REGISTERED NUMBER: 01205736 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FREEMAN, VOLKERS & STUART LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs A Preston MBE

Mr J R Godwin

Mr J D Preston

SECRETARY:

Mrs A Preston MBE

REGISTERED OFFICE:

Church Road

Stockton on Tees

TS18 2LY

REGISTERED NUMBER:

01205736 (England and Wales)

SENIOR STATUTORY AUDITOR:

Jemma Hoggard FCA

AUDITORS:

Baines Jewitt Limited

Statutory Auditors

Spitfire House

19 Falcon Court

Preston Farm Industrial Estate

Stockton-on-Tees

TS18 3TU

BANKERS:

HSBC

PO Box 117

60 Albert Road

Middlesbrough

TS1 1RS

FIXED ASSETS

Tangible assets

4

14,737

18,422

CURRENT ASSETS

Debtors

5

752,660

761,753

Cash at bank and in hand

8,144

8,346

760,804

770,099

CREDITORS

Amounts falling due within one year

6

40,136

48,569

NET CURRENT ASSETS

720,668

721,530

TOTAL ASSETS LESS CURRENT LIABILITIES

735,405

739,952

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

735,403

739,950

SHAREHOLDERS' FUNDS

735,405

739,952

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 11 September 2025 and were signed on its behalf by:

Mrs A Preston MBE - Director

1.	STATUTORY INFORMATION

Freeman, Volkers & Stuart 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.

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 the amount derived from transport services excluding value added tax, trade discounts and other sales taxes. Revenue is recognised on the date that the service is provided.

Tangible fixed assets

Depreciation is provided to write down the cost of all tangible fixed assets over their expected useful lives. The rates applicable are as follows:

Plant & machinery

15% on the reducing balance

Motor vehicles

Lorries

17.5% of the cost for the first four years,

the remaining balance at the end of the

fourth year at 20% on the reducing balance

Trailers

12.5% of the cost for the first five years,

the remaining balance at the end of the

fifth year at 20% on the reducing balance.

Other motor vehicles

25% on the reducing balance.

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.

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 9 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

667,587

DEPRECIATION

At 1 January 2024

649,165

Charge for year

3,685

At 31 December 2024

652,850

NET BOOK VALUE

At 31 December 2024

14,737

At 31 December 2023

18,422

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

747,875

754,006

Other debtors

4,785

7,747

752,660

761,753

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

2,988

Taxation and social security

17,275

22,030

Other creditors

22,861

23,551

40,136

48,569

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

The Report of the Auditors was unqualified.

Jemma Hoggard FCA (Senior Statutory Auditor)

for and on behalf of Baines Jewitt Limited

8.	CONTINGENT LIABILITIES

There is a cross guarantee and debenture between the company and its parent company, Richard Preston and Son Limited. That company has a secured bank overdraft of £nil at 31 December 2024.

9.	ULTIMATE PARENT COMPANY

The company's immediate parent company is Richard Preston & Son Limited which is incorporated in England and Wales.

The ultimate parent company, which draws up the financial statements for the group, is Potto Group Limited, a company incorporated in England and Wales. The consolidated financial statements can be obtained from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.

10.	PENSION COMMITMENTS

Amounts payable in relation to pension contributions as at 31 December 2024 amounted to £160 (2023: £429).