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Company Registration No. 11144453 (England and Wales)
Freestyle TS Limited Unaudited accounts for the year ended 31 December 2024
Freestyle TS Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Freestyle TS Limited Company Information for the year ended 31 December 2024
Directors
Mr W J H Everett Mr M J Roberts
Company Number
11144453 (England and Wales)
Registered Office
Unit 2, Murrell Green Business Park London Road Hook Hampshire RG27 9GR United Kingdom
Accountants
Wulmer Associates Wulmer Cottage, Pitch Place Thursley Nr Godalming Surrey GU8 6QW
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Freestyle TS Limited Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
1,117
1,117
Current assets
Inventories
-
200,000
Debtors
5
959,467
2,616,729
Cash at bank and in hand
289,134
100,390
1,248,601
2,917,119
Creditors: amounts falling due within one year
6
(1,098,552)
(1,337,213)
Net current assets
150,049
1,579,906
Net assets
151,166
1,581,023
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
150,166
1,580,023
Shareholders' funds
151,166
1,581,023
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 4 September 2025 and were signed on its behalf by
Mr M J Roberts Director Company Registration No. 11144453
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Freestyle TS Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Freestyle TS Limited is a private company, limited by shares, registered in England and Wales, registration number 11144453. The registered office is Unit 2, Murrell Green Business Park, London Road, Hook, Hampshire, RG27 9GR, United Kingdom.
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
20%
Fixtures & fittings
20%
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.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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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Freestyle TS Limited Notes to the Accounts for the year ended 31 December 2024
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 January 2024
49,995
27,314
77,309
At 31 December 2024
49,995
27,314
77,309
Depreciation
At 1 January 2024
49,256
26,936
76,192
At 31 December 2024
49,256
26,936
76,192
Net book value
At 31 December 2024
739
378
1,117
At 31 December 2023
739
378
1,117
5
Debtors
2024
2023
£
£
Amounts falling due within one year
VAT
7,909
17,707
Trade debtors
942,275
872,844
Amounts due from group undertakings etc.
-
1,717,873
Accrued income and prepayments
9,283
8,305
959,467
2,616,729
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
499,557
918,946
Amounts owed to group undertakings and other participating interests
169,764
-
Taxes and social security
355,785
365,936
Other creditors
5,881
20,737
Accruals
67,565
31,594
1,098,552
1,337,213
7
Controlling party
The immediate parent undertaking of the company at 31 December 2024 is Freestyle ITS Holdings Limited, a company registered in England and Wales. The ultimate parent undertaking of the company at 31 December 2024 is Freestyle Employee Ownership Trustee Limited, also registered in England and Wales.
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Freestyle TS Limited Notes to the Accounts for the year ended 31 December 2024
8
Average number of employees
During the year the average number of employees was 20 (2023: 20).
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