Freeport Retail Limited - Accounts to registrar (filleted) - small 23.2.5
Freeport Retail Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 June 2023 |
| for |
| Freeport Retail Limited |
| Freeport Retail Limited (Registered number: 07337895) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2023 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Freeport Retail Limited |
| Company Information |
| for the Year Ended 30 June 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITOR: |
| Chartered Accountant & Statutory Auditor |
| Greengarth |
| Thicket Grove |
| Maidenhead |
| Berkshire |
| SL6 4LW |
| BANKERS: |
| 2 Finsbury Avenue |
| London EC2M 2PP |
| Freeport Retail Limited (Registered number: 07337895) |
| Statement of Financial Position |
| 30 June 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Freeport Retail Limited (Registered number: 07337895) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2023 |
| 1. | STATUTORY INFORMATION |
| Freeport Retail Limited is a |
| The tax credit reflects the tax loss carried back to 2022 and recovering some of the tax paid for that year. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company's business activities are expected to continue as previously such that the company will continue to generate positive cash flows on its account for the foreseeable future. On the basis of enquiries made and their assessment of the company's financial position, the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. The business has not suffered as a consequence of Brexit but has suffered some impact from Covid-19 and the Ukraine war. Nevertheless, the customer base remains and thus the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements. |
| These financial statements have been presented in sterling which is the functional currency of the company and rounded to the nearest £. |
| Turnover |
| The Turnover shown in the profit and loss account represents fees receivable for asset management and consultancy services during the normal course of business, net of VAT and other sales related taxes. Income is recognised when invoices are raised under the terms of contractual agreements. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Taxation |
| Taxation 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 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all 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. |
| Freeport Retail Limited (Registered number: 07337895) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| Payments to defined contribution retirement plans are charged to the profit and loss account as they fall due. Payments to individuals' own pension plans are dealt with as payments to defined contribution plans where |
| the company's obligations under the plans are equivalent to those arising in a defined contribution benefit |
| plan. |
| Investments |
| Investments are stated at cost. |
| Operating lease agreements |
| Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 July 2022 |
| Additions |
| At 30 June 2023 |
| DEPRECIATION |
| At 1 July 2022 |
| Charge for year |
| At 30 June 2023 |
| NET BOOK VALUE |
| At 30 June 2023 |
| At 30 June 2022 |
| The company's fixed assets investments consist of a minor historic interest in an unlisted entity at nil cost. |
| Freeport Retail Limited (Registered number: 07337895) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Other debtors |
| All falling due within one year |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | PROVISIONS FOR LIABILITIES |
| 2023 | 2022 |
| £ | £ |
| Deferred tax | 308 | 266 |
| Deferred |
| tax |
| £ |
| Balance at 1 July 2022 |
| Provided during year |
| Balance at 30 June 2023 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary | 1.00 | 920 | 920 |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditor was unqualified. |
| for and on behalf of |
| 10. | ULTIMATE CONTROLLING PARTY |
| There is no controlling party of the company. |