FREEHOLD VENTURES LTD


Director	Mr R D Fairbairn


Registered Address	Subway
	96-106 Whitegate Drive
	Blackpool
	FY3 9ES


Registered Number	09880470 (England and Wales)

Notes to the Financial Statements
for the year ended 30 September 2025

1.	Accounting policies

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

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The directors have considered [details of relevant situation] as part of their going concern assessment. The view of the directors is that, while they acknowledge [relevant factors and impact], the directors feel that the company is well placed to negotiate the unique set of conditions currently facing the UK economy. In reaching their conclusion the directors have considered their cashflow position for a period of 12 months from the date of sign off. After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements. OR At the balance sheet date the company's balance sheet was overdrawn showing a net deficit. The major creditor of the company is [The directors, parent company, company under common control]. This [director/company] has confirmed that they will not demand repayment of this loan if it would prejudice the paymentof external creditors. For this reason the company continues to adopt the going concern basis for these financial statements

Going concern

The directors have considered [details of relevant situation] as part of their going concern assessment. The view of the directors is that, while they acknowledge [relevant factors and impact], the directors feel that the company is well placed to negotiate the unique set of conditions currently facing the UK economy.

In reaching their conclusion the directors have considered their cashflow position for a period of 12 months from the date of sign off. After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.
OR
At the balance sheet date the company's balance sheet was overdrawn showing a net deficit. The major creditor of the company is [The directors, parent company, company under common control]. This [director/company] has confirmed that they will not demand repayment of this loan if it would prejudice the paymentof external creditors. For this reason the company continues to adopt the going concern basis for these financial statements

	Turnover policy
	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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 policy

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/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

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.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Fixtures and fittings	5

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Tangible fixed assets

	Fixtures & fittings	Total
	£	£
Cost or valuation
At 01 October 24	8,870	8,870
At 30 September 25	8,870	8,870
Depreciation and impairment
At 01 October 24	7,934	7,934
Charge for year	469	469
At 30 September 25	8,403	8,403
Net book value
At 30 September 25	467	467
At 30 September 24	936	936

4.	Investment property
	The investment properties class of fixed assets were valued on 30 September 2025 by the Director who is internal to the company. Any revaluations have no effect on the tax payable in the year.


		£
	Fair value at 01 October 24	2,571,212
	Additions	375,541
	Disposals	(95,000)
	Fair value adjustments	196,274
	At 30 September 25	3,048,027

5.	Fixed asset investments
	The company is not part of a group and is therefore exempt from accounting for its associate investment under equity accounting. The investment in the associate has been accounted for at cost.

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	9,815	11,163
Amounts owed by group undertakings	9,360	-
Other debtors	151	-
Prepayments and accrued income	62,923	25,407
Total	82,249	36,570

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	4,035	22,508
Bank borrowings and overdrafts	663,939	25,658
Amounts owed to related parties	548,236	441,406
Taxation and social security	15,287	29,727
Other creditors	-	46,865
Accrued liabilities and deferred income	19,664	64,595
Total	1,251,161	630,759

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	986,877	1,319,967
Total	986,877	1,319,967


	Borrowings are secured against several charges over the company's assets. Some of the borrowings have also been secured against guarantees offered by a company in which Mr R D Fairbairn is sole director and majority shareholder. Some of the borrowings have also been secured against personal guarantees given by the director. The company's bank overdraft is secured against a fixed and floating charge.

Borrowings are secured against several charges over the company's assets. Some of the borrowings have also been secured against guarantees offered by a company in which Mr R D Fairbairn is sole director and majority shareholder. Some of the borrowings have also been secured against personal guarantees given by the director.

The company's bank overdraft is secured against a fixed and floating charge.

9.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	184,625	140,880
Total	184,625	140,880

10.	Related party transactions
	Freehold Ventures Limited has a loan with a company of which Mr R D Fairbairn is a director and shareholder. At the year end £548,236 was due to that company (2024: £441,406). Freehold Ventures Limited has a loan with a company of which Mr R D Fairbairn is a director and shareholder. At the year end £9,359 was due from that company (2024: £Nil).

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		467		936
Investment property	4		3,048,027		2,571,212
			3,048,494		2,572,148
Current assets
Debtors	6	82,249		61,890
Cash at bank and on hand		8,889		9,314
		91,138		71,204
Creditors amounts falling due within one year	7	(1,251,161)		(630,759)
Net current assets (liabilities)			(1,160,023)		(559,555)
Total assets less current liabilities			1,888,471		2,012,593
Creditors amounts falling due after one year	8		(986,877)		(1,319,967)
Provisions for liabilities	9		(184,625)		(140,880)
Net assets			716,969		551,746
Capital and reserves
Called up share capital			100		100
Profit and loss account			716,869		551,646
Shareholders' funds			716,969		551,746