Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12513657 2022-04-01 2023-03-31 12513657 2021-04-01 2022-03-31 12513657 2023-03-31 12513657 2022-03-31 12513657 c:Director1 2022-04-01 2023-03-31 12513657 d:MotorVehicles 2022-04-01 2023-03-31 12513657 d:MotorVehicles 2023-03-31 12513657 d:MotorVehicles 2022-03-31 12513657 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12513657 d:ComputerEquipment 2022-04-01 2023-03-31 12513657 d:ComputerEquipment 2023-03-31 12513657 d:ComputerEquipment 2022-03-31 12513657 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12513657 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 12513657 d:CurrentFinancialInstruments 2023-03-31 12513657 d:CurrentFinancialInstruments 2022-03-31 12513657 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12513657 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12513657 d:ShareCapital 2023-03-31 12513657 d:ShareCapital 2022-03-31 12513657 d:RetainedEarningsAccumulatedLosses 2023-03-31 12513657 d:RetainedEarningsAccumulatedLosses 2022-03-31 12513657 c:FRS102 2022-04-01 2023-03-31 12513657 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12513657 c:FullAccounts 2022-04-01 2023-03-31 12513657 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12513657 2 2022-04-01 2023-03-31 12513657 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 12513657









FRIED ASSOCIATES LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
FRIED ASSOCIATES LIMITED
REGISTERED NUMBER: 12513657

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
33,465
44,621

Investments
 5 
699,840
221,100

  
733,305
265,721

Current assets
  

Debtors: amounts falling due within one year
 6 
4,287
2,842

Cash at bank and in hand
 7 
701
22,631

  
4,988
25,473

Creditors: amounts falling due within one year
 8 
(284,812)
(9,275)

Net current (liabilities)/assets
  
 
 
(279,824)
 
 
16,198

Total assets less current liabilities
  
453,481
281,919

  

Net assets
  
453,481
281,919


Capital and reserves
  

Called up share capital 
  
300
300

Profit and loss account
  
453,181
281,619

  
453,481
281,919


Page 1

 
FRIED ASSOCIATES LIMITED
REGISTERED NUMBER: 12513657
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
B Fried
Director

Date: 13 November 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FRIED ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Fried Associates Limited is a private company limited by shares. The Company is incorporated in England & Wales and its registered address is Aston House, Cornwall Avenue, London, United Kingdom, N3 1LF. The registered company number is 12513657.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
FRIED ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
on a reducing balance
Computer equipment
-
25%
on a reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
FRIED ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
57,890
1,605
59,495



At 31 March 2023

57,890
1,605
59,495



Depreciation


At 1 April 2022
14,473
402
14,875


Charge for the year on owned assets
10,854
301
11,155



At 31 March 2023

25,327
703
26,030



Net book value



At 31 March 2023
32,563
902
33,465



At 31 March 2022
43,418
1,203
44,621




The net book value of land and buildings may be further analysed as follows:





Page 5

 
FRIED ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2022
221,100


Additions
478,740



At 31 March 2023
699,840





6.


Debtors

2023
2022
£
£


Other debtors
1,503
454

Prepayments and accrued income
2,784
2,388

4,287
2,842



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
701
22,631

701
22,631



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
44,817
2,715

Other creditors
238,220
3,560

Accruals and deferred income
1,775
3,000

284,812
9,275


Page 6

 
FRIED ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Related party transactions

Included in other creditors is an amount of £234,220 (2022: £3,560) owed to the director of the company. This loan is unsecured, interest free and was repayable on demand.
During the year under review dividends of £2,000 (2022: £2,000) were paid to the director of the company.

 
Page 7