Registered number
01511176
Friday Properties Limited
Filleted Accounts
31 May 2023
Friday Properties Limited Registered number
Balance Sheet 01511176
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 358 478
Investment properties 5 1,179,000 1,179,000
1,179,358 1,179,478
Current assets
Debtors 6 21,249 21,249
Cash at bank and in hand 85,827 67,797
107,076 89,046
Creditors: amounts falling due within one year 7 (125,009) (143,528)
Net current liabilities (17,933) (54,482)
Total assets less current liabilities 1,161,425 1,124,996
Provisions for liabilities
Deferred tax 8 (63,000) (63,000)
Net assets 1,098,425 1,061,996
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,098,423 1,061,994
Shareholders' funds 1,098,425 1,061,996
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.
Mrs V M Eccles
Director
Approved by the board on 16 February 2024
Friday Properties Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention, as modified by the revaluation of investment properties, 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
The turnover reflected in the accounts represents rent receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less depreciation. Depreciation has been provided at the following rate to write off the assets over their estimated useful lives:
Equipment - 25% p.a. on the reducing balance basis
Investment properties
Investment properties are valued at the balance sheet date and included in the accounts at open market value. Changes in the value of investment properties are taken to the profit and loss account.

The company departs from the legal requirement in the Companies Acts to charge depreciation on investment properties in order to satisfy the overriding requirement for the accounts to give a true and fair view of the company's position and operating results.
Deferred taxation
Deferred tax is provided on an undiscounted basis to reflect the tax that would be payable by the company were its investment properties to be sold at their balance sheet values.
2 Employees 2023 2022
Number Number
Average number of employees and company officers 2 2
3 Taxation 2023 2022
£ £
UK corporation tax 13,264 13,232
Deferred tax - (2,000)
13,264 11,232
4 Tangible fixed assets
Equipment
£
Cost
At 1 June 2022 2,307
At 31 May 2023 2,307
Depreciation
At 1 June 2022 1,829
Charge for the year 120
At 31 May 2023 1,949
Net book value
At 31 May 2023 358
At 31 May 2022 478
5 Investment properties
£
Valuation
At 1 June 2022 1,179,000
Additions 2,765
Revaluation (2,765)
At 31 May 2023 1,179,000
The directors have reviewed the value of the company's investment properties as at 31 May 2023 by reference to earlier professional valuations and other available information. The historical cost of the properties at 31 May 2023 amounted to £429,787 (2022: £427,022).
6 Debtors 2023 2022
£ £
Trade debtors 21,249 21,249
7 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings 79,178 90,107
Corporation tax 13,264 13,172
Other creditors 32,567 40,249
125,009 143,528
8 Deferred tax 2023 2022
£ £
At 1 June 2022 63,000 65,000
Charge for the year - (2,000)
At 31 May 2023 63,000 63,000
The provision for deferred tax represents the tax that would be payable were the company's investment properties to be sold at their balance sheet value. The liability would only crystallise were the properties to be sold and the company has no plans to sell at present.
9 Controlling parties
The company is a fully owned subsidiary of Barnston Holdings Limited. The directors, Mrs V M Eccles and Mr R C Eccles, are also directors of Barnston Holdings Limited and jointly own its entire issued share capital.
10 Other information
Friday Properties Limited is a private company limited by shares and incorporated in England. Its registered office is 74 High Street, Dunmow, Essex CM6 1AP.
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