Free2Move Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06424553 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

FREE2MOVE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S A Georgiev

SECRETARY:

Ms J Joever

REGISTERED OFFICE:

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

BUSINESS ADDRESS:

8 Trafford Road

Wisbech

Cambridgeshire

PE13 2EJ

REGISTERED NUMBER:

06424553 (England and Wales)

ACCOUNTANTS:

Wheelers

Chartered Accountants & Tax Consultants

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

FIXED ASSETS

Tangible assets

4

3,898

3,404

CURRENT ASSETS

Debtors

5

96,626

77,566

Cash at bank

75,153

75,062

171,779

152,628

CREDITORS

Amounts falling due within one year

6

92,635

81,194

NET CURRENT ASSETS

79,144

71,434

TOTAL ASSETS LESS CURRENT LIABILITIES

83,042

74,838

PROVISIONS FOR LIABILITIES

740

650

NET ASSETS

82,302

74,188

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

82,301

74,187

SHAREHOLDERS' FUNDS

82,302

74,188

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 June 2020 and were signed by:

S A Georgiev - Director

1.	STATUTORY INFORMATION

Free2Move 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

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. The financial statements have been prepared under the historical cost convention.

The director believes that the company is well placed to manage its financial risks successfully and has

reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable

future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual

financial statements.

Turnover

Turnover represents net invoiced sale of services, 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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

20% 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 85 (2018 - 74 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 December 2018

2,116

3,400

5,516

Additions

1,307

-

1,307

At 30 November 2019

3,423

3,400

6,823

DEPRECIATION

At 1 December 2018

742

1,370

2,112

Charge for year

407

406

813

At 30 November 2019

1,149

1,776

2,925

NET BOOK VALUE

At 30 November 2019

2,274

1,624

3,898

At 30 November 2018

1,374

2,030

3,404

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Trade debtors

65,627

34,580

Other debtors

30,999

42,986

96,626

77,566

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Trade creditors

591

437

Taxation and social security

73,713

68,218

Other creditors

18,331

12,539

92,635

81,194

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.11.19

30.11.18

£

£

Within one year

4,238

4,238

Between one and five years

353

4,591

4,591

8,829

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2019 and

30 November 2018:

30.11.19

30.11.18

£

£

S A Georgiev

Balance outstanding at start of year

38,234

-

Amounts advanced

32,627

63,787

Amounts repaid

(48,160

)

(25,553

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

22,701

38,234

Interest at 2.5% has been charged on balances over £10,000.