Company Registration No. 09455817 (England and Wales)
Freet Footwear Ltd
Unaudited accounts
for the year ended 31 December 2024
Freet Footwear Ltd
Unaudited accounts
Contents
Freet Footwear Ltd
Company Information
for the year ended 31 December 2024
Directors
SJ Jackson
AG Jackson
Company Number
09455817 (England and Wales)
Registered Office
16 High Garth
Richmond
North Yorkshire
DL10 4DG
Accountants
Pearson & Associates
Suite E, Canal Wharf
Eshton Road
Gargrave, Skipton
North Yorkshire
BD23 3SE
Freet Footwear Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
14,450
8,948
Inventories
352,485
236,616
Cash at bank and in hand
384,835
393,166
Creditors: amounts falling due within one year
(143,746)
(178,754)
Net current assets
666,441
601,500
Total assets less current liabilities
680,891
610,448
Provisions for liabilities
Net assets
677,279
609,614
Called up share capital
10
10
Profit and loss account
677,269
609,604
Shareholders' funds
677,279
609,614
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2025 and were signed on its behalf by
SJ Jackson
Director
Company Registration No. 09455817
Freet Footwear Ltd
Notes to the Accounts
for the year ended 31 December 2024
Freet Footwear Ltd is a private company, limited by shares, registered in England and Wales, registration number 09455817. The registered office is 16 High Garth, Richmond, North Yorkshire, DL10 4DG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% on Cost
Fixtures & fittings
33% on Cost
Computer equipment
33% on Cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Freet Footwear Ltd
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
33,229
5,217
5,300
43,746
Additions
11,271
183
3,510
14,964
At 31 December 2024
44,500
5,400
8,810
58,710
At 1 January 2024
26,152
3,498
5,148
34,798
Charge for the year
7,009
1,079
1,374
9,462
At 31 December 2024
33,161
4,577
6,522
44,260
At 31 December 2024
11,339
823
2,288
14,450
At 31 December 2023
7,077
1,719
152
8,948
Amounts falling due within one year
Trade debtors
17,323
40,010
Accrued income and prepayments
18,816
-
Other debtors
36,728
110,462
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
41,696
66,142
Taxes and social security
71,393
62,939
Other creditors
4,293
19,962
Loans from directors
293
4,782
7
Average number of employees
During the year the average number of employees was 5 (2023: 5).