REGISTERED NUMBER: 05103965 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

FREEGATE LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

I Krausz

REGISTERED OFFICE:

115 Craven Park Road

London

N15 6BL

REGISTERED NUMBER:

05103965 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

5

6,216

7,313

Investments

6

1

1

Investment property

7

4,007,500

4,007,500

4,013,717

4,014,814

CURRENT ASSETS

Debtors

8

2,813,253

2,382,354

Investments

9

14,000

14,000

Cash at bank

4,052

29,851

2,831,305

2,426,205

CREDITORS

Amounts falling due within one year

10

(2,128,295

)

(2,062,424

)

NET CURRENT ASSETS

703,010

363,781

TOTAL ASSETS LESS CURRENT LIABILITIES

4,716,727

4,378,595

CREDITORS

Amounts falling due after more than one year

11

(1,993,807

)

(1,993,807

)

PROVISIONS FOR LIABILITIES

(263,896

)

(263,896

)

NET ASSETS

2,459,024

2,120,892

CAPITAL AND RESERVES

Called up share capital

14

2

2

Revaluation reserve

15

1,430,506

1,430,506

Retained earnings

15

1,028,516

690,384

SHAREHOLDERS' FUNDS

2,459,024

2,120,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorized for issue by the director and authorised for issue on 24 April 2026 and were signed by:

I Krausz - Director

1.	STATUTORY INFORMATION

Freegate Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 February 2024

and 31 January 2025

21,885

456

22,341

DEPRECIATION

At 1 February 2024

14,572

456

15,028

Charge for year

1,097

-

1,097

At 31 January 2025

15,669

456

16,125

NET BOOK VALUE

At 31 January 2025

6,216

-

6,216

At 31 January 2024

7,313

-

7,313

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2024

and 31 January 2025

1

NET BOOK VALUE

At 31 January 2025

1

At 31 January 2024

1

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

and 31 January 2025

4,007,500

NET BOOK VALUE

At 31 January 2025

4,007,500

At 31 January 2024

4,007,500

Fair value at 31 January 2025 is represented by:

£

Valuation in 2016

305,563

Valuation in 2021

1,388,929

Cost

2,313,008

4,007,500

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

13,573

15,771

Amounts owed by group undertakings

59,999

59,999

Other debtors

2,739,681

2,306,584

2,813,253

2,382,354

9.	CURRENT ASSET INVESTMENTS

31.1.25

31.1.24

£

£

Unlisted investments

14,000

14,000

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Taxation and social security

135,343

69,352

Other creditors

1,992,952

1,993,072

2,128,295

2,062,424

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans (see note 12)

1,993,807

1,993,807

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loan

1,993,807

1,993,807

12.

LOANS

An analysis of the maturity of loans is given below:

31.1.25

31.1.24

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loan

1,993,807

1,993,807

13.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

£

Bank loans

1,993,807

1,993,807

Bank loan is secured by the way of first charge against the company's investment properties.

14.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.25

31.1.24

value:

£

£

2

Ordinary

£1

2

2

15.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 February 2024

690,384

1,430,506

2,120,890

Profit for the year

338,132

338,132

At 31 January 2025

1,028,516

1,430,506

2,459,022