REGISTERED NUMBER: 06839578 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2014

for

FREESTONE CREATIVE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S J Freestone

Mrs W Freestone

REGISTERED OFFICE:

The Old Pump House

Calverton Road

Stony Stratford

Buckinghamshire

MK11 1YT

REGISTERED NUMBER:

06839578 (England and Wales)

ACCOUNTANTS:

ANTHISTLE CRAVEN

Moreton House

31 High Street

Buckingham

Buckinghamshire

MK18 1NU

FIXED ASSETS

Intangible assets

2

1,411,765

1,500,000

Tangible assets

3

146,813

145,148

1,558,578

1,645,148

CURRENT ASSETS

Stocks

57,128

150,351

Debtors

454,148

519,932

Cash at bank and in hand

620,918

839,504

1,132,194

1,509,787

CREDITORS

Amounts falling due within one year

1,568,160

2,161,410

NET CURRENT LIABILITIES

(435,966

)

(651,623

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,122,612

993,525

PROVISIONS FOR LIABILITIES

17,647

14,416

NET ASSETS

1,104,965

979,109

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

1,104,865

979,009

SHAREHOLDERS' FUNDS

1,104,965

979,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 23 July 2014 and were signed on its behalf by:

S J Freestone - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

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

-

Straight line over 6 years

Fixtures and fittings

-

Straight line over 6 years

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

1,500,000

AMORTISATION

Amortisation for year

88,235

At 31 March 2014

88,235

NET BOOK VALUE

At 31 March 2014

1,411,765

At 31 March 2013

1,500,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

221,479

Additions

51,144

Disposals

(5,560

)

At 31 March 2014

267,063

DEPRECIATION

At 1 April 2013

76,331

Charge for year

46,514

Eliminated on disposal

(2,595

)

At 31 March 2014

120,250

NET BOOK VALUE

At 31 March 2014

146,813

At 31 March 2013

145,148

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

100

Ordinary

£1

100

100