FREEBORNE MEDIA LIMITED


Directors	JA R Godfrey
	J C Honeyborne


Registered Address	1 St. Pauls Road
	Clifton
	Bristol
	BS8 1LX


Registered Number	11600091 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	Freeborne Media Limited is a private company, limited by shares, registered in England and Wales, registration number 11600091. The registered office is 1 St. Pauls Road, Clifton, Bristol, BS8 1LX.

	Statement of compliance
	The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention.

	Functional and presentation currency
	The financial statements are presented in £ sterling and this is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

	Employee benefits
	The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from the company's in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from the company's in an independently administered fund.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss and the current tax charge is based upon the taxable profit for the year. Current tax assets are recognised when tax paid exceeds the tax payable. Current tax assets and liabilities are measured using tax rates that have been enacted or substantially enacted by the reporting date.

	Deferred tax
	Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:


		Straight line (years)
	Plant and machinery	3

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. 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 profit and loss account.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price, less costs to complete and sell. Work in progress is valued using the percentage-of-completion method, and values are calculated as the lower of cost and estimated selling price, less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place during the same period in which the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price, less costs to complete and sell.

Work in progress is valued using the percentage-of-completion method, and values are calculated as the lower of cost and estimated selling price, less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place during the same period in which the associated revenue is recognised.

	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.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		3

3.	Tangible fixed assets

	Plant & machinery	Total
	£	£
Cost or valuation
At 01 January 25	2,893	2,893
Disposals	(2,893)	(2,893)
Depreciation and impairment
At 01 January 25	2,893	2,893
On disposals	(2,893)	(2,893)
Net book value
At 31 December 25	-	-
At 31 December 24	-	-

4.	Fixed asset investments
	The company's investments are 1 £1 Ordinary Share in Freeborne Impact Limited and 1 £1 Ordinary Share in Spindrift TV Limited.

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 January 25	102	102
Disposals	(100)	(100)
At 31 December 25	2	2
Net book value
At 31 December 25	2	2
At 31 December 24	102	102

	Notes
	¹Investments in group undertakings and participating interests

5.	Stocks

	2025	2024
	£	£
Work in progress	80,000	-
Total	80,000	-

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	-	51,187
Amounts owed by group undertakings	20,033	20,033
Other debtors	26	7,743
Total	20,059	78,963

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	294	13,917
Amounts owed to related parties	-	10,550
Taxation and social security	-	46,730
Other creditors	93,883	186
Accrued liabilities and deferred income	-	369,925
Total	94,177	441,308

8.	Related party transactions
	The company has taken the exemption under FRS 102 section 1A para 1AC.35 and has not disclosed transactions with wholly owned members of the same group. In the opinion of the directors, there are no transactions with related parties that have not been concluded under normal market conditions.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Investments	4		2		102
			2		102
Current assets
Stocks	5	80,000		-
Debtors	6	20,059		78,963
Cash at bank and on hand		36,509		328,470
		136,568		407,433
Creditors amounts falling due within one year	7	(94,177)		(441,308)
Net current assets (liabilities)			42,391		(33,875)
Total assets less current liabilities			42,393		(33,773)
Net assets			42,393		(33,773)
Capital and reserves
Called up share capital			100		100
Profit and loss account			42,293		(33,873)
Shareholders' funds			42,393		(33,773)