Freddie Gover Limited

Contents

Statement of financial position	1
Notes to the Unaudited Financial Statements	2 to 7

Freddie Gover Limited

(Registration number: 08044397)
Statement of financial position as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	229,006	269,859
Current assets
Stocks	5	397,391	270,394
Debtors	6	26,403	68,796
Cash at bank and in hand		32,533	7,765
		456,327	346,955
Creditors: Amounts falling due within one year	7	(221,699)	(131,668)
Net current assets		234,628	215,287
Total assets less current liabilities		463,634	485,146
Creditors: Amounts falling due after more than one year	7	(5,775)	(22,036)
Provisions for liabilities		(15,850)	(17,894)
Net assets		442,009	445,216
Capital and reserves
Called up share capital	8	100	100
Retained earnings		441,909	445,116
Shareholders' funds		442,009	445,216

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income statement.

Approved and authorised by the director on 7 October 2025
 

......................................... Mr S G Gover Director

Freddie Gover Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Old Stables
Crutchfield Lane
Hookwood
Surrey
RH6 0HT

These financial statements were authorised for issue by the director on 7 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Freddie Gover Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% on a reducing balance basis
Fixtures, fittings and equipment	25% on a reducing balance basis
Land and buildings	Buildings are depreciated over 50 years with no depreciation on land

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Freddie Gover Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2024 - 6).

Freddie Gover Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 May 2024	185,842	94,540	102,418	382,800
Additions	-	666	5,489	6,155
Disposals	-	-	(31,300)	(31,300)
At 30 April 2025	185,842	95,206	76,607	357,655
Depreciation
At 1 May 2024	12,932	57,257	42,752	112,941
Charge for the year	3,715	9,398	11,398	24,511
Eliminated on disposal	-	-	(8,803)	(8,803)
At 30 April 2025	16,647	66,655	45,347	128,649
Carrying amount
At 30 April 2025	169,195	28,551	31,260	229,006
At 30 April 2024	172,910	37,283	59,666	269,859

Included within the net book value of land and buildings above is £169,196 (2024 - £172,911) in respect of freehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Work in progress	397,391	270,394

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		12,399	37,245
Amounts owed by related parties		3,413	26,926
Prepayments		1,661	-
Other debtors		8,930	4,625
		26,403	68,796

Freddie Gover Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	16,261	39,111
Trade creditors		120,566	31,605
Taxation and social security		60,087	51,378
Accruals and deferred income		8,597	8,347
Other creditors		16,188	1,227
		221,699	131,668

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	5,775	22,036

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

Freddie Gover Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,775	17,716
Hire purchase contracts	-	4,320
	5,775	22,036

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	11,941	34,399
Hire purchase contracts	4,320	4,712
	16,261	39,111

Bank borrowings

Barclays Bank Plc is denominated in GBP with a nominal interest rate of 2.50%, and the final instalment is due on 30 November 2026. The carrying amount at year end is £15,675 (2024 - £25,575). Included in creditors is a Coronavirus Business Interruption Loan Scheme.

Funding Circle is denominated in GBP with a nominal interest rate of 10.10%, and the final instalment is due on 31 May 2025. The carrying amount at year end is £2,042 (2024 - £26,542). Included in creditors is a Government backed bounce back loan.