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REGISTERED NUMBER: 08733616 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

FRIENDLY FINISHING SOLUTIONS LIMITED

FRIENDLY FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 08733616)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FRIENDLY FINISHING SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







Director: D D Baldwin





Registered office: Unit C, Farrows Business Centre
Tenpenny Hill
Thorrington
Colchester
Essex
CO7 8JD





Registered number: 08733616 (England and Wales)





Accountants: Baverstocks Limited
Chartered Certified Accountants
Dickens House
Guithavon Street
Witham
Essex
CM8 1BJ

FRIENDLY FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 08733616)

ABRIDGED BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 72,899 66,592
72,899 66,592

Current assets
Stocks 13,112 19,948
Debtors 823,292 725,831
Prepayments and accrued income 13,825 16,928
Cash at bank and in hand 263,712 239,011
1,113,941 1,001,718
Creditors
Amounts falling due within one year 525,078 532,754
Net current assets 588,863 468,964
Total assets less current liabilities 661,762 535,556

Creditors
Amounts falling due after more than one
year

(146,333

)

(200,251

)

Provisions for liabilities (14,101 ) (9,170 )

Accruals and deferred income (250,679 ) (128,659 )
Net assets 250,649 197,476

Capital and reserves
Called up share capital 10,000 10,000
Retained earnings 240,649 187,476
Shareholders' funds 250,649 197,476

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FRIENDLY FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 08733616)

ABRIDGED BALANCE SHEET - continued
30 SEPTEMBER 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2024 and were signed by:





D D Baldwin - Director


FRIENDLY FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 08733616)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. Statutory information

Friendly Finishing Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to Property - 10% on reducing balance
Plant and Machinery - 33% on cost
Fixtures and Fittings - 33% on cost
Motor Vehicles - 20% on reducing balance
Office Equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

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

FRIENDLY FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 08733616)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. Accounting policies - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. Employees and directors

The average number of employees during the year was 6 (2022 - 6 ) .

4. Intangible fixed assets
Totals
£   
Cost
At 1 October 2022
and 30 September 2023 50,000
Amortisation
At 1 October 2022
and 30 September 2023 50,000
Net book value

At 30 September 2023 -
At 30 September 2022 -

5. Tangible fixed assets
Totals
£   
Cost
At 1 October 2022 156,446
Additions 26,963
Disposals (22,433 )
At 30 September 2023 160,976
Depreciation
At 1 October 2022 89,854
Charge for year 20,656
Eliminated on disposal (22,433 )
At 30 September 2023 88,077
Net book value
At 30 September 2023 72,899
At 30 September 2022 66,592

6. Other financial commitments

The company has financial commitments of £18,667 (2022: £51,333) in relation to non cancellable lease agreements for the company premises.

FRIENDLY FINISHING SOLUTIONS LIMITED (REGISTERED NUMBER: 08733616)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
D D Baldwin
Balance outstanding at start of year 44,348 -
Amounts advanced 73,242 44,348
Amounts repaid (118,170 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (580 ) 44,348