REGISTERED NUMBER: 04217798 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2025

FOR

FREEPORT DEVELOPMENT LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D Pearman

R Pearman

Mrs A M Pearman

REGISTERED OFFICE:

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

REGISTERED NUMBER:

04217798 (England and Wales)

ACCOUNTANTS:

Chegwidden & Co

Chartered Accountants

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

FIXED ASSETS

Tangible assets

4

145

194

CURRENT ASSETS

Debtors

24,558

12,356

Cash at bank and in hand

6,896

35,873

31,454

48,229

CREDITORS

Amounts falling due within one year

49,428

72,468

NET CURRENT LIABILITIES

(17,974

)

(24,239

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(17,829

)

(24,045

)

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

(18,129

)

(24,345

)

SHAREHOLDERS' FUNDS

(17,829

)

(24,045

)

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

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

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31st May 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 29th May 2026 and were signed on its behalf by:

D Pearman - Director

1.	STATUTORY INFORMATION

Freeport Development Limited 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements - going concern

The financial statements have been prepared on the going concern basis as the directors have confirmed that funds will continue to be made available as and when required to enable the company to meet its liabilities as they fall due. The financial statements do not include any adjustments that would result from a withdrawal of the financial support.

Turnover

Turnover represents the fair value of goods sold, excluding discounts and value added tax, once the income and related costs incurred can be reliably measured, and it is probable that the economic benefits will flow to the company.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st June 2024

and 31st May 2025

2,380

DEPRECIATION

At 1st June 2024

2,186

Charge for year

49

At 31st May 2025

2,235

NET BOOK VALUE

At 31st May 2025

145

At 31st May 2024

194