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REGISTERED NUMBER: 02768277 (England and Wales)









Financial Statements

for the Year Ended 30 June 2024

for

Free Association Books Limited

Free Association Books Limited (Registered number: 02768277)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Free Association Books Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A O Solomons
E F Brown
A N V Brown
M C V Brown





SECRETARY: E A Brown





REGISTERED OFFICE: c/o Parker Cavendish, Suite 301,
Stanmore Business and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW





REGISTERED NUMBER: 02768277 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
Suite 301, Stanmore Business
and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW

Free Association Books Limited (Registered number: 02768277)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 - -
Investments 6 419,673 1,289,459
419,673 1,289,459

CURRENT ASSETS
Inventories 13,860 -
Debtors 7 581 -
Cash at bank 653,035 378,520
667,476 378,520
CREDITORS
Amounts falling due within one year 8 240,929 131,689
NET CURRENT ASSETS 426,547 246,831
TOTAL ASSETS LESS CURRENT
LIABILITIES

846,220

1,536,290

PROVISIONS FOR LIABILITIES - 34,770
NET ASSETS 846,220 1,501,520

CAPITAL AND RESERVES
Called up share capital 558,200 558,200
Share premium 19,700 19,700
Retained earnings 268,320 923,620
SHAREHOLDERS' FUNDS 846,220 1,501,520

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.

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 26 June 2025 and were signed on its behalf by:



A O Solomons - Director


Free Association Books Limited (Registered number: 02768277)

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

1. STATUTORY INFORMATION

Free Association Books 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year/period, and also have been consistently applied within the same accounts.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 20% on cost
Fixtures and fittings - 33.33% on cost

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

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 statement of financial position date.

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.

3. EMPLOYEES AND DIRECTORS

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

Free Association Books Limited (Registered number: 02768277)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 8,450
AMORTISATION
At 1 July 2023
and 30 June 2024 8,450
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant & and
machinery fittings Totals
£    £    £   
COST
At 1 July 2023 8,450 55,904 64,354
Additions 37,000 - 37,000
Disposals (37,000 ) - (37,000 )
At 30 June 2024 8,450 55,904 64,354
DEPRECIATION
At 1 July 2023 8,450 55,904 64,354
Charge for year 3,700 - 3,700
Eliminated on disposal (3,700 ) - (3,700 )
At 30 June 2024 8,450 55,904 64,354
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 - - -

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 July 2023 1,289,459
Additions 409,749
Disposals (762,095 )
Revaluations (380,440 )
Impairments (137,000 )
At 30 June 2024 419,673
NET BOOK VALUE
At 30 June 2024 419,673
At 30 June 2023 1,289,459

Free Association Books Limited (Registered number: 02768277)

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

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 June 2024 is represented by:

Other
investments
£   
Valuation in 2022 205,621
Valuation in 2023 (22,618 )
Valuation in 2024 (563,443 )
Cost 800,113
419,673

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 581 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to associates 5,797 5,797
Taxation and social security - (20 )
Other creditors 235,132 125,912
240,929 131,689

9. RETAINED EARNINGS

The retained earnings of £268,320 (2023: £923,620) comprise of distributable reserves of £465,757 (2023: £775,387) and non-distributable reserves of £-197,437 (2023: £148,233) which relate to property revaluations less related deferred tax provision.

10. CONTINGENT LIABILITIES

During the year, the company acquired and launched a cookware product line under the Emba Cookware brand. Due to a potential product issue identified after launch, the entire product range was subsequently recalled. As of the date of approval of these financial statements, no formal legal claims have been received. The company has received some customer feedback in relation to the recall, including informal references to potential legal action. Management continues to monitor the situation and is not aware of any wider exposure beyond the matters currently being managed.