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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
Page
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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
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Freet Footwear Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,450 
8,948 
Current assets
Inventories
352,485 
236,616 
Debtors
72,867 
150,472 
Cash at bank and in hand
384,835 
393,166 
810,187 
780,254 
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
Deferred tax
(3,612)
(834)
Net assets
677,279 
609,614 
Capital and reserves
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
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Freet Footwear Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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 taxation
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.
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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 
Depreciation
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 
Net book value
At 31 December 2024
11,339 
823 
2,288 
14,450 
At 31 December 2023
7,077 
1,719 
152 
8,948 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
17,323 
40,010 
Accrued income and prepayments
18,816 
- 
Other debtors
36,728 
110,462 
72,867 
150,472 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
14,539 
11,265 
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 
Accruals
11,532 
13,664 
143,746 
178,754 
7
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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