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Registered Number: 12032640
England and Wales

 

 

 

FRIENDLY MOTORS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 3,300    840 
3,300    840 
Current assets      
Stocks 79,244    36,836 
Debtors   255 
Cash at bank and in hand 37,582    3,309 
116,826    40,400 
Creditors: amount falling due within one year (110,208)   (19,138)
Net current assets 6,618    21,262 
 
Total assets less current liabilities 9,918    22,102 
Creditors: amount falling due after more than one year (122,235)   (81,728)
Net liabilities (112,317)   (59,626)
 

Capital and reserves
     
Called up share capital 4 1    1 
Profit and loss account (112,318)   (59,627)
Shareholder's funds (112,317)   (59,626)
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 29 March 2024 and were signed by:


-------------------------------
Shahid Mehmood
Director
1
General Information
FRIENDLY MOTORS LTD is a private company, limited by shares, registered in England and Wales, registration number 12032640, registration address Unit 3 George Street, Balsall Heath, Birmingham, B12 9RG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Fixtures and Fittings 20% Straight Line
Stocks
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 July 2022 540    1,560    2,100 
Additions   3,600    3,600 
Disposals    
At 30 June 2023 540    5,160    5,700 
Depreciation
At 01 July 2022 324    936    1,260 
Charge for year 108    1,032    1,140 
On disposals    
At 30 June 2023 432    1,968    2,400 
Net book values
Closing balance as at 30 June 2023 108    3,192    3,300 
Opening balance as at 01 July 2022 216    624    840 


4.

Share Capital

Authorised
1 Class A share of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £1.00 each  
 

2