K. Freeman Holdings Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01016195

K. Freeman Holdings Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

K. Freeman Holdings Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	5		930,000		873,535

Current assets

Debtors	6	864,350	863,612
Cash at bank and in hand		311,398	426,494
		-------------	-------------
		1,175,748	1,290,106

Creditors: amounts falling due within one year	7	347,519		315,022
		-------------		-------------
Net current assets			828,229		975,084
			-------------		-------------
Total assets less current liabilities			1,758,229		1,848,619

Provisions

Taxation including deferred tax	22,412	8,296
	-------------	-------------
Net assets	1,735,817	1,840,323
	-------------	-------------

Capital and reserves

Called up share capital	475	475
Revaluat'n reserve	78,077	35,728
Capital redemption reserve	25	25
Profit and loss account	1,657,240	1,804,095
	-------------	-------------
Shareholders funds	1,735,817	1,840,323
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

K. Freeman Holdings Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

Mr R S Freeman

Director

Company registration number: 01016195

K. Freeman Holdings Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Heather Farm, Everingham, York, YO42 4JF.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Going concern

The UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it, and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.

(c) Revenue recognition

Income from rents receivable is recognised in accordance with the agreed terms of the relevant lease agreements.

Interest receivable is recognised as interest accrues using the effective interest method.

(d) Current and deferred tax

The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date .

(e) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

(f) Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

(g) Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

(h) Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

(i) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Freehold property
	£
Cost or valuation
At 1 January 2024	873,535
Revaluations	56,465
	----------
At 31 December 2024	930,000
	----------
Depreciation
At 1 January 2024 and 31 December 2024	–
	----------
Carrying amount
At 31 December 2024	930,000
	----------
At 31 December 2023	873,535
	----------

Included within the above is investment property as follows:

	£
At 1 January 2024	873,535
Fair value adjustments	56,465
	----------
At 31 December 2024	930,000
	----------

Investment properties have been valued by the director with input from an independent valuer with a recognised and relevant professional qualification and with recent experience in the location and category of the investment property being valued.

6. Debtors

	2024	2023
	£	£
Other debtors	864,350	863,612
	----------	----------

The debtors above include the following amounts falling due after more than one year:

	2024	2023
	£	£
Other debtors	113,000	113,000
	----------	----------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Accruals and deferred income	25,244	30,627
Corporation tax	25,792	19,496
Other loans	92,060	87,200
Directors loan accounts	204,423	177,699
	----------	----------
	347,519	315,022
	----------	----------

8. Related party transactions

The company was in receipt of loans from the directors during the year. Interest is paid on the loans at a commercial rate and the loans are repayable on demand. At the balance sheet date the total balance owing to the directors was £ 204,423 (2023 - £ 177,699 ).