ACCOUNTS - Final Accounts

Registered number: 05904799

FREEWOODS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FREEWOODS LIMITED

REGISTERED NUMBER: 05904799

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
		£		£

Fixed assets
Tangible assets	4		1,246		1,661
			1,246		1,661
Current assets
Debtors: amounts falling due within one year	5	29,166		27,514
Cash at bank and in hand	6	130,013		112,219
		159,179		139,733
Creditors: amounts falling due within one year	7	(29,113)		(37,320)
Net current assets			130,066		102,413
Total assets less current liabilities			131,312		104,074
Provisions for liabilities
Deferred tax	8	(311)		(415)
			(311)		(415)
Net assets			131,001		103,659

Capital and reserves
Called up share capital	9	100	100
Profit and loss account		130,901	103,559
		131,001	103,659

Page 1

FREEWOODS LIMITED

REGISTERED NUMBER: 05904799

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................ Mr P Woods	................................................ Mr E Freemantle
Director	Director

Date: 21 November 2025	Date:21 November 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

FREEWOODS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Freewoods Limited (the 'Company') is a limited liability company incorporated and domiciled in England and Wales.

The registered office of the business is 8 King Edward Street, Oxford, OX1 4HL. The company's registered number is 05904799.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

FREEWOODS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

FREEWOODS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Office equipment	-	25% reducing balance
				Computer equipment	-	25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Page 5

FREEWOODS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 9 (2024 - 9).

4.	Tangible fixed assets

	Office equipment	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 April 2024	11,228	1,100	12,328
At 31 March 2025	11,228	1,100	12,328
Depreciation
At 1 April 2024	9,915	752	10,667
Charge for the year on owned assets	328	87	415
At 31 March 2025	10,243	839	11,082
Net book value
At 31 March 2025	985	261	1,246
At 31 March 2024	1,313	348	1,661

Debtors

					2025	2024
					£	£


Prepayments and accrued income	29,166	27,514
	29,166	27,514

Page 6

FREEWOODS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	130,013	112,219
	130,013	112,219

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Corporation tax	23,343	21,478
Other taxation and social security	2,074	2,177
Other creditors	446	10,570
Accruals and deferred income	3,250	3,095
	29,113	37,320

8.	Deferred taxation

	2025	2024
	£	£

At beginning of year	(415)	(561)
Charged to profit or loss	104	146
At end of year	(311)	(415)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

	Accelerated capital allowances	(311)	(415)
		(311)	(415)

Page 7

FREEWOODS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

100 (2024 - 100) Ordinary shares of £1 each shares of £1.00 each	100	100

10.	Pension commitments

The Company contributes into a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £24,263 (2024 - £20,923). Contributions totalling £182 (2024 - £219) were payable to the fund at the balance sheet date and are included in creditors.

11.	Related party transactions
	At the balance sheet date, included in creditors within one year was an amount of £264 (2024 - £10,350) owed to the directors. These amounts are interest free with no fixed date for repayment.

12.	Controlling party

The ultimate controlling parties of the company are Mr E Freemantle and Mr P Woods, both directors and equal shareholders of the company.

Page 8