10:Director12024-06-30051508241ns10:Director12023-06-30
REGISTERED NUMBER: 05150824 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

Freeman Solutions Limited

Freeman Solutions Limited (Registered number: 05150824)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Freeman Solutions Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A M Freeman
Mrs J Freeman





SECRETARY: Mrs J Freeman





REGISTERED OFFICE: 20 Allerton Grange Gardens
Moortown
Leeds
West Yorkshire
LS17 6LL





REGISTERED NUMBER: 05150824 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

Freeman Solutions Limited (Registered number: 05150824)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 86,024 91,898

CURRENT ASSETS
Stocks 92,625 44,945
Debtors 5 434,630 439,179
Cash at bank and in hand 65,134 194,004
592,389 678,128
CREDITORS
Amounts falling due within one year 6 131,943 182,322
NET CURRENT ASSETS 460,446 495,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

546,470

587,704

CREDITORS
Amounts falling due after more than one year 7 (37,598 ) (21,594 )

PROVISIONS FOR LIABILITIES (4,325 ) (17,461 )
NET ASSETS 504,547 548,649

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 504,545 548,647
SHAREHOLDERS' FUNDS 504,547 548,649

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Freeman Solutions Limited (Registered number: 05150824)

Balance Sheet - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 June 2025 and were signed on its behalf by:





A M Freeman - Director


Freeman Solutions Limited (Registered number: 05150824)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Freeman Solutions 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
Turnover comprises the value of sales (excluding VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when the goods are despatched, which is the same day on which the goods are delivered and hence is the point at which the risks and rewards of ownership pass to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Financial instruments
Basic financial instruments are recognised at amortised costs. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Freeman Solutions Limited (Registered number: 05150824)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 66,984 31,210 75,161 18,822 192,177
Additions 8,779 - 36,600 - 45,379
Disposals - (17,598 ) (50,671 ) (6,793 ) (75,062 )
At 30 June 2024 75,763 13,612 61,090 12,029 162,494
DEPRECIATION
At 1 July 2023 18,855 21,155 44,962 15,307 100,279
Charge for year 8,536 1,734 10,603 3,016 23,889
Eliminated on disposal - (14,621 ) (26,284 ) (6,793 ) (47,698 )
At 30 June 2024 27,391 8,268 29,281 11,530 76,470
NET BOOK VALUE
At 30 June 2024 48,372 5,344 31,809 499 86,024
At 30 June 2023 48,129 10,055 30,199 3,515 91,898

Freeman Solutions Limited (Registered number: 05150824)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 25,091
Additions 36,600
Disposals (25,091 )
At 30 June 2024 36,600
DEPRECIATION
At 1 July 2023 17,152
Charge for year 9,150
Eliminated on disposal (17,152 )
At 30 June 2024 9,150
NET BOOK VALUE
At 30 June 2024 27,450
At 30 June 2023 7,939

5. DEBTORS
30.6.24 30.6.23
£    £   
Amounts falling due within one year:
Trade debtors 143,460 142,520
Other debtors 231,879 244,153
375,339 386,673

Amounts falling due after more than one year:
Other debtors 59,291 52,506

Aggregate amounts 434,630 439,179

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 9,363 9,973
Hire purchase contracts (see note 8) 4,811 7,424
Trade creditors 27,430 28,185
Taxation and social security 19,583 87,485
Other creditors 70,756 49,255
131,943 182,322

Freeman Solutions Limited (Registered number: 05150824)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 12,231 21,594
Hire purchase contracts (see note 8) 25,367 -
37,598 21,594

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.24 30.6.23
£    £   
Net obligations repayable:
Within one year 4,811 7,424
Between one and five years 25,367 -
30,178 7,424

Non-cancellable operating leases
30.6.24 30.6.23
£    £   
Within one year 16,125 11,825
Between one and five years 16,125 3,942
32,250 15,767

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
A M Freeman
Balance outstanding at start of year 167,205 159,879
Amounts advanced 20,104 44,326
Amounts repaid - (37,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 187,309 167,205

Interest is charged on overdrawn loan accounts at the official rate.