The Freedman Project LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: OC411610

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		3,934,634		3,923,191

			3,934,634		3,923,191
CURRENT ASSETS
Debtors	5	124,482		168,649
Cash at bank and in hand		599		4,214

		125,081		172,863
Creditors: Amounts Falling Due Within One Year	6	(307,825 )		(396,904 )

NET CURRENT ASSETS (LIABILITIES)			(182,744 )		(224,041 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,751,890		3,699,150

Creditors: Amounts Falling Due After More Than One Year	7		(2,400,270 )		(2,405,806 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			1,351,620		1,293,344

REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability		895,108		895,108
Other amounts		206,512		148,236

			1,101,620		1,043,344

Equity
Members' other interests
Revaluation reserve		250,000		250,000

			250,000		250,000

			1,351,620		1,293,344

...CONTINUED

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The Freedman Project LLP

Balance Sheet (continued)

As At 31 May 2024

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year	1,101,620	1,043,344
Members' other interests	250,000	250,000

	1,351,620	1,293,344

For the year ending 31 May 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Estateducation Ltd

Designated Member

19/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

The Freedman Project LLP is a limited liability partnership, incorporated in England & Wales, registered number OC411610 . The Registered Office is 86-90 Paul Street, London, EC2A 4NE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Not depreciated
Fixtures & Fittings	20% straight line

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2023: NIL)

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The Freedman Project LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2024

4. Tangible Assets

	Land & Property
	Freehold	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 June 2023	3,900,000	32,613	3,932,613
Additions	-	22,415	22,415

As at 31 May 2024	3,900,000	55,028	3,955,028

Depreciation
As at 1 June 2023	-	9,422	9,422
Provided during the period	-	10,972	10,972

As at 31 May 2024	-	20,394	20,394

Net Book Value
As at 31 May 2024	3,900,000	34,634	3,934,634

As at 1 June 2023	3,900,000	23,191	3,923,191

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	77,721	61,626
Amounts owed by participating interests	37,672	106,361
Other debtors	9,089	662

	124,482	168,649

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	8,577	4,450
Bank loans and overdrafts	5,536	5,398
Amounts owed to participating interests	284,053	378,316
Other creditors	9,659	5,308
Taxation and social security	-	3,432

	307,825	396,904

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The Freedman Project LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2024

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	2,400,270	2,405,806

Included within Creditors: Amounts falling due after one year is £2,372,500 (2023: £2,372,500) which is secured against the property held in the company.

8. Related Party Transactions

Included within debtors are amounts totalling £112,033 (2023: £106,361) owed to the partnership by other participating interests.

Included within creditors are amounts totalling £358,415 (2023: £378,316) owed by the partnership to other participating interests.

The above loans are interest free, unsecured and repayable upon demand.

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