| Freeman Property Development Ltd |
| Registered number: |
03068241 |
| Balance Sheet |
| as at 26 March 2021 |
|
| Notes |
|
|
2021 |
|
|
2020 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
2,568 |
|
|
76,186 |
|
| Current assets |
| Debtors |
4 |
|
118,611 |
|
|
9,609 |
| Cash at bank and in hand |
|
|
44,611 |
|
|
967 |
|
|
|
163,222 |
|
|
10,576 |
|
| Creditors: amounts falling due within one year |
5 |
|
(27,957) |
|
|
(27,396) |
|
| Net current assets/(liabilities) |
|
|
|
135,265 |
|
|
(16,820) |
|
| Net assets |
|
|
|
137,833 |
|
|
59,366 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
400 |
|
|
400 |
| Profit and loss account |
|
|
|
137,433 |
|
|
58,966 |
|
| Shareholders' funds |
|
|
|
137,833 |
|
|
59,366 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| E C Freeman |
| Director |
| Approved by the board on 11 May 2021 |
|
| Freeman Property Development Ltd |
| Notes to the Accounts |
| for the period from 1 August 2020 to 26 March 2021 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
This consists of the invoiced amount of properties sold and services provided during the year net of vat where applicable. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
15% reducing balance method. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Creditors |
|
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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
|
|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 August 2020 |
73,333 |
|
38,042 |
|
111,375 |
|
At 26 March 2021 |
73,333 |
|
38,042 |
|
111,375 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2020 |
- |
|
35,189 |
|
35,189 |
|
Charge for the period |
- |
|
285 |
|
285 |
|
On disposals |
73,333 |
|
- |
|
73,333 |
|
At 26 March 2021 |
73,333 |
|
35,474 |
|
108,807 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 26 March 2021 |
- |
|
2,568 |
|
2,568 |
|
At 31 July 2020 |
73,333 |
|
2,853 |
|
76,186 |
|
|
| 4 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Other debtors |
118,611 |
|
9,609 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Taxation and social security costs |
27,063 |
|
26,113 |
|
Other creditors |
894 |
|
1,283 |
|
|
|
|
|
|
27,957 |
|
27,396 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
|
E C Freeman |
9,609 |
|
109,002 |
|
- |
|
118,611 |
|
|
|
9,609 |
|
109,002 |
|
- |
|
118,611 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
Freeman Property Development Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
The Hawthorns |
|
Damery Lane |
|
Woodford |
|
Berkeley |
|
Glos GL13 9JR |
