Company Registration No. 07045856 (England and Wales)
Freelove Holdings Limited
Unaudited accounts
for the year ended 30 September 2022
Freelove Holdings Limited
Unaudited accounts
Contents
Freelove Holdings Limited
Company Information
for the year ended 30 September 2022
Company Number
07045856 (England and Wales)
Registered Office
19 Barley Way
Elsenham
Bishop's Stortford
CM22 6GX
Accountants
Barley Grove Financial Solutions Limited
19 Barley Way
Elsenham
Bishop's Stortford
CM22 6GX
Freelove Holdings Limited
Statement of financial position
as at 30 September 2022
Investment property
900,000
500,000
Cash at bank and in hand
3,722
50,067
Creditors: amounts falling due within one year
(139,381)
(140,231)
Net current liabilities
(78,409)
(15,822)
Total assets less current liabilities
821,591
484,178
Creditors: amounts falling due after more than one year
(218,375)
(282,765)
Provisions for liabilities
Deferred tax
(136,924)
(27,354)
Net assets
466,292
174,059
Called up share capital
1
1
Revaluation reserve
452,675
161,537
Profit and loss account
13,616
12,521
Shareholders' funds
466,292
174,059
For the year ending 30 September 2022 the company was entitled to exemption from audit 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 June 2023 and were signed on its behalf by
Mark Valentine
Director
Company Registration No. 07045856
Freelove Holdings Limited
Notes to the Accounts
for the year ended 30 September 2022
Freelove Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 07045856. The registered office is 19 Barley Way, Elsenham, Bishop's Stortford, CM22 6GX.
2
Compliance with accounting standards
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Significant judgements and estimates
No significant judgements or estimates have had to be made by the director in preparing these financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 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.
Freelove Holdings Limited
Notes to the Accounts
for the year ended 30 September 2022
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.
4
Average number of employees
During the year the average number of employees was 0 (2021: 0).
