| Freedom Association Limited(the) |
| Registered number: |
01303670 |
| Balance Sheet |
| as at 31 December 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Current assets |
| Cash at bank and in hand |
|
|
2,692 |
|
|
8,220 |
|
| Creditors: amounts falling due within one year |
3 |
|
(4,407) |
|
|
(8,372) |
|
| Net current liabilities |
|
|
|
(1,715) |
|
|
(152) |
|
| Net liabilities |
|
|
|
(1,715) |
|
|
(152) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Profit and loss account |
|
|
|
(1,715) |
|
|
(152) |
|
|
|
|
|
(1,715) |
|
|
(152) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| James Hellyer |
| Director |
| Approved by the board on 15 September 2025 |
|
| Freedom Association Limited(the) |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
|
|
| 1 |
Accounting policies |
|
|
Going concern |
|
The company has net current liabilities and a deficit on its Income and Expenditure account. By the reporting date the company had undergone a reorganisation and had reduced its fixed cost base. As a result, since the reporting date the company has enjoyed positive cashflows from its operational activities and met its debts as they fall due. Consequently the going concern accounting convention has been adopted. |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Income |
|
Income and expenses are included in the financial statements as they become receivable or payable.
Expenses include VAT where applicable as the company cannot reclaim it. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
The company is exempt from Corporation tax as it does not carry on business for the purposes of making a profit. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
5 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans and overdrafts |
- |
|
972 |
|
Taxation and social security costs |
- |
|
5,660 |
|
Other creditors |
4,407 |
|
1,740 |
|
|
|
|
|
|
4,407 |
|
8,372 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Controlling party |
|
|
The company is limited by guarantee and has no share capital; consequently there is no one individual in control of the company. |
|
|
| 5 |
Other information |
|
|
Freedom Association Limited(the) is a private company limited by guarantee and incorporated in England. Its registered office is: |
|
83 Victoria Street |
|
London |
|
SW1H 0HW |