Freelove Holdings Limited - Accounts to registrar (filleted) - small 18.2

Freelove Holdings Limited - Accounts to registrar (filleted) - small 18.2

FREELOVE HOLDINGS LIMITED - Company Information

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REGISTERED NUMBER: 07045856 (England and Wales)















FREELOVE HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2019





Wags LLP t/a Wagstaffs
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP








FREELOVE HOLDINGS LIMITED (REGISTERED NUMBER: 07045856)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2019










Page

Company Information 1

Accountants' Report 2

Abridged Statement of Financial Position 3 to 4

Notes to the Financial Statements 5 to 7


FREELOVE HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2019







DIRECTOR: M Valentine





SECRETARY: M Valentine





REGISTERED OFFICE: Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP





REGISTERED NUMBER: 07045856 (England and Wales)





ACCOUNTANTS: Wags LLP t/a Wagstaffs
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP
Page 1
ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FREELOVE HOLDINGS LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required
to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain
other primary statements and the Report of the Director are not required to be filed with the Registrar of
Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval
the financial statements of Freelove Holdings Limited for the year ended 30th September 2019 which
comprise the Income Statement, Abridged Statement of Financial Position, Statement of Changes in Equity
and the related notes from the company's accounting records and from information and explanations you
have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Freelove Holdings Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Freelove Holdings Limited and state those matters that we have agreed to state to the director of Freelove Holdings Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Freelove Holdings Limited and its director for our work or for this report.

It is your duty to ensure that Freelove Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Freelove Holdings Limited. You consider that Freelove Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Freelove Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wags LLP t/a Wagstaffs
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP


17th June 2020

This page does not form part of the statutory financial statements

Page 2
FREELOVE HOLDINGS LIMITED (REGISTERED NUMBER: 07045856)

ABRIDGED STATEMENT OF FINANCIAL POSITION
30TH SEPTEMBER 2019

2019 2018
Notes £    £   
FIXED ASSETS
Investment property 5 500,000 500,000

CURRENT ASSETS
Debtors 93,853 102,707
Cash at bank 1 18
93,854 102,725
CREDITORS
Amounts falling due within one year (124,764 ) (124,116 )
NET CURRENT LIABILITIES (30,910 ) (21,391 )
TOTAL ASSETS LESS CURRENT LIABILITIES 469,090 478,609

CREDITORS
Amounts falling due after more than one
year
6
(275,163
)
(286,641
)

PROVISIONS FOR LIABILITIES (27,354 ) (27,354 )
NET ASSETS 166,573 164,614

CAPITAL AND RESERVES
Called up share capital 8 1 1
Investment property reserve 9 161,537 161,537
Retained earnings 5,035 3,076
SHAREHOLDERS' FUNDS 166,573 164,614

The notes form part of these financial statements

Page 3
FREELOVE HOLDINGS LIMITED (REGISTERED NUMBER: 07045856)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
30TH SEPTEMBER 2019


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30th September 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 16th June 2020 and were
signed by:





M Valentine - Director


The notes form part of these financial statements

Page 4
FREELOVE HOLDINGS LIMITED (REGISTERED NUMBER: 07045856)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2019


1. STATUTORY INFORMATION

Freelove Holdings 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared on a going concern basis and under the historical cost
convention.

Significant judgements and estimates
No significant judgements or estimates have had to be made by the directors in preparing these
financial statements.

Revenue
Revenue represents the total invoice value, excluding value added tax, trade discounts and all other
taxes of sales made during the year.

Revenue recognition
Revenue is recognised in the profit and loss account at the date the service is provided.

Investment property
Investment property is included at fair value. Gains are recognised in the statement of profit or loss.
Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible
preference and non-puttable ordinary shares which are measured at fair value, with changes
recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter
at fair value with changes recognised in profit or loss.

Tax
Tax for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except
to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred tax 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.


Page 5
FREELOVE HOLDINGS LIMITED (REGISTERED NUMBER: 07045856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2019


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material 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.

4. EMPLOYEES AND DIRECTORS

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

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1st October 2018
and 30th September 2019 500,000
Net book value
At 30th September 2019 500,000
At 30th September 2018 500,000

Fair value at 30th September 2019 is represented by:

£   
Valuation in 2017 189,599
Cost 310,401
500,000

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2019 2018
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 230,540 244,611

Page 6
FREELOVE HOLDINGS LIMITED (REGISTERED NUMBER: 07045856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2019


7. SECURED DEBTS

The following secured debts are included within creditors:

2019 2018
£    £   
Bank loans 286,319 297,149

The bank loan is secured.

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Investment
property
reserve
£   
At 1st October 2018
and 30th September 2019 161,537

Page 7