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REGISTERED NUMBER: 12155759 (England and Wales)










AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FREEPORT (EUROPE) LTD

FREEPORT (EUROPE) LTD (REGISTERED NUMBER: 12155759)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FREEPORT (EUROPE) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: L Han





SECRETARY: H Jiang





REGISTERED OFFICE: Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU





REGISTERED NUMBER: 12155759 (England and Wales)





AUDITORS: the dt group
Chartered Accountants & Statutory Auditors
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU

FREEPORT (EUROPE) LTD (REGISTERED NUMBER: 12155759)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 605,545
Investments 5 28,000 87,000
Investment property 6 605,545 -
633,545 692,545

CURRENT ASSETS
Stocks 8,506 -
Debtors 7 684,466 869,138
Cash at bank 155,016 23,846
847,988 892,984
CREDITORS
Amounts falling due within one year 8 919,047 1,336,325
NET CURRENT LIABILITIES (71,059 ) (443,341 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

562,486

249,204

CREDITORS
Amounts falling due after more than one
year

9

500,000

-
NET ASSETS 62,486 249,204

CAPITAL AND RESERVES
Called up share capital 10 100,000 100,000
Retained earnings (37,514 ) 149,204
SHAREHOLDERS' FUNDS 62,486 249,204

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 director and authorised for issue on 29 July 2025 and were signed by:





L Han - Director


FREEPORT (EUROPE) LTD (REGISTERED NUMBER: 12155759)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Freeport (Europe) LTD 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.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Land and buildings - not provided

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

STOCKS
Stocks 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 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.


FREEPORT (EUROPE) LTD (REGISTERED NUMBER: 12155759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. 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.

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.

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 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 January 2024 605,545
Reclassification/transfer (605,545 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 605,545

FREEPORT (EUROPE) LTD (REGISTERED NUMBER: 12155759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024 87,000
Impairments (59,000 )
At 31 December 2024 28,000
NET BOOK VALUE
At 31 December 2024 28,000
At 31 December 2023 87,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Reclassification/transfer 605,545
At 31 December 2024 605,545
NET BOOK VALUE
At 31 December 2024 605,545

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 665,789 569,030
Other debtors 18,677 300,108
684,466 869,138

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 69,655
Trade creditors 814,142 713,739
Amounts owed to group undertakings - 500,000
Taxation and social security 26,422 2,396
Other creditors 78,483 50,535
919,047 1,336,325

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 500,000 -

FREEPORT (EUROPE) LTD (REGISTERED NUMBER: 12155759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
100,000 Ordinary £1 100,000 100,000

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

The Report of the Auditors was unqualified.

Benjamin Herbert (Senior Statutory Auditor)
for and on behalf of the dt group

12. ULTIMATE CONTROLLING PARTY

The ultimate parent company at the balance sheet date is Freeport Anhui Electronics Company Limited, a company incorporated in China.

The ultimate controlling party is considered to be L Han, the majority shareholder of the ultimate parent company.