Freeman Sails Ltd


Director	Mr S Freeman


Registered Address	Unit 1 South Quay
	Padstow
	PL28 8BL


Registered Number	09410088 (England and Wales)

Balance Sheet as at
31 March 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	4		24,476		22,217
			24,476		22,217
Current assets
Stocks	5	9,717		11,087
Debtors	6	7,957		10,008
Cash at bank and on hand		1,931		741
		19,605		21,836
Creditors amounts falling due within one year	7	(80,245)		(58,139)
Net current assets (liabilities)			(60,640)		(36,303)
Total assets less current liabilities			(36,164)		(14,086)
Creditors amounts falling due after one year	8		(33,870)		(51,671)
Net assets			(70,034)		(65,757)
Capital and reserves
Called up share capital			2,000		2,000
Profit and loss account			(72,034)		(67,757)
Shareholders' funds			(70,034)		(65,757)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 30 September 2026, and are signed on its behalf by:

Mr S Freeman
Director
Registered Company No. 09410088

Freeman Sails Ltd

Notes to the Financial Statements
for the year ended 31 March 2026

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.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Going concern
	These accounts have been prepared on the going concern basis. The Company is reliant on the continued support of the director.

	Revenue from sale of goods
	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.

Revenue from sale of goods

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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	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.

	Intangible assets
	Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	15	-
Vehicles	15	-
Office Equipment	-	33

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2026		2025
	Average number of employees during the year	2		3

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 April 25	2,400	2,400
At 31 March 26	2,400	2,400
Amortisation and impairment
At 01 April 25	2,400	2,400
At 31 March 26	2,400	2,400
Net book value
At 31 March 26	-	-
At 31 March 25	-	-

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 April 25	4,770	44,210	4,119	2,873	55,972
Additions	-	-	6,995	-	6,995
Disposals	-	(5,210)	(4,119)	(1,479)	(10,808)
At 31 March 26	4,770	39,000	6,995	1,394	52,159
Depreciation and impairment
At 01 April 25	-	28,670	3,309	1,776	33,755
Charge for year	-	2,341	1,083	352	3,776
Other adjustments	-	(5,089)	(3,430)	(1,329)	(9,848)
At 31 March 26	-	25,922	962	799	27,683
Net book value
At 31 March 26	4,770	13,078	6,033	595	24,476
At 31 March 25	4,770	15,540	810	1,097	22,217

5.	Stocks

	2026	2025
	£	£
Work in progress	9,717	11,087
Total	9,717	11,087

6.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	7,766	6,027
Other debtors	-	3,759
Prepayments and accrued income	191	222
Total	7,957	10,008

7.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	11,106	24,583
Bank borrowings and overdrafts	8,699	6,986
Taxation and social security	3,377	2,638
Other creditors	54,581	21,305
Accrued liabilities and deferred income	2,482	2,627
Total	80,245	58,139


	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.

8.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	33,870	51,671
Total	33,870	51,671